Tuesday Sees Senate’s $1.2T Infrastructure Bill Pass, Dow 30 & S&P Records, & $FSR $INM $INMB $INVO $SCPE Move Higher

Happy Tuesday!

I hope all of you made a fortune in the market today. As for the market indices, it was overall a positive day, except for the Nasdaq closed lower at 14,788.09 (-.49%).  The S&P 500 closed at 4,436.75 (+.10%) a new record, the Dow 30 closed at a record high to at 35,264.67 (+.46%), & the smalls on the Russell 200o closed at 2,239.36 (+.2%. The MicroCaps also moved higher as the iShares Micro-Cap ETF (IWC) closed at $146.17, (+.46%).

Nine of the 11 S&P 500 sectors closed in the green led by the energy sector rising 1.5% as oil prices revered and rose to $68.43/bbl, +.21%. The materials sector also moved up +1.5%, while the industrials & financials also added 1%. The 3 sectors that ended in the red were the real estate sector which was off 1.1%, the highly-weighted information technology sector that closed down .7% & the health care sector which ticked down -.2%.

‘Big’ news came today from from Capital Hill as Uncle Sam promises and the Senate passed a $1.2T infrastructure bill that will now go on to the House for another vote. The bill includes $550B in ‘new spending’ that includes $110B for roads & bridges, $66B for passenger & freight rail, $65B for broadband internet, +$50B for water infrastructure, $39B for public transit, &  $25B for airports. Amazingly, the $1.2 Trillion is reportedly being handcuffed by Nancy Pelosi who is securely fastening it to yet another printing press, which must be approved along with $3T budget resolution plan. Yikes, will anyone ever need or want to work again…? By the way, one of the EV companies, Fisker, Inc. (FSR) seemingly benefited as investors traded it up +21.56% as closed at $18.27.

The macroeconomic schedule also delivered the productivity report which confirmed that it moved up by 2.3% in Q2 & that unit labor costs rose 1%, but both were below expectations.  The NFIB Small Business Optimism Index report for July also fell to 99.7. Tomorrow’s schedule will bring the Consumer Price Index report for July, the Treasury Budget report for July, & the weekly MBA Mortgage Applications Index report. 

The yield curve moved higher again as the close the 10-yr treasury yield closed up 2 basis points at 1.34% & the 2-yr yield moved up 3 basis points to close at .23%. The U.S. Dollar Index closed up .1% at 93.07. Gold prices slid $2 to close at $1,729 and silver closed at $23.34, -$.14.

BIOTECH MOVES LOWER

The SPDR S&P Biotech ETF (XBI) closed at $126.48, -.82%, the iShares Nasdaq Biotechnology ETF (IBB) closed at $173.02, -1.81% & the NYSE ARCA Biotech Index (^BTK) closed at 5,909.19, -1.28%.

Pfizer (PFE) rose 4.81% today as COVID-19 stocks have been running this week along withes Delta scare reports. 

TECH

The massively weighted shares of Apple (AAPL) closed at $145.60, -.34% today & Tesla (TSLA) ticked lower to close at $709.99, -.53%.

Shares of chip maker NVIDIA (NVDA) closed at $199.36, -1.77%. Widely, semiconductor stocks realized an elevation of downward pressure today as an industry report stated that PC DRAM prices are expected to decline by nearly 5% qtr/qtr in Q4/2021. 

Microsoft (MSFT) closed at $286.44, -.66%.

Amazon.com (AMZN) closed at 3,320.68, -.63%. 

Coinbase (COIN) fell 3.85% to close at $2,269.67, but reported Q2 financials on Tuesday after the close handily beating expectations as trading volumes and users surged. Net Income of $1.6B with $4.4B in cash and cash equivalents. Shares of COIN are up in the aftermarkets in the $270’s. Its April IPO price was $250. 

