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What can I say?
The only thing that is truly certain in this tumultuous year is that it is sure to be one that will be remembered. Years from now, almost anyone you ask will instantly recall what they were doing in 2020, and hopefully “having to wear a mask” and “being forced to stay at home” will be the only inconveniences they’ll have to report.
The 2nd Quarter
Looking back, the second quarter was a gloomy time for most of us, and the markets reflected that, with most investors losing nearly all they gained in 2019. The economy had all but shut down and unemployment rates were climbing. Then, because we social distanced and stayed home, Covid-19 seemed to fade from our every waking moment. With the backing of the government funded CARES Act, American businesses began to reopen, and the S&P 500 responded by completely erasing its almost 20%- first quarter loss, posting a 20%+ return.
So here we are well into Quarter 3. We are facing a ramp up in pandemic problems once again, in addition to economic and social issues, all of which have given the market pause. The upcoming presidential election is another factor that may impact the mood of the markets.
All that being said, talk of another government economic stimulus is in the air and stocks are nudging up once again. Home sales are booming here and the countries that were first hit hard by the virus “seem to be” making positive strides in growing their down-turned economies. So, although it is difficult to know what the remainder of the year will look like, the outlook for this 3rd quarter is somewhat positive and the recommendation is for investors to go back to Normal investing patterns, even though many claim that the market valuations are not sustainable. Time will tell.
Need a mask?
It is being reported that wearing a mask in public may help prevent the spread of the Coronavirus. In the past couple months, before the governor mandated the use of face masks, Lori and Sarah have been sewing cloth masks and mailing them out to whomever we know may need them.
If you, or someone you know, would like a reusable cloth mask, we would be happy to make you one and mail it to you. Simply give us a call at (952) 882-0400 or email us at Office@401kLatte.com.
Stay well and stay safe everyone! We will get past the pandemic.