It was an interesting week in the U.S. and in the financial markets. If you read the headlines and watch TV, it almost feels like the Coronavirus Pandemic is a really bad dream. Clearly, our great country is going through a lot of changes both socially and economically. The civil unrest going on right now will surely impact the rhetoric of the coming election in the Fall. Uncertainties still lie ahead. Yet, through all of this, our financial markets continue to improve and show “real” signs of life. In May, we saw the biggest job increase ever (2.5 million new jobs), indicating that the economy has indeed begun to heal. Wall Street, predicted that May could see an unemployment number above 20%. However, the actual rate declined to 13.3%. This is simply incredible when you think about what we have all endured over the past 3 months. To be honest, it’s a “head scratcher” for me, personally. I try and remind myself, that there is always a purpose behind the headlines and our need for instant gratification. Perhaps we have all become jaded by these headlines and social media posts. It is important to step back and look at the big picture objectively.
As your trusted advisors, our focus has been on understanding the economic impact of the Coronavirus Pandemic over the last few months, lean on what we have learned, and plan for where we are heading. During the past week, the financial markets have certainly turned more positive and bullish on how the rest of 2020 may play out. It has been a welcome relief to see that restaurants, air travel, retail industries, and personal service businesses are starting to reopen. We continue to remain committed to being cautious and taking things slowly at this point. The actions we have been taking are to ensure your personal financial journey remains clear and intact.
We are continuing to host Zoom Meetings, telephone meetings and investment reviews. Reach out to us if you would like to get on our calendar. Please know, we miss our face to face meetings, and feel confident we will see one another again soon. In the meantime, stay safe, and enjoy your Summer. Remember… keep the faith!