Stocks Continue to climb:
Recently, multiple stocks, including the Dow and S&P 500 which both set record highs. This is mainly due to the new coronavirus relief packages. Specifically, The U.S. House of Representatives voted to pass a $1.9 trillion coronavirus relief package on Wednesday. It is crazy to think that it has already been a year since the World Health Organization decided to call the coronavirus a world pandemic. Hopefully, this is the last relief package that will have to be put into play as the coronavirus is starting to subside. Thanks to the mass distribution of the vaccines, we can hope to see the virus soon fade away.
Another stock to keep your eye on and The Coronavirus Relief Package:
Roblox is a video game platform that just had its IPO on Wednesday and will begin trading on the New York Stock Exchange. Since Roblox is a younger-aged based platform, the urgency to bring in more adult users caused controversy within. However, weighing in the benefits, we can assume Roblox is on the right track. Furthermore, Nasdaq has always seemed to be a good index to follow and even more recently after the index climbed about 2%. The main reason all these stocks are thriving is mostly because of the coronavirus relief package that was signed by President Biden on Thursday, March 11. After making its way through the House and Senate very quickly, the relief package has been signed. I’m sure that the government won’t hesitate to start sending out the checks and PPP money as soon as possible. As it will not only benefit the people struggling with coronavirus but also help with the distribution and production of the Vaccine. Ultimately, distributing the vaccine is the most important thing on the agenda right now. I assume the quicker the vaccines are distributed, the quicker the country will get back to normal. Now that the country is seeing a good chance of economic recovery, the market should begin to flourish once again.
More Good News to come:
According to Bloomberg consensus data, job openings rose to 6.9 million at the beginning of the year. This is great considering a lot of jobs were lost amid the virus. Although being job-less might not have affected you directly, I’m sure we can all agree it’s a pretty great sight to see the steps being taken to finally get this country back on its feet. By creating these job openings and allowing people to get back to work has multiple benefits. While it does directly help the people and families that have been struggling to find a job, it is also very helpful in order to contribute to a boost in the economy. And a boost in the economy means a boost in overall spirit throughout the country. That’s just what we need in these times. It has been far too long since the country has operated in a ‘normal’ sense. We are near the finish line and the people of America see it coming.
Overall, the most important news this week is Biden signing the coronavirus relief package. This directly caused many benefits in the economy. Including; Americans receiving aid from the impacts of the virus, the stock market reaching all-time highs, and finally the economy beginning to stabilize. After the recent events this week, I’d say the future is looking bright for our country.
Stay tuned for next weeks blog post to stay up to date on current events in the stock market and economy. Feel free to call us at 561-705-2005 or visit our website AskWealthCare.com
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