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Market News Posted by John Doherty April 8, 2021

New All-Time Highs In The S&P 500

Federal Building

Even with a pop in weekly unemployment claims and some heavy MOC selling pressure, the S&P 500 futures held on to close out Thursday at new all-time highs. The path of least resistance continues to be higher in equities right now, but bets are being made that it won’t last through the summer.


  1. Robinhood currently has 9.5 million users trading cryptocurrency on its platform, which’s an increase of more than 550% in just over a year.
  2. Weekly jobless claims in the U.S. rose to 744,000 vs 694,000 expected.
  3. Virus cases are hitting new record levels worldwide.

Recap Video

Our Favorite Headlines

Giant VIX Options Trades Bet That Stock-Market Calm Won’t Last

Bloomberg – Elena Popina and Edward Bolingbroke

As calm descends on a U.S. stock market that’s posting one record after the next, it appears that one options trader is making a big bet that the serenity is not going to last.


Oil Traders Are Prepping For A Potential Return Of Iranian Oil To The U.S.

The Phil Flynn Energy Report

The Biden administration is trying to win friends in Iran and influence Ayatollahs, basically begging and pleading Iran to rejoin the 2015 nuclear deal. Not only has Biden offered to call Supreme Leader Ali Khamenei directly, but his administration says it’s ready to lift all sanctions that are inconsistent with the JCPOA nuclear accord. 


David Rosenberg discusses the impact of inflation on the economy

David Rosenberg, founder of Rosenberg Research, agrees with Fed chairman Jerome Powell that we’re not going to see significant inflation in the future. He joins ‘Closing Bell’ to talk about the economic outlook.

Economic Calendar for Friday, April 9

  • PPI – 7:30 AM CT
  • Wholesale Inventories – 9:00 AM CT
  • Baker Hughes Rig Count – 12:00 PM CT

Live Q&A With Topstep Founder Michael Patak

Did you miss Wednesday’s live Q&A with Topstep founder and Chief Visionary Officer Michael Patak? No worries, we have the recording right here for you. Check-in to gain some insight into upcoming Topstep product releases, and listen to MP field questions directly from members of the Topstep community.