Why Stimulus 3.0 + Impeachment 2.0 adds up to very little for investors

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Good morning, Bull Sheeters. Stocks and futures are little changed on Thursday despite reports the incoming Biden administration is planning a fresh round of stimulus spending, this one carrying a $2 trillion price tag. Robinhood traders, you’re in luck. The proposal reportedly includes $2,000 stimulus checks, which would buy you a decent fractional share of Bitcoin.

The other big news out of Washington—Impeachment 2.0—did little to ruffle markets yesterday. Yes, the Dow fell in the last half-hour of trade, coinciding with the historic “insurrection” vote, but the real test comes in the Senate—whenever that may be.

Let’s see what’s moving markets.

Markets update

Asia

  • The major Asia indexes are mixed in afternoon trading, with Japan’s Nikkei up 0.8%.
  • China reported its first
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BlackRock results beat expectations as assets grow to $8.68 trillion By Reuters

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© Reuters. A sign for BlackRock Inc hangs above their building in New York

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By Saqib Iqbal Ahmed and Ambar Warrick

(Reuters) – BlackRock Inc (NYSE:)’s, quarterly results topped analysts’ expectations on Thursday, buoyed by a rising stock market that boosted the firm’s assets under management to a record high $8.68 trillion, further widening its lead against peers.

The firm drew $127 billion of total net inflows in the fourth quarter as investors poured money into its various business, including its exchange-traded funds, as well as active funds that aim to beat the market.

“We begin 2021 well-positioned and intend to keep investing in our business to drive long-term growth and to lead the evolution of the asset management industry,” BlackRock’s chief executive, Larry Fink, said in a statement.

Financial markets rallied in the fourth quarter, building on sharp gains of the prior two quarters, as accommodative global

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