On some American holidays, the stock market can be like the gift that keeps on giving. Even if you have an entire day where the US markets are closed and a shortened day the next.
Here are the most important numbers you need to know about Friday’s trading session:
- Dow Jones: +0.1% (+2.2% for the week)
- S&P 500: +0.3% (+2.3% for the week)
- NASDAQ: +0.9% (+3% for the week)
An all-time high was reached by both the NASDAQ and the S&P 500, while the Dow Jones reached the benchmark of 30,000 points earlier last week. And unless something goes terribly wrong today, November will have been an extraordinary month for the stock market:
- The 2020 Presidential Election, with Donald Trump showing some signs of possible concession to projected President-elect Joe Biden
- The release of THREE COVID-19 vaccines that all claim to have an effectiveness rate of 90%
As Black Friday raged on, and with Cyber Monday happening today, many people are starting to look at this once-a-year event for massive discounts as a sign of future economic activity. At least according to SIA Wealth Management’s chief market strategist Colin Cieszynski:
“It’s a light day for news today but over the weekend and into Monday investors may look for Black Friday/Cyber Monday sales results for indications of consumers’ willingness to spend amid current COVID and economic uncertainty, and whether spending has shifted more online this year.”
And all of this is still going on DESPITE the COVID-19 cases going up and up and up. We’ve already had 13.4 million cases country-wide, 267,000 deaths, and just three days ago we had over 200,000 new COVID-19 cases reported within a span of 24 hours.
For the sake of the American economy and the pharmaceutical companies, the vaccines had better work as well as promised to reduce the spread of the virus. Because these numbers can’t keep going without some cataclysmic outcome. Something is going to happen, and nobody is going to like it…
What do YOU think about the performance of the stock market on Friday, if you were watching at all? And how do you think the month of December will play out? Reply to this newsletter and let us know!
Black Friday Had GREAT Online Sales but AWFUL Retail Sales…
Black Friday 2020 was something extraordinary to see, especially in the face of a worldwide health pandemic.
What’s even more fascinating are the numbers that show an increasing shift towards e-commerce and away from traditional retail stores:
- Total online spending = $9 billion, according to Adobe Analytics (+21.6% up from last year)
- Foot traffic at retail stores = -52.1% compared with Black Friday 2019, according to Sensormatic Solutions
- Estimated decrease for traffic at retail stores over the 2020 holiday season = -22% to -25% year-over-year
Adobe Analytics has a rather shocking conclusion to be drawn from this data that relates to Cyber Monday happening today, per CNBC:
“That makes Black Friday 2020 the second-largest online spending day in history in the United States, behind Cyber Monday last year… Cyber Monday this year is slated to become the largest digital sales day ever, with spending reaching between $10.8 billion and $12.7 billion, which would represent growth of 15% to 35% from a year earlier.”
Anybody who was smart enough to make a full transition towards e-commerce is being rewarded, while those who stubbornly stuck by their guts are being financially tormented. Even when the COVID-19 pandemic is over, people will continue to have a much greater preference for buying nearly everything online.
Let’s see if we can smash the record today and have the most profitable online shopping day yet!
What Other COVID-19 Vaccine Stocks Are Worthwhile Investments?
If you didn’t get into Moderna, Pfizer, or AstraZeneca once the news was announced about their “90% effective” COVID-19 vaccines… or you did not have the foresight to invest in these companies long before the good news came out, you may have missed the initial uproar.
That doesn’t mean the COVID-19 vaccine race is over, nor does it mean there isn’t an unbelievable amount of money to be made from investing in other companies who are doing something to stop this pandemic from getting worse.
The Motley Fool contributor Keith Speights has two companies in mind that he believes will be “millionaire-maker” stocks…
Vaxart – Its COVID-19 vaccine candidate VXA-CoV2-1 is the ONLY one which can be delivered in a single tablet. No injections necessary, and it is in the middle of Phase I clinical studies. You have NO idea how many people hate injections and prefer a pill, so I’m not surprised their stock has gone up by 1,900% in 2020 alone.
