We await the next phase of the Federal aid package. Negotiations between the House and Senate are continuing beyond the July 31st date, when supplemental unemployment benefits ended.

In this past quarter we saw a 20% rally in the S&P 500 index. We finished June up 41% off the March 23 low. Q3 starts off -8.6% from the market top of 3393.52, yet -3% YTD at 3100.29 on June 30, 2020.

Something happened last week that hasn’t happened in 29 years, according to Macro Ops. "96 percent of the S&P 500 stocks were above their 50-day moving average.

As the Coronavirus spread creating various degrees of lockdown from state to state, we have come to appreciate our diversity and adaptability as a nation. The U.S. epicenter is in NYC and Northern New Jersey. Our hearts go out to all who are suffering.

U.S. stocks closed out Q1 with their worst performance since the depths of the 2008-2009 financial crisis.

Now that the holidays are wrapped up and your new year is in full swing, we wanted to provide you with a recap of 2019 and a preview of 2020 from our Investment Committee. For those who are receiving an update from Crown for the first time, please know that we are honored by your trust and look forward to helping you achieve your financial goals in 2020 and beyond.