Rally By Notches: Indices Keep Setting Highs On Vaccine Enthusiasm Despite Rising Caseloads

Rally By Notches: Indices Keep Setting Highs On Vaccine Enthusiasm Despite Rising Caseloads

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Key Takeaways:



Vaccine enthusiasm continues pushing market to new highs

Earnings get busier as week continues with mix of tech, consumer firms reporting

“Risk-on” morning as gold, bonds, volatility all move lower to start day



A year ago, who would have thought the market would notch new all-time highs almost daily based on the prospect of something as elementary as vaccinations? But here we are, steadily setting fresh records mainly due to investor enthusiasm that normal times could be around the corner.

That's a very optimistic view, and it's not because there's doubt about vaccines eventually bringing life back. It's just that logistically, the vaccine rollout is one of the biggest challenges in medical history. We've talked about this every day and it might sound like a broken record by now, but you can't discount the chance of some hitches along the way. Any kind of setback in getting people vaccinated certainly has the chance of pushing back against this optimism.



Also, you can't ignore the fact that Covid-19 cases continue to set new highs and some states and cities are shutting down. Some