AUTHOR: TOWNE SCHERER.COM/BLOG 7/2/2020: Towne Scherer Private Wealth Management BLOG:
Best Quarterly Performance in Decades
Wall Street finishes this quarter withthe best quarterly performance in decades with both the DOW and S&P 500 achieving more that 16% for the quarter, says CNBC 6/30/2020. However, it was the Nasdaq Composite that really exploded up with a 29.7% move for the quarter. The reasons given for the exceptional performance were:
-Hopes of a vaccine for the Covid 19
-Stimulus
-Positive trends in the virus
-Economic reopening’s
Future Recovery
Further, on 6/30/2020, Powell, chairman of the Fed, made remarks crediting a future recovery of the economy on policy actions that provide relief and support….as long as needed.
‘So…. we’re going to have to depend on those guy’s in office……
should make for an interesting ride…’
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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.