Your Weekly Blip 4/1/21

Your Weekly Blip 4/1/21

Stocks advanced today as yield fell and EV stocks race higher. The Dow closed up 171 points to 33,153 on lighter trading volume. Both IBD and BTS indicators are positive and overall US economic indicators continue to point to an improving situation despite occasional glitches.
Speaking of glitches, Ford Motor announced it was cutting production at seven assembly plants in the US and Canada due to the global chip shortage and is now expecting the semiconductor squeeze to hit its operating profit this year by at least a billion dollars. The plants affected include Ford’s F 150 truck plant in Dearborn and the truck line in Kansas City both of which will be down for two weeks. Ford reports Q1 numbers on April 28th and will have an update at that time. Auto industry officials are predicting that chip shortages will get worse in the second quarter and at this point gurus are not sure if supplies will recover in the third quarter.
The Washington State LTC Trust act is an issue that working people in Washington State should be aware of as it will impose an ongoing payroll tax of.058% to fund a minimal state run long term care benefit. If you have questions about this new tax and would like information on how to opt out of this program we would love to answer your questions and show you the options that are available to you.
On an administration note, we will be switching the Blip to a weekly email starting next week. The Blip will arrive Monday and cover the prior week plus talk about general market conditions and highlight any items of interest like what we are doing with the Washington LTC law or what the lunkhead scouts are doing.