SC Health Corporation (SCPE) surged to $16.41/share prior to closing at $16, +53.11% today. SC Health is a special purpose acquisition company (SPAC) incorporated in the Cayman Island & was structured to acquire a target with operations or prospects in the healthcare sector in the Asia Pacific region, which may be a platform in the Asia Pacific region or a global platform with a meaningful Asia Pacific growth thesis. 5-months ago, Rockley Photonics, Ltd., a leading global supplier of integrated silicon photonic chips and modules across multiple markets, announced that it had entered into a definitive agreement to combine with SC Health Corp. The transaction will result in Rockley becoming a publicly traded company on the NYSE under the symbol RKLY and reportedly values the Company at a pro forma enterprise value of $1.2 billion.

MEMES MOVE LOWER

AMC Entertainment (AMC) closed at $31.75, -6.07% after reaching an intraday high of $37.10. This morning AMC reported better-than-expected Q2 results on both the bottom and top lines, while the CEO confirmed that they would be taking Bitcoin as payment the US by the end of 2021.

GameStop (GME) also closed at $159.05, -1.29%.

Virgin Galactic Holdings (SPCE) closed at $31.33, -11.02%. 

Infamous ‘meme brokerage’ firm Robinhood Markets, Inc., (HOOD) closed at $53.94, -5.09%. Reportedly, ~300k Robinhood users bought company’s IPO shares recently at $38! Today, according Barron’s HOOD has agreed to acquire all of Say Technologies, a communication platform that aims to help shareholders take part in proxy voting, for about $140M in cash.

Economic Reports

• On Monday, the macroeconomic schedule delivered the JOLTS (job openings) report for June that confirmed a record-high of 10.073M openings. 
• On Tuesday, the productivity report  confirmed that it moved up by 2.3% in Q2 & that unit labor costs rose 1%, but both were below expectations.  The NFIB Small Business Optimism Index report for July also fell to 99.7. 

Investing & Inspiration

1. “It’s only natural that the heavy users help contribute to the investment to keep the Web healthy. That is the most important concept of net neutrality.” – Lowell McAdam
2. “The more sand that has escaped from the hourglass of our life, the clearer we should see through it.” – Jean Paul 

3. “Eliminate emotion from your investment program.” -John C. Bogle

4. “Modern medical advances have helped millions of people live longer, healthier lives. We owe these improvements to decades of investment in medical research.” – Ike Skelton
5. “In every investment, before I get involved or invest, I always see what the mindset of the founder, the CEO, is.” – Zaza Pachulia
6. “An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can’t easily recognize that they are the same.” – Daniel Kahneman
7. “The return on investment in global health is tremendous, and the biggest bang for the buck comes from vaccines. Vaccines are among the most successful and cost-effective health investments in history.” – Seth Berkley
8. “Few things in the world are more powerful than a positive push. A smile. A world of optimism and hope. A ‘you can do it’ when things are tough.” – Richard M. DeVos
9. “To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment.” – Ralph Waldo Emerson
10. “We all have dreams. But in order to make dreams come into reality, it takes an awful lot of determination, dedication, self-discipline, and effort.”  – Jesse Owens
11. “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward- American Writer, Born 1921
12. “Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson
13. “The secret of your future is hidden in your daily routine.” – Mike Murdock
14.  “If somebody puts you down or criticizes you, just keep on believing in yourself and turn it into something positive.” – Leah LaBelle
15. “Opportunity is missed by most people because it is dressed in overalls and looks like work”. -Thomas A. Edison
16. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey

17. “Human behavior flows from three main sources: desire, emotion, and knowledge.” – Plato

18. “We are what our thoughts have made us; so take care about what you think. Words are secondary. Thoughts live; they travel far.” – Swami Vivekananda
19. “Success is not final, failure is not fatal: it is the courage to continue that counts.” – Winston Churchill

20. “If you don’t know where you are going, any road will get you there.” – Lewis Carroll

21. “Don’t worry about being a star, worry about doing good work, and all that will come to you.” – Ice Cube

22. “It is not in the stars to hold our destiny but in ourselves.” – William Shakespeare

23. “Prediction is very difficult, especially if it’s about the future.” – Niels Bohr (Danish Physicist)

24. “It is indeed true that the stock market can forecast the business cycle.” -Paul Samuelson

25. “The wisest rule in investment is: when others are selling, buy. When others are buying, sell. Usually, of course, we do the opposite. When everyone else is buying, we assume they know something we don’t, so we buy. Then people start selling, panic sets in, and we sell too.” – Jonathan Sacks

