Who could have known what lie ahead this time last year? 2020 began with high hopes and ended in the same way. Throughout the year, the pandemic, politics, civil unrest and markets all provided surprising twists and turns. Above all, 2020 seems to have accelerated many new social and economic trends.
Every quarter the CWG Investment Committee takes a look back at the calendar year and reviews what has taken place in the economy and markets.
Main Street USA continues to cope with a variety of concerns
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.