Monthly Market Update - August 2020August 04, 2020
How might lingering concerns about jobs, COVID-19 vaccine(s) and the upcoming November election impact the stock market? KLR Wealth Management has the insights.
Last month, we saw a solidly positive month for stocks, but August might tell a different story. How might lingering concerns about jobs, COVID-19 vaccine(s) and the upcoming November election impact the stock market? KLR Wealth Management has the insights.
August in a Nutshell:
- A Weak Month-End for the Banks – the complete return to a fully functioning economy requires a fully engaged banking industry and this is extremely difficult to envision right now.
- Economic Recovery Still on the Horizon? Maybe Not. A late-July Morgan Stanley report showed that only 37% of consumers believe the economy is getting better.
- Impact on the Job Market – First-time unemployment claims have been above expectation for the past two weeks.
- Hopes for a COVID-19 Vaccine – There are seemingly no lack of optimistic pronouncements on a daily basis, either from the drug companies themselves or from anxious incumbent politicians.
- Upcoming November Election – One of the investor concerns about stocks is the potential for a Democratic sweep, with the high probability that many of those personal and corporate tax cuts recently enacted will be reversed.
- A Complacent Stock Market? Complacent markets are dangerous, though perhaps not immediately.
For more details and information, please read KLR Wealth’s Monthly Update, “Monthly Market Update- August 2020”.
KLR Wealth Management, LLC provides investment advisory services, financial planning, insurance, estate planning, retirement planning and other wealth management services. For more information, please visit www.KLRWealth.com. KLR Wealth Management is a sister company of KLR.