On days when Wall Street focuses on the likelihood of Congress passing a new $1.9 trillion coronavirus stimulus/relief package, stocks rally. Why not? What's not to like, in the short term, about putting $1.9 trillion into the economy? On days when Wall Street focuses on all the heavy lifting that it take to pass such as bill and on Republican opposition to the package stocks waver as they did last Friday. And on days like today when Wall Street can't decide what it thinks about the prospects for the Biden administration's coronavirus package, stocks dither
Nidec (NJDCY) shares gained another 7.69% today, after the maker of electric motors for hard drives, robots, and electric vehicles, raised its annual outlook for the fiscal year that ends on March 31. The new outlook forecasts operating income of 155 billion yen ($1.5 billion) versus the older forecast of 140 billion yen. The company authorized share buybacks of up to 50 billion yen, or about 0.7% of the company's stock.
After barely dragging higher over the last month, big tech stocks turned red hot this week. And next week, when we get earnings from Microsoft (MSFT), APPLE (AAPL) and Facebook (FB) could be even hotter.
The reserves of the trust fund that pays retirement and survivor benefits will be unable to pay full benefits in 2034.
I'm starting up my videos again--this time using YouTube as a platform. The seventh video "5 picks for after the pandemic" went up today.