Stimulated

[The beef 675] "In a time of unprecedented political stability and agreement, there’s no way this deal fails, right?" - Jeff Hey there carnivores, Markets climbed slightly on Thursday, but it was a complicated day. More on that below. Keep raging, Jeff & Jason Checking in Despite everyday feeling [worse than the day before it]( (only me?), we actually got some good news on Thursday. That is, of course, if you don't look at the number of worldwide coronavirus cases. The Bureau of Labor Statistics was up early, releasing the weekly jobs report Thursday AM. It showed that Americans applying for unemployment dropped for the third time in the last four weeks. Even more impressive, the number dropped from last week despite California resuming its unemployment reporting after a short pause. F*cking stoners… Down we go Jobless claims [fell to 787k]( for the week ended October 17th, while continuing claims (read: those folks already receiving state unemployment) fell by 1.02M to 8.37M. Economists expected 870k initial state claims and 9.63M continuing claims... which kinda makes you wonder how they aren't unemployed. But not every number in the report screamed "[and we're back.](" Those on extended unemployment benefits rose (read: the people who’ve run out of standard state bennies). So, markets loved it, right? The report dropped in the morning and… that was it. That’s the end of the story. The markets really didn’t seem to give a sh*t at the time with shares actually falling early in the trading session. That is, until… Common ground. Kind of. Positive economic data might not have tickled investors’ fancies but House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin played just the tip with investors for most of the afternoon. Speaker Pelosi [said]( that her talks with Mnuchin to resolve a core piece of a new coronavirus relief package were "just about there." The two side are still deciding how to allocate money for testing and tracing. There are still a few sticking points that Pelosi and Mnuchin were going to hash out over the phone yesterday afternoon, but as of this writing that call hadn’t happened yet. They’re probably just texting. Ugh. Millennials. A deal even being introduced to Congress is seen as a good first step, but there’s a long road to go. First, the bill would need to pass through the Dem controlled House, before ultimately facing the gauntlet of the Republican controlled senate. And you know how well bills introduced by Democrats do there. The bottom line... Markets seemed unfazed by relatively positive jobless claims news, but everyone knows the only thing they like more than a pre-revenue EV maker that just merged with a SPAC is a potential stimulus deal. On news that a stimulus deal was “getting close” (whatever that actually means) all three indices climbed. The Dow and S&P [closed up]( 0.5% on the day. Bringing up the rear was the Nasdaq at 0.2%. But they all had fun so everybody was a winner. Informed Traders Are Putting On Option Bets That Even The Most Degenerate Gambler Would Pass On [Trading Graph]( Only To Profit In The Most Unthinkable Ways Discover How You Can “Copy” Their Trades And Potentially Profit Alongside Them [Get Started Here]( ☑️TYSM FDA. The FDA (ever heard of ‘em?) [approved its first covid related drug]( for widespread use. Gilead’s antiviral therapy remdesivir (which is Swedish for “hopefully we get to go outside soon”) received approval to be marketed and manufactured for use in hospitals across the US of A. The drug helps ‘rona patients (notably President Trump) recover potentially five days faster, but does not prevent the virus or death. Oh, and side effects include a hard-on lasting more than 4 hours. ☑️We talkin’ crypto? PayPal, already having made news earlier this week when it said it’d open up its network to cryptocurrencies, is in talks (allegedly) to buy BitGo. For those unfamiliar (read: people not living in their mother’s basement), BitGo allows its customers to store their cryptocurrencies in digital and offline wallets. Unfortunately no chain wallets yet. The crypto asset company [was most recently valued]( at $170M, when it raised $58.5M at the height of the cryptocurrency craze. PayPal dropped 4.29% on the news. ☑️Welcome back. McAfee is back on the public market, and let's just say its IPO went about as well as its founder’s 2020 presidential campaign. The cybersecurity company, which went first private in 2017, [dropped 6.5%]( on its first day back on the public markets. Trying to capitalize on the hot IPO market, McAfee filed back in September to raise $100M through its public offering. With an expected range of $19 to $22, it’s first trade of 4.1M shares went for $18.60. ☑️Mind the gap. "[Do you have any bigger clothes or do you only shop at the Baby Gap?](" Gap [rose 14% yesterday](, after it indicated it will switch its business model to primarily be driven by e-commerce and “off-mall” locations. Damn, Gap, how’d you learn that new business model? [Yeezy taught me](. Zuckerberg's go-to store for [hoodies]( will close roughly 30% of its Gap and Banana Republic stores in North America by the end of 2023, with about 75% of those closures to be completed by the end of next year. 30% of the time it works 75% of the time. RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 DISCLAIMER: To more fully understand any Ragingbull.com, LLC ("RagingBull") subscription, website,application or other service ("Services"), please review our full disclaimer located at [(disclaimer. FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. 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