Transcript
Hello, everyone, welcome to Wednesday, we had a really big up day today, the S&P 500 was up over 1%. Today, we just finished the best 50 days in the history of the S&P 500. We did everything that needed to happen to see this market continued to go quite early, we saw some broad participation, then we got into that range. And we ended up really, you know, finally breaking out of that range. And then we bounced around trying to get through the 200-day moving average. And once we got through that, as expected, the market has made a pretty good run here.
Incredibly, the S&P 500 is only down about two and a half percent so far for the year. And we’ve gotten through a lot of hurdles. And we’re not that far from the high, I wouldn’t be surprised to see us continue to march towards that high. I think there are future events that are really interesting to look at. But as I talked about earlier, the markets looking at 2021, 2022, the analysts expectations for earnings in those two years are quite high.
Again, they might be wrong, and then the market would have to readjust to that. But we have the possibility of a second virus wave coming through. And you know, a possibility of more stimulus in all of these things. I have heard a lot of talk about pricing in perfection and that the market is looking for perfection, the recovery. I don’t know that that’s particularly true. There is a lot of money that’s moving towards the market. And the government is still you know, saying that they’re willing to backstop some of these issues that might happen. So we’ll see what happens as far as that goes. But for the moment, things are doing really, really well. It’s pretty incredible. What has happened so far. So I want to thank everybody very much and I will talk to you again tomorrow. Thank you.