Following a day in which markets had their best session in 8 months, stocks are taking a breather this morning as stocks are now mixed in early trading.
Of special interest is a proposal being presented by Elizabeth Warren that calls for a “wealth tax” in which anyone with a net worth above $50 million will pay 2% of every dollar over that amount … which, of course, might get approval from those not at this lofty level … and for those above it? Well … some might be on the phone right now with their accountants figuring out ways to shield themselves as best they can if this proposal does end up having teeth.
Daily Shot is reporting that hiring is up but companies are still having problems finding qualified workers. What does this mean? Well, it tells me not to be so fast in throwing out my receipts. Meanwhile, ISM (“Institute for Supply Management”) tells us that delivery times appear to be slowing, along with order backlogs.
But don’t be so fast to think that factories will be filled by ex-waiters and waitresses as Capital Economics is reporting that restaurant activity (using information supplied by Open Table) for in-person dining is trending up … not a lot … but we’ll take it. And with vaccines increasing and the onset of spring there appears to be some optimism that this will continue to advance.
There is one bit of concern to keep an eye on from something I saw in a Statista chart as it seems Covid cases among kids is on the rise. At first I shrugged and thought it due to the increase in vaccines … but then I noticed it has been inching up for quite some time … even before the vaccines were approved and made available.
On a final note for today I included some health articles and … maybe because I’m getting older … included ones on reduction in both hearing and vision as we age.
Of special interest was the last note, as a group feels that eye drops in the future can eliminate the need for reading glasses.
I researched this and learned a few things.
With regard to your body, I was amazed to find out why your pupils are the last to go.
It’s because they dilate.
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 10:21 AM today …
Quick Look at the News
While we all are excited about the (hopeful) end or slowdown of the virus, there are many areas where it is still raging, and the World Health Organization doesn’t see an end this year (USNews)https://www.usnews.com/news/business/articles/2021-03-01/who-premature-unrealistic-covid-19-will-end-soon
… meanwhile it has been quite an ordeal to try to get vaccinated … and now there is talk about a booster shot … a third poking … might be needed (Prevention)https://www.prevention.com/health/a35644466/covid-19-vaccine-booster-shot/
At least there is one thing to look forward to as Krispy Kreme is having a week-long special of two dozen for the price of one. But with offices closed who will eat them all? Me. (ThrillList)https://www.thrillist.com/news/nation/krispy-kreme-bogo-free-donuts-deal-march-2021
… I really want to try this the next time I need to crack an egg. I guess you can teach an old dog new tricks (ReadersDigest)https://www.rd.com/article/egg-cracking-hack/
At least hearing aids will continue to get smaller. There is one view going out that a quarter of us will have hearing problems by 2050 (News18)https://www.news18.com/news/world/1-in-4-people-will-have-hearing-problems-by-2050-says-who-3488735.html
… but we hope that new discoveries by then will combat that. With old age comes hearing and vision problems … but special eye drops might eliminate the need for reading glasses (USAToday)https://www.usatoday.com/story/news/health/2021/03/02/fda-approval-eye-drops-submitted-help-presbyopia-patients-read/6834903002/