Merely dealing with partisan gridlock the dow inched up two points and the nasdaq jumped 1. 12 , this i what we have to think about. Six months ago it looked like the world was ending everyone in congress had a reason to reach a compromise both sides have an incentive to be more stubborn they get to blame each other in the runup to an election but as Speaker Pelosi told me this morning, the deal is still on the table. I took her full statement as a sign getting a deal done could be extremely difficult im saying this purely in micah pasty as your investing coach without a stimulus deal, there will be a ton of private company losers and could be a much worse place a year from now if we get a vaccine by the end of the year too many struggling Small Businesses cant wait that long. Now if you got a white collar job you can do from home you may not realize how bad it can be. The future is fine for anyone that can work from home whether we get another bailout or not. For millions of americans
Nasdaq edged down 0. 07 . It may be hard to follow Interest Rates or politics, its a lot ease yore the bet on great themes if you want to make great money i had the great privilege to interview dave coaty, former ceo of honeywell, now an check tif with verfiv. Its a special acquisition company. This guys a phenomenal manager, consistently crushed the s p 500 when he was running honeywell, but when he retired and turned it over, many people he might be done running business. I was thinking he might be no not for cody its too much fun. He likes business too much he didnt quit he raised some money, looked around for a business that seemed to have the wind at its back, a business thats growing much faster than the broader u. S. Economy, thats not hostage to global trade or politics or the federal reserve. He came up with the data center. In particular data centers that can deliver Digital Information at lightning speeds. Stha that was his path. Why was he interested in this particular comp
Lucrative. [ ka ching ] especially when the risk seems washed out by multiple town days including days like today that opened horrendously. The dow at one point down 135 points but then finishing strong. Hallelujah the dow gaining only 68. Nasdaq climbing. 86 . It was the kind of comeback that only happens when a market is oversold and investors have said, enough already. Im going to hold on to what i have left. What do i mean when i say the market is making sense . How about the fact that the slowing growth of the Global Economy and the negative manufacturing data we have seen in this country of late have caused Interest Rates to go low and thats logical. Rates are low. Housing becomes affordable. When housing is affordable people switch from renting. Especially in a situation where rents are about the highest they have ever been when you relate it to the cost of buying a home. Throw in that the banks are willing to lend a bit more with less of a down payment to people who need a loan
Getting better . What if the Global Economy is truly gaining momentum . Hey, thats what were starting to hear, but few people seem to be listening. Im certainly paying attention, though. Especially as the dow reaches an alltime high for the first time in over a year. Hallelujah the s p sets a record close for the second day in a row. That was easy. Bold claim. Things might be Getting Better but how about i give you some evidence . I always tell you to listen to that alcoa conference call. So many uses. Alcoa is plugged into so many end markets. Better than any economist at any Brokerage House thats ever going to give you. Last night alcoa painted a truly remark bl picture of a world on the move. Ceo klaus klein fell has been talking about illuminizatoin. Replacing steel in car parts, expected to grow at a 20 climb at least until 2020. Kle kleinfeld knows about autos. Unequivocally bullish. Strong demand not just behind us, but ahead of us. Much more important, though, remarkable reads