I usually like to start these weekly wrap up newsletters by telling you what an exciting week we’ve just had. While I would like to continue that tradition today, it has been a pretty boring week in the stock market. And with congress making no progress on the new stimulus bill this week, Americans continue to sit and wait…
Here’s the Latest on Congress and the Coming Stimulus Bill…
Traders continue to patiently wait for Congress to pass a stimulus bill. But, as we’ve come to expect, things are being held up by partisan, political games.
What I don’t like is that these politicians are playing these games over human lives! There are people that NEED Congress to approve this stimulus bill so they can afford to survive. In the meantime, Washington continues to delay and argue over every small detail.
Why should this stimulus bill be any different than any other decision the government makes? I think they will bicker until their feet are held to the fire and then they will reluctantly cave on a so-so plan for the American people.
If you can’t tell, all this political excitement has left me a bit pessimistic. That being said, I’ve welcomed a slow news week with open arms!
But we can’t let one slow week give us too much comfort. A lot can happen in a day, and we could be looking at major market news by Monday morning.
While we’re waiting on a struggling Congress to pass a stimulus bill, desperate traders are scraping the bottom of the barrel right now, looking to jump on any opportunity they think will be a winner. As a result… the department store sector actually had a pretty strong week! Who thought I’d ever say that again?
But several in the retail sector NEED a stimulus to be able to stay afloat during these tough times. It will come to them — and us — eventually. The real question is not if but when. And the answer to that question is more important than you think!
Join me below as I review more of these market insights, how Europe’s market is fairing during these turbulent times and when I foresee us getting out of this mess!
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