The Dec jobs report came in under expectations as the economy lost 140,000 jobs. The reasons are obvious - rising coronavirus cases, more state's shutting down and increasing restrictions. Word on the street is this is a rough patch that will be short-term and that's why we're seeing futures continuing to be bid up, with the Nasdaq 100 +.53%
This report should dampen the rally, however and at least give investors some time to catch their breath. The first week of the year has been fast and furious!
Some interesting notes on the day:
- Europe keeps tightening restrictions as the pandemic keeps spreading. The case for global growth is a good one, but we have to see these shutdowns easing before any meaningful growth can begin.
- Elon Musk is now the world's richest person with the price of #TSLA stock going bananas. With ALL price targets on the street BELOW the current stock price, his net worth should come down to earth soon. We are taking advantage of the EV boom in #mashups, so you should definitely check that out.
- Capitol hill riots had no effect on the market. This was surprising to some, but events such as these don't move the economic needle.
- Boeing will pay a 2.5 Billion dollar fraud charge related to the Max 737 probe. This should put an end to the Max issues for now and we should se #BA rise in the medium term.
The trades that are making January 2021 a month to remember are still in play! The hot sectors are cannabis, renewable energy, banks and all things small cap. Let's get our trades on!