Tuesday Market Wrap
US stocks sank on Tuesday with tech shares among the worst performers. Uncertainties surrounding spiking coronavirus and the $1 trillion stimulus package unveiled by Senate Republicans also weighed down stocks today. Bitcoin finally did what many crypto traders have been waiting for. It has now traded above 11k for the past 2 days. This is the first time in six weeks that the cryptocurrency has traded above 10k. while the dollar continues to fall. The dollar added a 93 handle in this week’s trading session.
More in news of the dollar, “Goldman Sachs Group Inc. put a spotlight on the suddenly growing concern over inflation in the U.S. by issuing a bold warning Tuesday that the dollar is in danger of losing its status as the world’s reserve currency.” I wrote about this yesterday in my post about the dollar crisis, I will add a link here if you are interested in reading deeper into that issue.
Real Estate led the way out of today’s top-performing sectors, while materials lagged.
There are less than 100 days to go until the presidential election, a Bloomberg poll shows that Joe Biden is somehow leading President Trump in three battleground states Trump won in 2016. It seems these states must have also lost their mind.
College life this fall is going to be nearly the opposite of what the college’s pitch as the college experience. Both on-campus and for the college towns that depend on the flux f students to feed their small businesses. Meeting friends, dorm life, socializing, and attending classes are among the “high risk” activities in terms of spreading Covid-19. Mainly because they involve prolonged indoor personal contact, something that most Americans did on a regular basis up until the beginning of this year