The shifting winds of Washington continued to dominate the headlines this week. After the failed in-person presidential debate scheduled for last night, the respective candidates took to a town hall style meeting. From what I saw last night, and read today, it was basically more of the same rhetoric. We will be posting our “election” research and potential outcomes via a video recording next week. We will keep you posted once that is available. Our goal is to objectively outline several potential scenarios that could play out in the coming months and into 2021. We think you will find this helpful in thinking about your own personal financial situation.
Earnings season has kicked off in full swing and so far, things have been very good. As expected, the 3rd quarter earnings numbers have been much stronger compared to 2Q. Spending on durable goods is proving to be higher than the pre-Covid levels, while spending on “services” is much lower. These are clear signs that consumers are feeling more comfortable in general and a welcome sign as we continue to recover. There is some concern that earnings are slowing a bit and this may be true until a vaccine is proven and available. Only time will tell on that front.
Don’t forget to mark your calendars for our “drive-thru” shred event on November 7th. We have all had plenty of time at home to sort through old documents and papers. Why not get out of the house on a Fall Saturday morning??!!! Let us know if you plan on stopping by. As always, we are here and committed to helping you sift through the noise that sits before us. Now more than ever is the time to lean on your trusted advisors! Stay safe and healthy!