Message from Jon
Well, it is about time for a correction, in our opinion. We have seen the markets rip back from their March lows on the tails of the FED stimulus.1 We are now seeing the challenge facing us regarding the schools opening back up these next few weeks, our "leaders" in DC playing politics with aid that many are still relying on to keep sustained, and the inching closer of the election rhetoric.
These next couple of weeks, we will be rebalancing portfolios and examining the path we will be taking these next 90 days. It would not at all surprise us here if we see a correction unfold over the next couple of weeks. We sure could use one to let off the steam in the markets a bit.
Till we speak again, enjoy the weather and stay safe!
Earnings Season Winds Down
WEEKLY UPDATE - AUGUST 10, 2020
The Week on Wall Street
Overlooking stalled efforts by Congress to pass a new fiscal stimulus bill, stocks marched higher last week with the Dow Jones Industrials leading the way and the NASDAQ Composite setting multiple fresh record highs.The Dow Jones Industrial Average gained 3.80%, while the Standard & Poor's 500 rose by 2.45%. The Nasdaq Composite index climbed 2.47% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, advanced 2.31%.