The Northern Star Newsletter 5/13/20 - Jobs Down, Stocks Up
Message from Jon
Market Update Webinar
We are hosting an update webinar Tomorrow at 12pm for those who would like to learn more about our thoughts on what we know, where we are, and what we think about the next 1-3 months. Click the link to register:
Earnings season is coming to a close with numerous companies on the S&P 500 reporting difficulty with the effects of the coronavirus on their business models. Nothing of a surprise here except that with every company reporting, it becomes more and more evident to us that we are facing a slower than expected recovery, unless a vaccine is developed, and then, all bets are off.
When and from whom a vaccine comes is anybody's guess right now, but we seem to be making great headway based on the various news reports we are seeing.1
We are still choosing to remain cautious and optimistic at this point. We are keeping our approach until the facts change.
The indicators we follow are saying that cash & bonds are the favored asset classes at present, which also confirms our approach at this time.
We stay the course until we see reasons to change.
Till we speak again, enjoy your week and attend our webinar tomorrow if you can,
Jobs Down, Stocks Up
WEEKLY UPDATE - MAY 11, 2020
The Week on Wall Street
Despite a historic downturn in employment, stocks managed to climb higher last week as investors were emboldened by the pace of economic re-openings, both here and abroad.The Dow Jones Industrial Average gained 2.56%, while the Standard & Poor's 500 advanced 3.50%. The Nasdaq Composite Index jumped 6.00% for the week. The MSCI EAFE Index, which tracks developed overseas stock markets, slipped 1.09%.