Weekly Market Review

While the equity market continued to drift sideways near a high set a few weeks ago, traders need to concentrate on the cues for the next market move that will lead to a breakout. The Nasdaq Composite and Standard & Poor’s 500 Index saw gains versus the Dow Jones Industrial Average. Investors are hopeful further stimulus measures from the Fed will boost the economy. At the same time, on the other, the risks of COVID continue to weigh on the economy.
In our view, what is likely to happen is that the latest round of stimulus measures will be passed into law by the middle of March and include another check for most American consumers. One of the final sticking points to be decided is who, exactly, will get another tab. This bill also increases the minimum wage and the unemployment benefits, which include a one-year extension.