26. “What lies behind you and what lies in front of you, pales in comparison to what lies inside of you.” – Ralph Waldo Emerson
27. “Each new generation born is in effect an invasion of civilization by little barbarians, who must be civilized before it is too late.” – Thomas Sowell
28. “Life is 10% what happens to you and 90% how you react to it.” – Charles R. Swindoll
29. “The truth is you don’t know what is going to happen tomorrow. Life is a crazy ride, and nothing is guaranteed.” – Eminem

30. “View health as an investment, not an expense.” – John Quelch

31. “Opportunity does not knock, it presents itself when you beat down the door.” – Kyle Chandler

32. “If you don’t know where you are going, any road will get you there.” – Lewis Carroll
33. “Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson
34. “That which does not kill us makes us stronger.” – Friedrich Nietzsche
35. “Nothing in life is to be feared, it is only to be understood. Now is the time to understand more, so that we may fear less.” – Marie Curie
36. “A problem is a chance for you to do your best.”–  Duke Ellington
37. “The best way to predict the future is to create it.” -Peter Drucker
38. “I’m involved in the stock market, which is fun and, sometimes, very painful.” – Regis Philbin
39. “Who owns the future? This is the question at the heart of every stock market.” – John Landgraf
40. “One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.” – William Feather
41. “While I’m sure some millennials are concerned with the ethical issues involved in mining for diamonds, the main reason they steer clear of the gems is because, well, they’re a dumb investment.” – Ana Kasparian
42. “The wisest rule in investment is: when others are selling, buy. When others are buying, sell. Usually, of course, we do the opposite. When everyone else is buying, we assume they know something we don’t, so we buy. Then people start selling, panic sets in, and we sell too.” – Jonathan Sack
43. “We must shift our thinking away from short-term gain toward long-term investment and sustainability, and always have the next generations in mind with every decision we make.” –  Deb Haaland
44. “The only way to have a friend is to be one.” –  Ralph Waldo Emerson
45. “If you believe in yourself and have dedication and pride – and never quit, you’ll be a winner. The price of victory is high but so are the rewards.” – Bear Bryant

46. “Investing in women’s lives is an investment in sustainable development, in human rights, in future generations – and consequently in our own long-term national interests.” -Liya Kebede

47. “Success is not final, failure is not fatal: it is the courage to continue that counts.”– Winston Churchill

48. “Our greatest glory is not in never falling, but in rising every time we fall.” – Confucius

49. “Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.” – Archimedes
50. “Who controls the past controls the future. Who controls the present controls the past.” – George Orwell
51. “If you get up in the morning and think the future is going to be better, it is a bright day. Otherwise, it’s not.” – Elon Musk
52. “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward
53. “Start where you are. Use what you have. Do what you can.” – Arthur Ashe
54. “Netflix, Amazon, iTunes – whatever platforms emerge – we are looking at as having the same potential that home video had for the movie business. Which means there are entirely new opportunities to monetize our capital investment in content and do so in ways that work for distributors, for consumers and for creators.” – Bob Iger

55. “When you have no one to answer to, vendetta as investment strategy is as legitimate as anything.” – Carl Icahn

56. “No other investment yields as great a return as the investment in education. An educated workforce is the foundation of every community and the future of every economy.” – Brad Henry
57. “In my view, the biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital. Not only is the mere drop in stock prices not risk, but it is an opportunity. Where else do you look for cheap stocks?” – Li Lu

58. “Modern medical advances have helped millions of people live longer, healthier lives.

