by Tyler Durden
Tuesday, Mar 16, 2021 - 07:59 AM
Exactly one year ago today, the financial world as we know it was on the verge of collapse, with the Dow Jones plunging to 20,000 after the VIX exploded to a record 82.69.
Fast forward to today, when the market is about 66% higher, and on Tuesday morning futures on both the S&P 500 and the Dow Jones edged higher hitting fresh all time highs -
the Dow notched its sixth consecutive all-time high on Monday on optimism over a $1.9 trillion fiscal stimulus package - for the second day in a row while contracts on the Nasdaq 100 rose about 0.5% by 730 a.m. ET, pointing to an extension of a rebound in technology stocks that were at the heart of February’s selloff. The Nasdaq 100 is still about 5% below its Feb. 12 record closing high. Traders were looking ahead to today s industrial production and retail sales data (which as a reminder, will be a huge miss), while the Federal Reserve was set to kick off its two-day policy meeting.