Dear investors,
Welcome back to the Market Overview, where we provide technical analysis about the stock market and cryptocurrencies. On top of that, we deliver crucial market information that can influence financial markets to be always a step ahead of major market movements.
With the S&P 500 and Nasdaq trading on new all-time highs (again). What would be the best choice to make: buy or sell? In this Newsletter we are providing the latest market data and technical analysis to see which is the best choice to make.
Topics we will discuss:
Bipartisan infrastructure bill
Technical Analysis of main indexes and Bitcoin
Conclusion
Bipartisan infrastructure bill
On Friday Nov 5, the infrastructure bill passed through The House and is directed towards President Joe Biden for his signature.
The bipartisan infrastructure bill contains more than $1.2 trillion which includes the following subjects:
$50 billion for clean water
$110 billion for roads, bridges and other major projects
$11 billion for traffic safety programs
$39 billion for public transit
$65 billion for internet upgrades
$66 billion for railways
$7.5 billion for electric vehicle infrastructure
$17 billion for port infrastructure and waterways
$25 billion for airports
$21 billion for environmental remediation
$73 billion for electric infrastructure
As you can tell this infrastructure bill is gigantic and will have meaningful impact on the U.S. economy. However this is just the first bill that has been approved, the next expected passing bill is the larger $1.75 trillion social safety net and climate package.
The bills together make up the core of Biden’s domestic agenda. The main reasons are to boost the economy, increase the job market, provide a layer of insurance to working families and restrain climate change.
While this seems great for the U.S. We even have to add up the $1.9 trillion coronavirus relief package that was approved this spring. This mega spending spree will be increasing the circulation in dollars, putting even more weight on inflation.
While they are reassuring that the bills are going to be paid for by increasing taxes to high income individuals and companies. We believe that most of the currency will be printed first to finance it, directly adding it to the U.S. debt.
Technical Analysis
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