Transcript
Hello, everybody, welcome to Thursday, the S&P 500 was up yet again today, a little bit over .6% in total. It also hit a new high for this recovery so far, it hit 3351. The S&P 500, all time highs set back on February 19. At 3393, we’re getting really close. So we’ve actually worked our way through a lot of the resistance that was above us. And I think that’s why we’re seeing some of this movement happen. And we’re really starting to see things go.
Apple had an incredible day again, especially considering how many days it’s been up in a row and how much it’s been up, it was up another three and a half percent today. So that’s just an amazing run that’s happening. I think one of the things looking forward, you know, that’s really fascinating. You’ve got these two diverging concepts. One is, you know, this market could be astronomical, you’ve got a lot of money coming in from stimulus, you’ve got interest rates at 0%. And when rates are low, the stock market goes up, because there’s less competition from banking and bonds and what have you, you have a whole lot of technological innovation that is happening, that is now being pushed into the current times when it’s really something we probably would have adapted a few years later, between technology and advanced medical care. It’s that could be explosive, we could have huge gains from here.
We also have massive unemployment, businesses that can’t really function properly because of the virus that need to see a vaccine in order to recover. You could have those businesses and those unemployed people kind of create a contagion, you know, costs so that Microsoft and Apple aren’t doing as much business. And you really have these two wild scenarios between something that could be fantastic, and something that could be disastrous. And so those are the things we’re kind of watching for. It’s my job, you know, to keep track of all these things. But it’s very fascinating to see, you know, how much things are diverging as a whole. I’ve never seen anything like it. So that’s what’s happening today. I really look forward to seeing what’s happening tomorrow and we’ll talk then, thank you very much.