Unexpectedly Intriguing!
07 December 2020

The S&P 500 (Index: SPX) closed out the first week of December 2020 at a new high, its third of the week, just under the 3,700 threshold.

Through most of the week, the anticipated coronavirus vaccine-enabled recovery boosted expectations for future dividends. On Friday however, the market's momentum was marginally aided by the prospect of a long-delayed relief bill for Americans economically harmed by the pandemic finally moving forward, as U.S. House of Representatives Speaker Nancy Pelosi acknowledged her role in blocking any relief bill for months and indicated she was now receptive to a more sensible spending bill than the version she had previously been pushing without any consideration of compromise.

In the latest update to the alternative futures chart, we find investors are still focused on the distant future quarter of 2021-Q3 in setting current day stock prices.

Alternative Futures - S&P 500 - 2020Q4 - Standard Model (m=+1.5 from 22 September 2020) - Snapshot on 4 Dec 2020

That's a much easier observation to make this week, because the short term echo of past volatility that's disrupted the dividend futures-based model's projections of the future for S&P 500 stock prices has come to an end.

Meanwhile, the week that was saw a light load for market-moving news. Here are the more notable headlines we pulled from the week's newstream.

Monday, 30 November 2020
Tuesday, 1 December 2020
Wednesday, 2 December 2020
Thursday, 3 December 2020
Friday, 4 December 2020

Over at The Big Picture, Barry Ritholtz wraps up the week that was by listing the positives and negatives he found in the week's economics and markets news.

Finally, this article is part of our ongoing S&P 500 chaos series, which had its origins almost exactly 12 years ago here.

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