Transcript
Well, hello, everybody, welcome to Friday, the S&P 500 was down .35%. But that doesn’t really tell the whole story, it was kind of a wild day. Let me show you a chart here of kind of the by-the-minute move that we saw today, it was very interesting. So each one of these bars is one minute on the S&P 500 index. This is yesterday, you can see it was kind of straight, for the most part. And then there’s today, which was definitely anything but straight, we actually get the all-time high, the highest we’ve ever hit in history of the S&P 500, early this morning, and then we’ve come down, we jump back up, and then just this incredible rally right at the end of the day. And so you know, what was really happening today, there was a lot of crosscurrents.
Number one, today is Quadruple-Witching Friday. And so options expire, usually on a Friday, the third Friday. And today, four different types of options expired all at once, which is not something happens every Friday. So that creates normally a lot of volatility and a bunch of volume spikes. Well, on top of that we have the stimulus program that the market is looking forward to having happened, got bogged down a little bit today. So you know, we’ll see what goes on with that. But they also added another piece to this. Last week, they signed a government spending bill to keep the government open until this Friday at midnight, the idea was they would get the stimulus package done, and and sign this government spending package at the same time to keep the government open for a longer period. And so that’s the the market’s kind of having to deal with that officially, as it stands at the moment, the government is, you know, temporarily closed, which we’ve had happen a few times now.
But you know, at midnight tonight, so we’ll see what they do see something passed. But that’s a lot for the market to absorb. And then the other thing that’s actually really big deal, Tesla, after the close today is going to be placed into the S&P 500. So when it opens up on Monday, the S&P 500 will now include Tesla for the first time. And this is the biggest stock by capitalization to be added to the S&P 500 ever in history. So I have questions about how that’s going to work and what’s going to happen. So you can see why the market was really moving around today just trying to figure out you know, what direction to go and what to do. I think it all kind of what works its way out. This is mostly a one-day thing.
You know, the government spending bills, probably the more important piece here, we’ll see how that plays out. I think the stimulus you know, who knows, right would keep seemed like gonna happen. It doesn’t seem to it’s been going on for a while. And so, you know, hopefully they get something resolved sooner than later. Luckily for us, almost all of the pieces that we have in our portfolio did better on the S&P 500 today, which is really great. And the pieces that were at the top were incredible.
So again, we’ve had an amazing week at clean energy and clean energy really well two to four and a half percent today in the Clean Energy area. And then we had innovative technology, really running upward to so what we’re kind of seeing is as the lockdowns get more severe, we’re seeing some of these pieces that have done well in these lockdowns in the past continue to do well. And the other parts that require the vaccines and locked down to go away, are kind of underperforming.
But nonetheless, really, really good week for us all together. I think it’d be quite pleased if you look at your accounts. And I really look forward to seeing what’s going to happen on Monday with Tesla now being part of the S&P 500 should be really fascinating. And hopefully the stimulus bill gets done here shortly. All right. So that’s, that’s it for today and I look forward to talking to you on Monday.