At the moment stocks are mixed as many investors are hoping their wounds heal from yesterday’s battle with the markets.
Investors are understandably torn as the tea leaves appear to be different every time they look into their cup. So they are left with asking themselves some pretty important questions such as: will rising yields drive stock prices down? Is it time to take profits in things I own that jumped strictly on hope and dreams? Both of these they struggle with as they read what the press appears to portray in many strategists feeling the economy will soar towards the end of this year.
And why might strategists think this? Pent up demand. At first it seemed a bit problematic, as we need herd mentality for people to comfortably to go out again and many were hesitant about … not only the vaccine … but tip-toeing out into society once the virus severity seemed to be reduced.
Fortunately, three things happened very recently that may help soothe nerves. Right now people are becoming more favorable about receiving the vaccine … which will very much help with herd mentality. In fact, a majority of Americans now feel that way … and the trend appears that even more will join that group. Secondly, another supplier is entering the arena … and availability seems to be increasing rapidly. And … lo and behold … Anthony Fauci has given his blessing and tells us that people who have received both shots should be able to socialize together soon. Of course, every silver lining seems to have a cloud and his statement that this is due more to common sense than data … well … personally, I’d like to see a little bit more than that.
Stimulus is in the news of course and an increase in minimum wage was removed from the stimulus plan … but it is important to note that this is not the end of its possible adoption. It is just that it would be addressed separately.
On a final note for today … it seems that there will soon be a change with Mr. Potato Head … as the company decided to make it more … um … “gender neutral.” So “Mr.” will no longer headline the packaging.
Fortunately, it will still be sold and I will be picking one up at FAO Schwartz when I next visit Manhattan … oops … I mean Personhattan.
That’s about if for today. I am just glad vaccines are plentiful and we might be able to start travel again.
I was thinking of visiting a friend in St. Louis … which is now cheap as the state is really rolling out the red carpet for tourists … although I don’t know why the new slogan hasn’t been advertised more …
Missouri loves company.
Have a great day,
Joseph G. Witthohn, CFA
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
Direct: (610) 285-9905
cell: (856) 625-7915
… As of 11:33 AM today …
Quick Look at the News
It looks as if stimulus is very much in play right now but those hoping for action on minimum wage will just have to wait (CNN)https://www.cnn.com/2021/02/25/politics/minimum-wage-covid-relief-senate-parliamentarian/index.html
… but things are happening in other areas … such as the vaccine … as one more company is about to release supply following FDA approval (USAToday)https://www.usatoday.com/story/news/health/2021/02/26/j-j-covid-vaccine-fda-coronavirus-pfizer-moderna/6806367002/
… and with the decrease in cases … in line with the increase in those getting the vaccine … more Americans appear to be in favor of getting vaccinated (ABC11)https://abc11.com/10372272/
We know that many would like vacation homes but it is important to remember “caveat emptor” (“let the buyer beware”) … as while your property may be nice, the views can change (DNYUZ)https://dnyuz.com/2021/02/26/home-buyers-beware-views-are-not-guaranteed/
It seems residents of nursing homes have been getting the vaccine at a rapid pace … and that helps relieve one problem … but another one is in store as many are on poor financial footing (DNYUZ)https://dnyuz.com/2021/02/25/a-second-crisis-looms-for-us-nursing-homes/
Alas, it seem Mr. Potato Head might not be with us much longer … as there is a change in the branding to make it more gender neutral. (FoxNews)https://www.foxnews.com/lifestyle/hasbro-rebranding-mr-potato-head-gender-neutral