Things continue to improve
The pandemic shut down our economy earlier this year. Now America is slowly reopening. Here are some charts and data showing that things continue to improve.
From Liz Ann Sonders of Charles Scwaab…
— Liz Ann Sonders (@LizAnnSonders) June 17, 2020
June @NAHBhome homebuilders’ confidence surged 21 points (greatest m/m gain in history) to 58 vs. 45 est. & 37 in prior month … as per chief economist Robert Dietz, increased demand in suburbs, but elevated unemployment & potential for virus outbreaks are risks to market pic.twitter.com/VcBlCPtzmM
— Liz Ann Sonders (@LizAnnSonders) June 16, 2020
From economist, Scott Grannis….
Service Sector ActivityScott Grannis writes an outstanding blog, he uses a very data driven approach. Check it out here.
From Economist Brian Wesbury of First Trust Portfolios…
Retail sales and food services
Industrial Production and Manufacturing Output
Mr. Wesbury also believes the recession is over. Read more here.
And although this tweet is a little older, I still thought this was very interesting.
another “V” https://t.co/LUdf0iRAPt— Thomas Lee (@fundstrat) June 16, 2020
2/ Since 1920, 10 declines >30% (this one -35%).— Thomas Lee (@fundstrat) March 26, 2020
– the time required to regain half losses = 0.5 the time of decline
– Current 35% in 6 weeks, so retrace to S&P 500 2,800 could be 3 weeks.
Prior 10 were 'normal' markets. This one is broken but seems to be following pattern. pic.twitter.com/wydd7f0DCk
There are still risks...
There are still risks ahead. The pandemic isn’t over, and the risk of a second wave of infections remains a threat. But every now and then, it is important to look past the bad news that dominates the media. While we aren’t back to normal, things continue to improve.
About the Author
Neal Watson is a Certified Financial Planner™ Professional and a Financial Advisor with Fleming Watson Financial Advisors. He specializes in helping hard working, middle class families plan for retirement.