The S&P 500 closed at one other document excessive at present at 3,443.62. The NASDAQ hit a document excessive, too. The Dow is nicely on its approach.
However the pandemic retains taking lives, new unemployment claims rose once more and shopper confidence has taken a dive. In case you take heed to our present, you realize we’re fond of claiming, “The stock market is not the economy.” As a result of it isn’t: The wealthiest 10% of Individuals now personal 87% of stocks and mutual funds out there.
So what’s going on? Why are the stock market and the economic system diverging so sharply? To search out out, we referred to as up New York Instances markets reporter Matt Phillips. He’s been writing concerning the disconnect and the way, for a lot of Individuals, the conduct of the market turned a preferred indicator of general financial well being.
Later, we’ll debate the fracas at Syracuse College and the professionals and cons of an astroid hitting our planet. Plus, a bunch of listeners wrote in to inform us what the pandemic isn’t screwing up for them; we’ll share a few of their solutions.
While you’re finished listening, inform your Echo gadget to “make me smart” for our day by day explainers — this week we’re speaking concerning the 19th Modification, the NBA bubble and extra. Lastly, don’t overlook to subscribe to our e-newsletter! You will discover the most recent challenge right here.
Right here’s a listing of all the things we talked about at present: