Stocks closed lower again yesterday as profit taking and consolidation sets in.

Earnings season continues. And it's been a stellar start. But not every company is going to be rewarded.

For example, Netflix, after the close yesterday, posted both a positive EPS and sales surprise, but disappointed on subscriber growth and got hit by -10% in after-hours trade.

Expectations are high for earnings season, so companies are going to have to deliver on as many key metrics as possible.

We'll get another 87 companies reporting earnings today, a total of 305 for the rest of the week. And another 994 next week.

Talks have been going on behind the scenes regarding the $2.25 trillion infrastructure package. Some smaller, more targeted numbers have been suggested. As well as a smaller increase in corporate taxes to pay for it. No word on what the administration is willing to accept yet.

We are also expecting to hear the White House, later this month, propose another $1 trillion package called the 'family plan' that's aimed at child care and other domestic issues, along with a tax increase on individuals to pay for that one.

I would imagine both of those packages will be fleshed out more before the scheduled State of the Union address on April 28^th.

In the meantime, the economic rebound continues.

There is some concern over an increase in virus cases in other countries, and even some setbacks here in the states.

That's unfortunate. But it's not expected to impact the broader reopening. And as more and more Americans get vaccinated, that will keep the virus at bay as we move toward something closer to normal.

Keep your eye on the big picture: the US is poised for the fastest growth rate in 36 years, near zero intertest rates are here for the foreseeable future, and record pent-up demand is soon to meet a record amount of stimulus money.

That's a recipe for explosive economic growth, and stock market gains.

So make sure you're taking full advantage of it.

See you tomorrow,