April 13, 2021

April 13, 2021

The market shrugged off this mornings news that the FDA is going to pause the Johnson and Johnson COVID vaccine to look into 6 cases of reported blood clots. J&J is a minor player in the vaccine effort and the blood clots have been found in less than 1 person per million vaccinated but the news still weighed on the 30 stock Dow. J&J stock was modestly lower on the day.

At the close: the 8^th all-time high in 9 days for the widely followed S&P 500

• Dow -68 to 33677
• S&P 500 +13 to 4141
• NASDAQ +146 to 13996
• Oil +.70 to 60.40
• Gold +13 to 1745

In corporate news shares of Bitcoin hit a new all-time high today ahead of the public debut of the world largest cryptocurrency exchange Coinbase that will take place tomorrow morning on the NASDAQ and should be one of the hottest IPOs this year. FedEx is up 140% in the last 12 months and edged higher today after KeyBanc raised the stock to a buy rating. Bank stocks were weaker ahead of earnings.