Tale of the Tape

Good evening y’all. We made it to Friday. 🍻

The market finished the week with a bang. The major indices all gained more than 1%.

Tech was the strongest sector. Energy was the only sector to close red. Who knows what’s going on with energy? Time will tell. 

The cruise lines cruised. $NCLH +13% | $CCL +9% | $RCL +7%

The sun was hot. Solar ETF, $TAN closed at its highest price since 2011. More on this below.

Peloton gained 10%. Ride on.

Boeing bounced 7% on a new contract with the Air Force.

Here are the closing prints:

S&P 500	3,298	+1.60%
Nasdaq	10,913	+2.26%
Russell 2000	1,474	+1.59%
Dow Jones	27,173	+1.34%

Party On?

The Wall Street Journal shared a piece on this year’s IPOs.

IPO Market Parties Like It’s 1999

The journal said:

Even in the midst of a recession, investors are pouring money into newly public companies at levels on par with the dot-com era.

Renaissance Capital’s IPO ETF, $IPO is up 65% YTD. Incredible.

Here’s the daily chart since January: 

And here’s the ETFs top 10 holdings:

NYC Is Not Dead

The greatest city on Earth just announced its plan to allow year-round outdoor dining. 

This should be a relief as 1,289 restaurants permanently shut down due to the coronavirus pandemic. 

Deputy Mayor for Operations, Laura Anglin said the following:

The Open Restaurants program has changed New York City’s streetscape over these last several months, and now this Administration will work to make that permanent. The program has helped save tens of thousands of jobs and has been an essential lifeline to an industry that has faced enormous hardships during this pandemic. And as we extend outdoor dining into the winter months we will work closely with restaurants to ensure the correct heating systems are put in place to keep customers and themselves safe.

Read more about NYC’s plan here.

Wear a mask and a jacket. Be safe y’all. 🙏

The Sun Was Hot

Alternative energy has been a source of strength in the market this year. Will the sun continue to shine? Who knows, ask siri. 

Solar energy ETF, $TAN closed at its highest price since 2011. It’s up 87% YTD. Here’s the monthly chart:

The wind energy ETF, $FAN is up 15% YTD. Here’s its monthly chart:

Business Insider shared a chart showing solar and wind energy production growth in the US. Maybe this is the shift to renewables? Time will tell.

ht Joe Weisenthal

$22B Big Ones

Palantir Technologies is expected to be valued at ~$22,000,000,000. 

The data-mining-software company plans to go public via direct listing on September 30. 

Who knows how much it’ll be worth once it starts trading.

Here’s the Wall Street Journal with more.

Boeing’s New Contract

Boeing won a $2.2B contract for the Small Diameter Bomb Increment I weapon program. 

The work is expected to be completed in 7 years.

See the official press release here.

$BA bounced 6% on the news. Here’s the daily chart:

Good luck, Freshman

Lori Loughlin is basically going back to college to serve her 2-month jail sentence. The Full House actress will have access to crochet, yoga, and pilates during her time at the Federal Correctional Institute (FCI) in Victorville, Calif. 

In addition to the fitness activities, Mrs. Loughlin’s facility provides cartoon drawing, ceramics, music lessons, and computer literacy courses.

Good luck, freshman.

In case you forgot, Lori was sentenced for her involvement in the College Admissions Scandal.

Links That Don’t Suck

🇺🇸 Justice Ruth Bader Ginsburg Lies in State in Capitol

💲 Crossing Wall Street Market Review: September 25, 2020

😎 Watch Doug Aitken’s Mirrored Mirage Pavilion Change with the seasons

🏖 How Much Money Should You Have Saved For Retirement?

🚨 How an Amazon Bribery Scheme Became a $100 Million Swindle

👟 Would You Pay a Subscription Fee for Recyclable Running Shoes?

🏀 Can Denver Nuggets Actually Come Back from 3-1 Again vs. Los Angeles Lakers?