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 Today's Market: New High Score  S&P 500 Index (aka The Market):  4,170.42 ⬆️+1.1%  

Markets soared to new records today as investors celebrated an abundance of positive economic data. Fewer people are getting laid off, consumers are spending more, & companies are profiting more than initially expected.

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Reminder...

"Loan loss reserves" are pools of cash that banks stash away as a safety net when they're anticipating an increase in people and companies defaulting on their loans. When banks release reserves, it means they're more optimistic about the economy. At first, they're counted against the bank's profit as an expense, but when they're released, they're counted as extra profit.

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