Your Monday Blip 8/10/20

Your Monday Blip 8/10/20

It’s becoming a pretty consistent theme to see stocks trade in a mixed fashion between the COVID haves and have nots. Today, however, it was the mostly beaten down stocks, like energy and industrials, thriving while the tech stocks took their lumps. Investors are definitely factoring in economic recovery, as the S&P is now only about 1% away from its record high, which means that they are expecting business production to reach somewhat similar levels to the pre-COVID time. The Dow closed the day up 357 points to finish at 27,791. Gold and silver also continue to make nice gains.
Commercial real estate has been feeling the pressure as people working from home has added to the already existing problem of people shopping online instead of in brick and mortar stores. One of the biggest commercial realtors, Simon Property Group, has started to think differently about how to use their vacant mall space, now that they’ve had some anchor tenants like Sears and JC Penny go toes up. They’ve recently approached Amazon to see if they would be willing to move some of their fulfillment centers to into the mall, which would bring Amazon closer to residential areas and could improve their delivery speed and cost.
It’s getting hard to identify which Elon Musk company is most successful, the one that makes cars or the one that makes rockets. This weekend, it was SpaceX as they secured a multibillion-dollar contract with the U.S. gubment, to be one of the two primary providers to launch their satellites into space. The other provider will be United Launch Alliance, which is a joint venture between Boeing and Lockheed Martin.

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