While the S&P 500 SPX,
and Nasdaq Composite COMP,
set new records on Monday with the US $ 908 billion stimulus bill, finally signed into law, there were some segments that did not join the party.
On the one hand, the Russell 2000 RUT small cap
it closed lower, after a three-month stretch in which this index has jumped 33%.
Another segment that did not participate in Monday’s rally was recent listings. The IPO of the Open Renaissance IPO fund,
stumbled upon almost 5%. Analysts at Bespoke Investment Group point to the worst relative performance of the NYSE FANG + NYFANG index,
– the Facebook FB group,
Amazon AMZN,
Apple AAPL,
Netflix NFLX,
and the owner of Google, Alphabet GOOG,
along with some other tech giants, including Alibaba BABA,
and Tesla TSLA,
– in its history.
Companies such as sports bike manufacturer Peloton Interactive PTON,
Zoom Video Communications ZM,
social networking site Pinterest PINS,
and Data Analysis Provider Palantir Technologies PLTR,
everyone was fighting.
“This is by far the worst relative performance in the history of the NYSE FANG + index, and it may be a sign that the market is starting to re-evaluate aggressive betting on unproven companies that has also been part of the fashion. of the SPAC, ”he said. bespoke analysts. SPACs are special purpose procurement companies, so-called blank check companies that intend to buy other companies as a way to make them public.
The SPAK ETF derived from the new generation SPAC,
with components such as the sports betting firm DraftKings DKNG,
and Virgin Galactic SPCE space flight company,
also closed lower Monday.
The buzz
The House voted to overturn President Donald Trump’s veto on the defense bill, while Senator Bernie Sanders threatened to filibuster a step to do so in the Senate unless the 2,000 stimulus proposal is voted on. dollars authorized by the lower house.
Companies that have experienced large falls in stock prices may see more pressure in the coming days as investors block losses for capital gains tax purposes.
According to the COVID-19 follow-up project, U.S. COVID-19 hospitalizations set a record 121,235 on Monday. Deaths have declined significantly since Christmas, probably a function of the slowdown in holiday reports.
According to a government minister, more Israelis have received the vaccine than those who have contracted coronavirus. In the United States, 2.13 million people have received a dose, according to the Centers for Disease Control and Prevention, or 11% of the number of people who have contracted the disease.
The European Union and China are closing a trade agreement that will give greater European access to Chinese manufacturing and greater Chinese access to the European energy space.
The market
US stock futures ES00,
NQ00,
YM00,
aimed at new gains.
The FTSE 100 UKX,
rose sharply in London in its first action since the UK agreed a trade deal with the European Union that will continue tariff-free access.
The DXY Dollar,
was lower against key rivals, in particular the EURUSD,
The performance of the Treasury TMUBMUSD10Y at 10 years,
was 0.95%. Bitcoin BTCUSD,
it was trading below $ 27,000 in other turbulent stocks.
Random readings
A Japanese company, Sumitomo Forestry 1911,
has begun researching the manufacture of wooden satellites to reduce space debris.
Two widowed penguins console themselves looking at the Melbourne skyline.
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