S&P 500 KEY POINTS:The S&P 500 has risen more than 20% in 2021 without suffering a single drop of at least 5%Slowing growth, deteriorating market breadth, high valuations and seasonal weakness pose headwinds heading into the fallHowever, the prospect of an increase in corporate taxes may be the most important risk to consider for the equity market in the short term.The S&P 500 has soared since the end of March 2020 and is up more than 20% in 2021 alone. Last week, the index notched its 55th record closing high of the year, after rising for the seventh consecutive month in August. The non-stop rally, which has gone all year without a drop of at least 5%, has been fueled by unprecedented fiscal and monetary support in response to the coronavirus pandemic. Retail investors, who ha

PayPal Holdings ($PayPal(PYPL)$) is the IBD Stock of the Day as the e-commerce firm continues its rebound from a July-quarter earnings sell-off and retakes its 50-day moving average. PayPal stock has forged an early entry point as analysts shrug off former parent eBay's ($eBay(EBAY)$) switch to another payment processor.Looking beyond the eBay issue, some analysts expect upside for PYPL stock from Venmo, PayPal's money-transfer service for family and friends. Also, PayPal plans to release its new "super app" digital wallet in the back half of 2021.And, bullish analysts expect PayPal to gain traction with in-store payments. The e-commerce firm has thrived as an online checkout option for consumers.Still, PayPal

$Affirm Holdings, Inc.(AFRM)$Affirm Holdings stock is soaring even after the company reported earnings that missed analyst forecasts for net income.Affirm reported a fourth-quarter loss of 48 cents a share, missing forecasts for a 29 cent loss, on sales of $261.8M. Revenue beat expectations for $226.39M. The buy-now-pay-later company also said it expects fiscal first-quarter revenue of $240 million to $250 million, above forecasts for $234 million.Affirm says it’s gaining traction in smaller-dollar items, signing up more merchants, and expanding its services. The company reported 29,000 active merchants on its network, up from 5,700 a year earlier.Sales are accelerating in categories like fashion and beauty, along with “reopening” categories like tra