Novavax – These guys, have NVX-CoV2373, their COVID-19 vaccine candidate that is wrapping up a late-stage clinical study this week. If the latter is effective, it will manufacture 276 million doses for the US, Canada, the UK, and Australia. On top of receiving $1.6 billion in funding from the US Government’s “Operation Warp Speed”, shares are up +3,000% in 2020.
I could list several other companies, but I think you get the point. No matter how oversaturated you think a niche is, there is ALWAYS money to be made!
More Than 50% of US Adults Live in Their Mother’s Basement (No, Really)
I’m starting to lose faith for the future of humanity. Not because it’s going to be run by smartphone-addicted liberals who are completely out of touch with the rest of the world, but because of their financial ineptitude.
Case in point: The Visual Capitalist just painted a drastic picture of the “you live in your mother’s basement” joke becoming a real-life crisis.
- From 1940 to 1960, the number of US adults (ages 18-29) living with their parents went down from 48% to 29%.
- Since then, the rates have shot up from 29% to 52% in 2020.
We haven’t seen this level of coddling grow so high over the last 120 years as it has now. Even the highs of the time period following the Great Depression weren’t this bad. And before the two financial crises we had in 2008 and 2020, the rates were STILL going up.
But then you have to wonder: How many US adults live with their parents due to laziness and convenience, rather than being unable to afford their own place and get a decent-paying job? Because I know some adults who stayed with their folks a year or two to save up for a house, or until they tied the knot.
Yet those are the rare exceptions. In the majority of cases, tackling on more educational degrees has apparently been a useless endeavor in finding a stable career for life.
When You Make a Certain Amount of Money, Wild Spending Habits Won’t Hurt You… or Will They?
This story is so unbelievable I had to share it with you…
The Financial Post recently wrote a profile about a 32-year-old emergency room doctor in Toronto, Canada named Michael who makes an unbelievable amount of money – $2,300 per shift, for 11-18 shifts per month ($25,300-41,927).
And get this… the man can literally spend whatever he wants and never has to worry about not having any leftover money for essentials… EVEN when this unmarried man spends $17,482 per MONTH:
- $7,038 for housing on a $1.4 million condo (condo fees, property taxes, utilities, etc.)
- $2,506 on food and drink ($1,000 on restaurants, and just $96 for groceries)
- $2,672 in work expenses mostly allocated towards his assistant, on top of malpractice insurance and professional association fees
- $511 on spa treatments, $926 on a two-week trip to Calgary
On top of that, he has hundreds of thousands of dollars saved across numerous banking accounts… while putting away as much as $24,085 per month in savings. He could save a TON more money and retire by age 35, but even with the way he’s going about life right now, he’s still ahead of 99% of the human population.
What do YOU think about Michael’s spending? Reckless, or is he on the fast-track towards millionaire status by age 35 with just a few small changes? Reply to this newsletter and let us know what your advice would be!
Want to Live on Florida’s Fisher Island? $2.2 Million Per Year, Please!
A shocking thing about the rich is that they purposely hide themselves in locations where other rich people live. Somehow, these locations completely escape the radar of your average person.
Bloomberg recently did a profile about Fisher Island in Florida, which is apparently the wealthiest zip code in the United States as of 2018, according to the IRS. It was part of a piece to look at how housing prices have risen since the pandemic, especially in wealthy locations:
“Fisher Island, a 216-acre barrier island near Miami, is once again the wealthiest zip code (33109) with an average income in 2018 of $2.2 million, according to the Bloomberg analysis… To be included among the top 100 on this year’s ranking, a zip code needed an average income of more than $405,000.”
What a time to be alive! The rich are working harder than ever before to get away from the general public and closer with people who are presumably more like-minded. You get to enjoy the fruits of life while avoiding the problems faced by America’s middle class.
Just something for us to gradually aspire towards as we build ourselves up towards eventual financial freedom…