Bulls $SPY Another New High

The catalyst for stocks' latest run, a popular retail stock battling back, and other noteworthy pops and drops.

Presented by

NEWS
Bulls $SPY Another New High

Source: Tenor.com

The major indexes closed in the green, fueled by Donald Trump’s virtual appearance, during which he "demanded" an immediate drop in interest rates and warned international producers to build in the U.S. or face tariffs. Meanwhile, Bitcoin surged after Trump signed an executive order to establish a crypto working group tasked with drafting new regulations and exploring a national crypto stockpile. 👀

Today's issue covers the catalyst for stocks’ latest run, a popular retail stock that’s breaking out again, and other noteworthy pops and drops. 📰

Here’s the S&P 500 heatmap. 11 of 11 sectors closed green, with healthcare (+1.34%) leading and technology (+0.18%) lagging.

Source: Finviz.com

And here are the closing prices: 

S&P 500

6,119

+0.53%

Nasdaq

20,054

+0.22%

Russell 2000

2,314

+0.47%

Dow Jones

44,565

+0.92%

STOCKS
Is Trump’s Wish The Fed’s Command? 🤔 

President Donald Trump continues to unleash a flurry of executive orders on a variety of topics, from immigration to climate and energy and a whole lot more. 📝 

The one getting the most attention from Wall Street today was his order to evaluate the potential for a ‘national digital asset stockpile,’ which many view as the first step to establishing a federal “strategic Bitcoin reserve.” That sent crypto prices higher and buoyed other risk assets. 🪙 

However, the real story of the day was Trump’s first move in what’s likely to be a contentious battle with the Federal Reserve, saying that he will apply pressure to bring down rates. He appeared via video at the World Economic Forum in Davos, Switzerland, saying, “I’ll demand that interest rates drop immediately. And likewise, they should be dropping all over the world. Interest rates should follow us all over.”

We certainly know how Federal Reserve Chairman Jerome Powell feels about the central bank’s independence, so the first FOMC meeting under the new administration will be very interesting next week… 🍿 

The thought of lower interest rates and continued optimism about earnings season, which is starting to ramp up, helped drive the broader market to a new all-time high. The S&P 500 closed above 6,100 for the first time as investors look to close out a second straight week of gains that would erase five weeks of losses. 📈 

Source: Stocktwits

SPONSORED
Softbank and Maveron are already invested in this “unlisted” stock

75% of Americans want a vacation home, and 40% want one within the next year. Pacaso is transforming the $1.3 trillion luxury vacation home market with its innovative co-ownership model — and big players are taking notice. By offering buyers the ability to purchase 1/8 to 1/2 shares of a home, Pacaso reduces costs and eliminates the headaches of maintenance, making luxury second-home ownership more accessible.

With over $1 billion in real estate transactions, over $100 million in gross profit, and backing from industry leaders like SoftBank, Pacaso could be poised for tremendous growth.

Learn more about how you can join in on this opportunity and be part of the cutting edge of real estate.

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here. This is a paid advertisement for Pacaso’s Regulation A offering. Please read the offering circular at invest.pacaso.com.

Subscribe to keep reading

This content is free, but you must be subscribed to The Daily Rip to continue reading.

I consent to receive newsletters via email. Sign Up Terms of Service.

Already a subscriber?Sign In.Not now

Reply

or to participate.