59. We owe these improvements to decades of investment in medical research.”– Ike Skelton

60. “Stock market goes up or down, and you can’t adjust your portfolio based on the whims of the market, so you have to have a strategy in a position and stay true to that strategy and not pay attention to noise that could surround any particular investment.” – John Paulson

61. “Your mindset matters. It affects everything – from the business and investment decisions you make, to the way you raise your children, to your stress levels and overall well-being.” – Peter Diamandis
62. “Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.” – Kevin Brady
63. “Bitcoin, in the short or even long term, may turn out be a good investment in the same way that anything that is rare can be considered valuable. Like baseball cards. Or a Picasso.” – Andrew Ross Sorkin
64. “I think you have to learn that there’s a company behind every stock and there’s only one real reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies.” – Peter Lynch
65. “Historically, there has been a bull market in the commodities every 20 or 30 years.” – Jim Rogers
66. “The markets generally are unpredictable, so that one has to have different scenarios. The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.” – George Soros
67. “Stop trying to predict the direction of the stock market, the economy or the elections.” – Warren Buffett
68. “An important key to investing is to remember that stocks are not lottery tickets.” – Peter Lynch
69. “Learn everyday, but especially from the experiences of others. It’s cheaper!” – John Bogle
70. “When purchasing depressed stock in troubled companies, seek out the ones with the superior financial positions and avoid the ones with loads of bank debt.” – Peter Lynch
71. “No stock price is too low for bears or too high for bulls.” – John F. Heerdink, Jr.

72. “Investment is most successful when it is most businesslike.” – Ben Graham

73. “Value stocks are about as exciting as watching grass grow, but have you ever noticed just how much your grass grows in a week?” – Christopher Browne

74. “Even the intelligent investor is likely to need considerable willpower to keep from following the crowd.” – Benjamin Graham
75. “Individual who cannot master their emotions are ill-suited to profit from the investment process.” – Benjamin Graham
76. “I made my first investment at age eleven. I was wasting my life until then.” – Warren Buffet
77. “I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.” — Warren Buffett
78. “There are only three measurements that tell you nearly everything you need to know about your organization’s overall performance: employee engagement, customer satisfaction, and cash flow. It goes without saying that no company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.” – Jack Welch, former CEO of GE
79. “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble” ― Warren Buffett
80. “If you buy things you do not need, soon you will have to sell things you need.” – Warren Buffet
81. “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” — Robert G. Allen
82. “It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.” – Warren Buffett
83. “A market downturn doesn’t bother us. It is an opportunity to increase our ownership of great companies with great management at good prices.” — Warren Buffett
84. “Every once in a while, the market does something so stupid it takes your breath away.” — Jim Cramer
85. “The person who starts simply with the idea of getting rich won’t succeed; you must have a larger ambition.” — John D. Rockefeller
86. “Know what you own, and know why you own it.” – Peter Lynch
87. “Although it’s easy to forget sometimes, a share is not a lottery ticket… it’s part ownership of a business.” – Peter Lynch
88. “Wise spending is part of wise investing. And it’s never too late to start.” – Rhonda Katz

89. “Invest for the long haul. Don’t get too greedy and don’t get too scared.” – Shelby M.C. Davis

90. “Fear incites human action far more urgently than does the impressive weight of historical evidence.”
    -Jeremy Siegel
91. “With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future.” — Carlos Slim Helu
92. “If we like a business, we’re going to buy as much of it as we can and keep it as long as we can. And when we change our mind, we don’t take half measures.” – Warren Buffett

93. “The most contrarian thing of all is not to oppose the crowd but to think for yourself.” — Peter Thiel

94. “Never depend on a single income, make an investment to create a second source.” Warren Buffet

