Transcript
Everybody, welcome to Thursday. Well, the S&P 500 was up almost .7%. Today, the big leaders were really advanced healthcare, which has been kind of sitting around for a while and really had a good move today. Smart Mobility had a good move today. Tesla was part of that. So that’s I think that’s a big part of what’s happening.
Online Retail was one of the other big movers. And so it’s kind of what I like about what’s happening with our portfolio right now. We have some pieces that underperform that day, but then we have some pieces that overperformed too. And that diversification seems to be kind of working. Money’s flying all over. And it doesn’t stay there very long. It seems like one day, there’s a bit more volatility happening right now. And that’s partly because there’s an awful lot going on. It’s the stimulus bill. A lot of news again, today, Pelosi says we’re getting closer and the White House seems to want it Trump seems to want it.
All the articles seem to be you know, really pointing to the fact that maybe the Republican Senate doesn’t want it. So we’ll have to see what happens there. But there was some volatility created by those, you know, comments to the press. Unemployment came out today, it was better than feared. And that’s been a common denominator amongst a lot of these economic numbers, things have been better than what was expected. And so things are going in the right direction there. I think that’s a good thing. And housing starts. And sorry, not housing starts, but housing sales were up quite a bit in September over 9%. So, you know, these are all things that are kind of driving this market.
One of the articles I read was really interesting as in a market watch, and was talking about how the market has been retracting over the last week, possibly because the battleground states are getting more competitive. In other words, a week ago, Biden was leading according to the average poll, the battleground states by 5%. And now that’s down to three and a half percent. So, you know, there’s some expectations for what might happen for the stimulus, there’s some expectations of what might happen for a contested election. So you know, the bigger the spread is the less chance of it contested election, the closer the election is, the more chance there is for contested election, of course, market hates that kind of uncertainty.
So lots going on really fascinating things that are happening right now, that kind of buffeting the market a little further, but for the most part, it’s just kind of going sideways. And again, you know, I as I demonstrated, you know, a while ago, look at the last 10 elections, the S&P 500 is at .8% in three months, up to the election day, and up 4.8% on average over those 10 elections last 40 years, in the three months after. So, this is not unusual. I mean, we’re just kind of churning along here. We’ll see what happens going forward. You know, of course, we got the debate and how does the market react to that? How do the polls change and all those types of things, so not a bad day. We’ll see what happens tomorrow, and I look forward to talking to you then. Thank you.