US equity indexes mostly closed on a weak note, SPX -7pts (0.2%) at 3687. Nasdaq comp' +0.5%. Dow -0.7%. The Transports settled -0.2%.
sp'daily5
VIX'daily3
Summary
US equities opened in chop mode, and remained that way across the day. The Nasdaq comp' broke a new hist' high. Volatility was muted, the VIX settling -3.7% to 24.23.
Meanwhile...
Stimulus bill four was passed, with another $900bn (around half likely financed via Fed printing) to be spent, but a mere $600 per US citizen. As a number have noted, 250M @ $600 is roughly $150bn. So, what about the other $750bn?
Many on Twitter sure weren't happy about the following...
Interesting huh?
Dore with Ratigan on stim' bill 4.
I don't care whether you like Dore or Ratigan... their points are valid. Whilst the mainstream media hacks touted further stimulus, its really a case of crumbs for the serfs.
Perhaps this sums things up...
Unlike a one year membership to the jelly of the month club, $600 is NOT... the 'gift that keeps on giving'.
Back in the 1980s, things were far simpler... in the twilight zone, not least around Christmas time.
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Goodnight
from London
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