Investors came into the session ready to go after a wonderful weekend of better weather, blossoming flowers, singing birds, increased travel and folks flocking to theme parks and movie theaters.
Then, moments into the session, this headline appeared (below), and the session picked up momentum.
CDC says fully vaccinated Americans can travel safely, but still should wear masks
So, the market was already off to a great start when another data point was released. The ISM Service release added even more fuel to the rally.
At 63.7, the March read was the highest ever, up from 55.3 in February, and zooming past the consensus of 59.0.
According to the ISM, all of this was done against capacity restraints, material shortages, weather issues, logistics and human resources challenges.
All 18 service industries reported growth in March.
ISM Services ISM Services
What’s intriguing about all of this is the market is much higher on very strong economic data. I mentioned this morning that fear had gone away, which includes fear the Fed will not be able to keep its promise of holding rates down a few more years.
|Yes - we had the shot and 2 weeks later flew. I would cruise if they would open it up.|
From Texas- we believe in no fear.
Karol K Deem on 4/5/2021 2:04:22 PM
|In 2020, I cut back traveling but did not stop. I will absolutely travel more in 2021 whether or not I am vaccinated.|
Norman Lee on 4/5/2021 2:14:33 PM
|I juyst booked one for Croatia in August! Had to cancel before.|
Leelee on 4/5/2021 2:16:26 PM
|The destinations need to recognize and remove testing, isolation ect for vaccinated people. That hasn’t happened yet|
Charlie Francisco on 4/5/2021 2:18:30 PM
|Charles, I almost never wear a mask have not been vaccinated I have taken 10 commercial flights. The health building is garbage!|
Michael Antzas on 4/5/2021 2:27:27 PM
|absolutely will travel; already went to Florida for Mets Spring Training|
Barbara A Ronzetti on 4/5/2021 2:44:53 PM
|Yes, we plan fly once we have our vaccines and the world opens up.|
Debby Deering on 4/5/2021 3:18:39 PM
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