OPINION

Biden Talks Unity, But Will He Follow Through?

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It was a short inauguration speech which is fine with me.  The overarching theme of unity and hope should be benchmarks we can use and remind the new administration of when policies or actions don’t jibe.   The litany of executive orders will not help but the real first test will be the next spending plan.

Will it be crafted in a way that invites bipartisan approval or will it be rammed through using budget reconciliation?

I hope that is the case and I would love to see President Biden derail impeachment efforts which are being used by the media to continue attacking folks that were not involved in the Capitol riots. 

Now to the market.

Another great session with financials the only laggard which is intriguing in the sense big banks were supposed to lead the market higher early in the earnings season.

Instead, its Communication Services led by Netflix (NFLX) and Technology led by juggernauts Microsoft (MSFT) and Apple (AAPL).

S&P 500 Index

+1.31%

 

Communication Services XLC

+3.08%

 

Consumer Discretionary XLY

+1.76%

 

Consumer Staples XLP

+0.02%

 

Energy XLE

+0.07%

 

Financials XLF

 

-0.52%

Health Care XLV

+0.48%

 

Industrials XLI

+0.45%

 

Materials XLB

+0.13%

 

Real Estate XLRE

+2.19%

 

Technology XLK

+2.01%

 

Utilities XLU

+0.65%