PHILADELPHIA – Nationally syndicated host and biblical investing authority Dan Celia analyzed the current financial trends, as well as the fate of recent infrastructure bill in the Senate.
The Fate Of Recent Infrastructure Bill
“Markets looked very good on Wednesday, not just because things were positive," stated Celia. “Everything was up about three quarters of 1%. The NASDAQ almost up a full 1%. The Dow is back to where it was before the open on Monday, and Russell 2000 had a very good day. This is a little bit of an index or gauge of small cap stocks up 1.8%.
Tiger Legatus Master Fund was up 0.1% net for the second quarter, compared to the MSCI World Index's 7.9% return and the S&P 500's 8.5% gain. For the first half of the year, Tiger Legatus is up 9%, while the MSCI World Index has gained 13.3%, and the S&P has returned 15.3%. Q2 2021 hedge Read More
“The real big news is that there seems to be some conviction coming back into the markets," Celia noted. “Most believe that we are likely to continue this run for some time, with nothing out of the federal reserve. We did hear some news coming out of Congress that Senator Lindsey Graham and others in the GOP are indicating that they will not pass this first round of the infrastructure bill or a spending bill; it’s just too much money. Hopefully they can get another vote with a different package. I don’t think they will. I think the Democrats are going to be okay with this bill not passing and then take the opportunity to force through the bill that they really want. This current bill isn’t fulfilling all of the dreams and wishes of the Left.
Celia goes further: “There is a lot of talk, even in the midst of this rally, about COVID. Is it spreading? Is it going to get worse? People aren’t getting vaccinated, and on and on it goes. The only people that seem to be happy is Wall Street as they continue picking up their buying spree. We’ll see how the rest of the week ends; it’ll be an interesting next week as we really get deep into earnings."