The End is Nigh

Well at least for COVID relief programs. Is this in the market yet? Will it be looked at as a negative? The market usually discounts this type of stuff ahead of time, but so far, no reaction.

Here is a chart of some of the programs that will be coming to an end soon.

The market claws higher, but here is an interesting factoid about actual market breadth.

Since 1962, there have been 5 other days when the S&P 500 was up 0.75% or more, and yet there were more decliners than advancers (issues and volume) on the NYSE. All but one of those dates were in 2000 and 2008.

Meanwhile, internet stocks are YTD outperforming the S&P by 40%. How long this outperformance will continue?

Have fun out there today.

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