Episode 51: Dow hits 30K.

On Monday the markets seem tired even though we received news again, coincidentally on a Monday that AstraZeneca was now approved for the vaccine.  Today the markets responded positively to the beginning of the Biden transition team working with the Trump administration in addition to key appointments. The Dow reached 30k and that brought optimism as we move into the Thanksgiving weekend. Although 100 economists still believe we will need a new stimulus plan before the end of the year.  The next 60 days will be really tough if we don’t get that relief soon. 

Market Close Up

Dow 30 30,045.84 +454.57 (+1.54%)

S&P 500 3,635.41 +57.82 (+1.62%)

Nasdaq 12,036.79 +156.15 (+1.31%)

IPO

As the end of the year is near the IPO index compared to last year is 25% higher and the Renaissance IPO index has given investors an 88 percent higher return compared to the 10% return from S&P 500.

There are several big names getting ready to IPO after the Thanksgiving holiday.  We will be setting up watch parties to share inside information on how these IPOs get structured right before they are available to hit the public markets. 

We have an interview coming with Romina Ederle of Udemy. Udemy, is an online learning company that specializes in massive online open courses, better known as MOOCs, raised $50 million this week at a pre-money valuation of $3.25 billion, with Chinese tech giant Tencent among the investors, Bloomberg reported. Duolingo is a very different kind of edtech company, offering an app that helps users learn new languages. But it also raised new unicorn funding this week, hauling in $35 million at a valuation of $2.4 billion.

Have a relaxing week and Happy Thanksgiving.