AUTHOR: TOWNE SCHERER.COM/BLOG 5/16/2020: Towne Scherer Private Wealth Management BLOG:
China Tension
US Navy ships and Air Force B-1 bombers have been on missions to send a public message that the US will maintain a presence in the South China Sea region, says CNN 5/15/2020. The US is accusing Beijing of leveraging the coronavirus pandemic to increase its influence in the region. The Navy Pacific Fleet announced that all of its submarines in the area were at sea conducting operations to keep a free Indo-Pacific region. Also, Mike Pompeo, Secretary of State, is publicly attacking China for spreading the virus and not being transparent during the outbreak. In other words, superman has a cold but he is still superman…the markets were choppy on such news.
Large Banks Still Look Solid
The KBW Bank Index Fell by 1.5% on Friday, May 15, 2020, reports CNBC 5/15/2020. Bank analysist, Mike Mayo, believes the industry will face near-term struggles but emphasized that the Big Banks…. are still looking solid.
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The opinions expressed in this material do not necessarily reflect the views of LPL Financial and based on the political content of this material are for general information only and are not intended to provide specific advice or recommendations for any individual. The economic forecasts set forth in this material may not develop as predicted. All indices are unmanaged and may not be invested into directly.
Russell E. Towne, LPL Financial Advisor, is a registered representative with and Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.