While the S&P 500 SPX,
and Nasdaq Composite COMP,
set new records Monday with the US $ 908 billion stimulus bill finally signed into law, there were a few segments that did not join the party.
On the one hand, Russell 2000 RUT with small lid,
it closed below, after a three-month stretch in which the index increased by 33%.
Another segment that did not participate in Monday’s rally was recent listings. The renowned IPO trading fund traded on the stock exchange,
stumbled by almost 5%. Analysts at Bespoke Investment Group point out that it is the weakest relative performance compared to the NYSE FANG + NYFANG index,
– Facebook FB group,
Amazon AMZN,
Apple AAPL,
Netflix NFLX,
and the owner of Google Alphabet GOOG,
along with several other tech giants, including Alibaba BABA,
and Tesla TSLA,
– in its history.
Companies, including exercise bike manufacturer Peloton Interactive PTON,
Zoom Video Communications ZM,
social media site Pinterest PINS,
and Data Analysis Provider Palantir Technologies PLTR,
everyone was struggling.
“This is by far the worst relative performance in the history of the NYSE FANG + index and may be a sign that the market is beginning to reevaluate aggressive bets on unproven companies that have also played a part in the SPAC madness,” Bespoke analysts said. SPACs are special purpose procurement companies, so-called blank check companies that intend to buy other companies as a way to make them public.
Defiance Next Gen SPAC derived ETF SPAK,
with components, including sports betting company DraftKings DKNG,
and space flight company Virgin Galactic SPCE,
also closed below Monday.
Buzz
The House has voted to lift President Donald Trump’s veto on the defense bill, while Senator Bernie Sanders has threatened to try to do so in the Senate unless a $ 2,000 stimulus proposal is voted on. which approved the lower house.
Companies that have seen large declines in share prices could see more pressure in the coming days as investors block losses in order to tax capital gains.
US hospitalizations at COVID-19 recorded a record 121,235 on Monday, according to the COVID-19 follow-up project. Deaths have dropped significantly since Christmas, probably a function of slowing down holiday reporting.
More Israelis have been vaccinated than contracted coronavirus, according to a government minister. In the US, 2.13 million people received a dose, according to the Centers for Disease Control and Prevention, or 11% of those who contracted the disease.
The European Union and China are concluding a trade agreement that will provide greater European access to Chinese production and greater Chinese access to the European energy space.
Market
US ES00 futures,
NQ00,
YM00,
pointed to additional gains.
FTSE 100 UKX,
has risen sharply in London in its first action, since the UK agreed to a trade agreement with the European Union that will continue access without tariffs.
DXY dollar,
was lower than key rivals, especially the EURUSD euro,
10-year Treasury yield TMUBMUSD10Y,
was 0.95%. Bitcoin BTCUSD,
trade under turbulent shares below $ 27,000.
Random readings
A Japanese company, Sumitomo Forestry 1911,
began researching the construction of wooden satellites to reduce space debris.
Two widowed penguins console themselves as they look at the Melbourne skyline.
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