Happy Easter! With Spring in the air and the budding promise of fresh beginnings coming, we all have much to appreciate and be thankful for. I hope you are able to spend quality time with those you love and care about!
I was fortunate to travel for a quick business trip last week and I can tell you from first-hand experience that our airports are indeed returning to normal. As more and more people are vaccinated, the return to travel will most likely see a surge in demand in the coming months. Even the CDC has now endorsed those with vaccines being at “low risk” for travel. We have been saying for some time that people are ready to move on and I can personally attest to this desire. With fresh new stimulus money pouring into bank accounts and the simple fact that many have been saving over the past year, this summer should be a memorable one. Fair warning however, you better start your vacation planning now as demand will certainly outstrip supply in the coming weeks.
Our financial markets were closed on Friday in honor of the Easter holiday but that did not stop certain economic data from being reported. March saw a sharp increase in the number of jobs added, 916,000 vs. the 675,00 that were expected from economists. The unemployment rate has now dropped to 6%, again, slightly better than expected. We will also begin our next earnings cycle with 1st quarter data coming in a few weeks. Earnings are expected to be strong once again as spending patterns continue to return to normal. These early indicators are pointing to a potentially strong start for April and the 2nd quarter. With a new infrastructure plan on the table, inflation worries growing, and a still red-hot housing market in play, there remains plenty of headlines to keep track of. Rest assured, we will be watching and taking note.
Remember to take some time for yourself this weekend. We’ve come a long way together over the past year, but there is still much more ground to cover. Reflection and positivity are powerful tools as we move forward.
Stay safe!
Your local Towson Financial Advisors
https://www.cnbc.com/2021/04/02/fully-vaccinated-people-can-resume-travel-at-low-risk-cdc-says.html
https://www.cnbc.com/2021/04/02/blowout-jobs-report-could-power-stocks-higher-in-the-week-ahead.html