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Market News Posted by Team Topstep March 8, 2021

Covid Relief Bill Vote Scheduled for Tuesday

The U.S. Senate has punted the $1.9 trillion Covid relief bill back to the House of Representatives to vote on a few recent changes. The bill is expected to pass and land on President Biden’s dest later this week, and pundits are saying another round of stimulus checks should be expected in the next few weeks.


  1. U.S. House is scheduled to vote Tuesday and approve changes made by the Senate to the $1.9 trillion Covid relief bill.
  2. Inflation fears are still in play as the 10-year note yield rose close to 1.6%
  3. The CDC says that vaccinated Americans can gather with those at low-risk of Covid-19 without masks, but should still mask in public – AP

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Rates Resume Their Rise After Senate Passes Biden’s $1.9 Trillion Spending Package

Blue Line Futures

A sharp reversal from deep in the negative Friday carried into last night’s open, but the exuberance quickly dissipated. Tech’s leading the way lower once again as rates resume their rise on the heels of the Senate passing President Biden’s lauded $1.9 trillion spending package. 


Thwarted Attack On Saudi Oil Facilities Gives Oil Markets ‘An Incredible Ride’

The Phil Flynn Energy Report 

An attempted drone strike on Saudi Arabia’s Ras Tanura export terminal was thwarted when Saudi Arabian forces shot down the drone, but it was enough to give the oil markets an incredible ride. There was no damage or loss of life from the attack and the oil market calmed, yet the underlying bullish factors still exist. Sometimes when we have an event like the failed strike on the Saudi facility, it has the potential to add to speculative volatility.


5 Ways To Keep Your Winners From Becoming One Hit Wonders


“You know how you look back to ten or twenty years ago, or even longer, and there was a popular song at the time? Reflecting backward years later, you ask, whatever happened to that group? At the moment, the song was at the top of the charts; however, the singer or group could never convert that into long-term success…”

Economic Calendar for Tuesday march 9

  • NFIB Small Business Optimism Index – 5:00 AM CT
  • Redbook – 7:55 AM CT

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