The Slow Switch to the New Economy

The market seems to find the switch a bit puzzling, as much of the action over the past 10 years has focused around consumerism, stuff like buying new running shoes or new phones every year. Getting real and taking on the new growth areas will be a head scratcher for many. As mentioned yesterday US manufacturing has seen growth since before the pandemic.

Take it on...

At this moment 9:05 AM CDT

Watching MSNBC now, CNBC seems to be off target today. Morning Joe is interviewing Steve Case’s about his new book, “The Rise of the Rest”. Am ordering it, would appear to be about what I call the New Economy.

Glossary of terms for our on-going sector market assessment. Note all the indexes are arithmetic averages, i.e. not valuation weighted. Yesterday we posted the makeup of our New Economy (Climate Change) sectors.

COMP: DJI, SPX, NDQ, TLT, EIF, HYG, XAUUSD, VNQ, TREEFFCRB, BTCUSD

SPX+: SPX, NDQ, RUT, DJI

FANG: META, AMZN, NFLX, GOOG, AAPL

WB FG: (wanna-be fang, list built on CNBC Halftime touts 2020-2021) SHOP, SPLK, DOCU, ZM, BYND, TTD, OKTA, ROKU, SQ, CRWD

RETAIL: WMT, COST, HD, TGT, LOW, BBY, TSCO, AXP

INFR: (INFRASTRUCTURE) CLF, CAT, XLE, FCX

T&E: AAL, DAL, UAL, LUV, RCL, NCLH, CCL

AG: BAYRY, DE, ADM

ARK+: ARKK, ARKG, ARKW, ARKQ

MEME: AMC, GME, NOK, BBBY, KOSS, TLRY, MVIS, PETS, WEN

BTC: BTCUSD, ETHEREUM,XBT

BANKS: GS, JPM, WFC, MS, BAC