Message from Jon
Well folks-having fallen 35.41% from Feb 19th to March 23rd is faster than anyone could have imagined, followed by a rapid 3-day recovery of 20.31%.1 Talk about whiplash!
At this point, the markets do not appear to be behaving in a rational way given the recent information outpouring of Low Oil, the largest spike of unemployment reporting in history, and still yet, the complete and accurate reporting of coronavirus and lay-offs is still yet to come.2 I am still of the opinion that we will likely have a flat or negative GDP on our next report. We will likely see even higher numbers of unemployment data and even lower numbers of economic outputs as well.
We will likely see 250K infected by next week and then over a million in the week to 10 days following that, with a rising death count attributed to the virus fresh on its heels, in my opinion. When we see the manufacturing, oil, industrial and consumer hospitality sectors all report large numbers of lay-offs and furloughs, how can the market remain positive?
The million-dollar question should be, in our opinion, how deep and for how long before we get the all clear sign to return to work and our normal lives?
We of course have shifted accounts to remain in alignment to the markets already and will continue to take care of clients according to their needs, wants, and wishes.
Tyler and I will be hosting a 30 min. webinar on Saturday Morning, the 11th of April at 10am EST. Seats for this virtual meeting will of course be limited to allowing for a certain number of meeting attendees, so I would suggest the first come first serve.
The webinar will be an introduction and about 20 min of Q&A to listen in on covering the economy, the recent downturn, recessions, oil and our thoughts on the next 30-60-90 days. If you are planning on attending and would like to offer any questions, be sure to send them to me via e-mail and I will try to get them included in our Q&A.
Till we speak again-stay healthy,
Congress Approves Stimulus
WEEKLY UPDATE - MARCH 30, 2020
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