newsy

· German factory activity grew at the fastest pace in recorded history in March. (IHS Markit)

· U.S. private payrolls in March expanded at the fastest pace since September. Companies added 517,000 workers for the month versus 176,000 in February. (ADP)

· The Paycheck Protection Program (PPP), which has provided over $300 billion in forgivable loans to cover wages, utilities and rent, has been extended through the end of June. (U.S. Small Business Administration)

· Covid-19 was the third-leading cause of death in the U.S. last year. (CDC)

· Scientists have found that the T-cells of previously infected and/or vaccinated patients are effective against new COVID-19 variants. (Johns Hopkins)

· 55% of people in the UK now have antibodies against coronavirus, either through infection or vaccination. (Office for National Statistics/ONS)

· Combining the flagship streaming services of the top four media-tech providers adds up to $92 per month in the U.S. versus $93.50 for a typical cable-TV subscription. (S&P Global Market Intelligence)

· Delivery orders at U.S. restaurants were 154% higher in January 2021 than they were a year earlier; delivery comprised 12% of sales, versus just 5% in 2020. (The NPD Group/CREST)

· A chicken-fingers-and-fries combo was the top food item ordered for delivery in 2020. (DoorDash)

· Delta Airlines (DAL) will no longer block the middle seat beginning May 1st. (the company)

· Dog-walking app Rover saw its bookings fall by nearly half last year, to $48 million. (Rover)

“bubbliciousness” aka markets

As of early this morning, the DJIA trades at a 43% premium to its quantitative value (QV); the S&P 500 at a 40% premium; the NASDAQ Composite at a 28% premium; and the Russell 2000* +100%(!) Our estimated bear-to-bull-market trading ranges are:

DJIA: 15303 (low) to 34261 (high)

S&P 500: 1892 (low) to 4236 (high)

NASDAQ Comp: 7020 (low) to 15717 (high)

Russell 2000: 750 (low) to 1680 (high)

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