Traders may take days off, but the market never does. That’s why we’re starting your week off with the top stories from the past weekend and what to expect during the days ahead.
Another Bad Weekend for Crypto
As for weekend news, Bitcoin took yet another beating as the cryptocurrency headliner continues to suffer this week’s long, downward dive, falling to the $31,000 level as of Sunday night.
That begin said, the industry is still up a substantial amount when comparing recent earnings with those reported over the last few years.
This is a drastic change from only a few weeks ago when the cryptocurrency markets were breaking the bank with their earnings. Even laughed at cryptos like Dogecoin couldn’t help but reap the profits. Now, it seems there may be no end in sight for how far the sector could fall.
The Days Ahead…
As for the week ahead, traders are yet again provided a long list of corporate earnings from a variety of industries and companies. This week, expect to see earnings from such well-known companies as: Nordstrom, Cracker Barrel, Best Buy, Dicks Sporting, and many other suburban favorites!
This also promises to be a big week for big names like Amazon and Facebook as the two companies are expected to take steps towards pre-pandemic normalcy with the reopening of Facebook’s Sunnyvale, California headquarters (at a 10% capacity) and the lifting of mask restrictions at Amazon warehouse centers (providing state guidelines approval.) Just one more step towards the return to our pre-pandemic lives.
As for the House of Mouse, this week promises to be an exciting week. The Disney cruise division is set to release the newest member of their fleet, the Disney Wish… A 144,000 gross ton, 1,250 stateroom cruise ship that is set to sail during the summer of 2022.
This is yet another step towards our pre-pandemic lives as the cruise industry was heavily hit during the 2020 pandemic season as almost all sailings were cancelled, and officials continued to warn of the dangers of such travel. All of this most likely caused by the reporting of several outbreaks on cruise liners during the early stages of the pandemic spread.
For Disney to the expected release of a new ship with a proposed sail date of mid 2022 is only more proof that corporate America’s just as hopeful about the coming of the pandemic’s end as the rest of the American citizens are.
Biden to Visit Cleveland
Finally, out of Washington, President Biden is expected to make a stop in Cleveland, Ohio this Thursday to deliver remarks on the health of the U.S. economy.
Biden is expected to release, not only new data on jobless claims, pending home sales, corporate profits, and more, but he’s also releasing the first detailed budget of his presidency which is expected to outline his administration’s spending priorities. This will include everything from foreign aid spending, immigration and defense spending.
Learn More Here…
As you can see, the upcoming week promises to be full of excitement. That’s why we invite you to join DTI founder and head trader Tom Busby below as he reviews further details of the week ahead and his plans for our profitably moving forward.
P.S. – Don’t forget to check out the latest investment offerings from market pros Tom Busby and Roger Scott where they’re pulling back the curtain on secret Wall Street dates!
All during THIS SPECIAL PRESENTATION!