95. “Games are won by players who focus on the playing field –- not by those whose eyes are glued to the scoreboard.”
    ― Warren Buffett
96. “The key to making money in stocks is not to get scared out of them.” – Peter Lynch
97. “Courage taught me no matter how bad a crisis gets … any sound investment will eventually pay off.” — Carlos Slim Helu
98. “Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone
99. “As time goes on, I get more and more convinced that the right method of investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes.” — John Maynard Keynes
100. “Given a 10% chance of a 100 times payoff, you should take that bet every time.” — Jeff Bezos
101. “Money is always eager and ready to work for anyone who is ready to employ it.” ― Idowu Koyenikan
102. “The secret to investing is to figure out the value of something – and then pay a lot less.” – Joel Greenblatt
103. “We don’t have an analytical advantage, we just look in the right place.” – Seth Klarman
104. “Men, it has been well said, think in herds. It will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.” – Charles Mackay
105. “It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” – George Soros
106. “No Price is too low for a bear or too high for a bull.” — Anonymous
107. “Investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future.” Anonymous
108. “Behind every stock is a company. Find out what it’s doing.” — Peter Lynch
109. “Wise spending is part of wise investing. And it’s never too late to start.” –Rhonda Katz
110. “It amazes me how people are often more willing to act based on little or no data than to use data that is a challenge to assemble.” ― Robert Shiller
111. “A bull market is like sex. It feels best just before it ends.” — Barton Biggs
112. “The investor’s chief problem — even his worst enemy — is likely to be himself.” — Benjamin Graham
113. “No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation.” – Robert Rhea
114. “Money is like a sixth sense – and you can’t make use of the other five without it.” – William Somerset Maugham
115. “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” — Albert Einstein
116. “Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results” — Warren Buffett
117. “The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffett
118. “Thousands of experts study overbought indicators, head-and-shoulder patterns, put-call ratios, the Fed’s policy on money supply…and they can’t predict markets with any useful consistency, any more than the gizzard squeezers could tell the Roman emperors when the Huns would attack.” – Peter Lynch
119. “Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone
120. “You cannot save time for your future use however you can invest time for your future.” – John F. Heerdink, Jr. 
121. “Know what you own, and know why you own it.” – Peter Lynch
122. “Liquidity is only there when you don’t need it.” -Old Proverb
123. “If you want to be a millionaire, start with a billion dollars and launch a new airline.” – Richard Branson
124. “Fear incites human action far more urgently than does the impressive weight of historical evidence.” – Jeremy Siegel
125. “In investing, what is comfortable is rarely profitable.” – Robert Arnott
126. “Spend each day trying to be a little wiser than you were when you woke up.” – Charlie Munger
127. “The entrance strategy is actually more important than the exit strategy.” – Edward Lampert
128. “The rivers don’t drink their own water; Trees don’t eat their own fruits. The sun does not shine for itself, And flowers do not spread their fragrance For themselves. Living for others is a rule of nature” – Pope Francis
129. “It is impossible to produce superior performance unless you do something different from the majority.” – John Templeton
130. “An investment in knowledge pays the best interest.” – Benjamin Franklin.
131. “I believe the returns on investment in the poor are just as exciting as successes achieved in the business arena, and they are even more meaningful!” -Bill Gates
132. “Every portfolio benefits from bonds; they provide a cushion when the stock market hits a rough patch. But avoiding stocks completely could mean your investment won’t grow any faster than the rate of inflation.” – Suze Orman
133. “The tax on capital gains directly affects investment decisions, the mobility, and flow of risk capital… the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth in the economy.” – John F. Kennedy
134. “If all the economists were laid end to end, they’d never reach a conclusion. -George Bernard Shaw
135. “There are old traders and there are bold traders, but there are very few old, bold traders.”-Ed Seykota
136. “Let this scenario play out on its own, in its own fashion. As you watch it unfold, you will soon be grateful that you choose the peaceful path. Remember — those who live by the sword, die by the sword.”
137. “As long as you enjoy investing, you’ll be willing to do the homework and stay in the game.” -Jim Cramer
138. “I rarely think the market is right. I believe non-dividend stocks aren’t much more than baseball cards. They are worth what you can convince someone to pay for it.” -Mark Cuban
139. “Michael Marcus taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael taught me about making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money.” -Bruce Kovner
140. “The policy of being too cautious is the greatest risk of all.” -Jawaharlal Nehru
141. “The only true test of whether a stock is “cheap” or “high” is not its current price in relation to some former price, no matter how accustomed we may have become to that former price, but whether the company’s fundamentals are significantly more or less favorable than the current financial-community appraisal of that stock.” -Philip Fisher
142. “I learned to avoid trying to catch up or double up to recoup losses. I also learned that a certain amount of loss will affect your judgment, so you have to put some time between that loss and the next trade.” -Richard Dennis
143. “The four most dangerous words in investing are: ‘this time it’s different.” -Sir John Templeton
144. “Money doesn’t make you happy. I now have $50 million but I was just as happy when I had $48 million.” -Arnold Schwarzenegger