Message from Jon
Yesterday it appears was a strong rally in the markets on speculation of additional stimulus and liquidity by the FED.1,3 We are seeing the underlying conditions point to renewed concerns about the stalling of the economic recovery due to Covid-19 and the "second wave" of cases being reported daily all over the country.2
As previously mentioned in newsletters, our thoughts are that, as the month of July ages, so will the positive sentiment, giving way to a growing set of concerns over a relapse of Covid-19 in the US and the possible but not necessarily probable re-quarantining of the US, in our opinion.
Till we speak again, enjoy the pool cause this Midwest heat wave is serious,
Special Update: Quarterly Report
WEEKLY UPDATE - JULY 6, 2020
The Week on Wall Street
In a holiday-shortened week, stock prices turned higher as encouraging economic data outweighed an increase in COVID-19 cases and a rollback in economic re-openings.The Dow Jones Industrial Average rose 3.25%, while the Standard & Poor's 500 increased by 4.02%. The Nasdaq Composite Index gained 4.62% for the week. The MSCI EAFE Index, which tracks developed stock markets overseas, picked up 0.22%.