facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause
%POST_TITLE% Thumbnail

Riots and Covid Case Counting Can't Stop Wall Street's Q2 Rebound

Do you ever feel like you’re not getting the whole story.  Like, why such a focus on the number of new cases of Covid19, but nary a word on the number of deaths, or number of recoveries.

I feel the same about financial news.  Unless you’re a business channel junkie you’re probably not getting the whole financial picture either.  I never encourage anyone to monitor the market minute by minute, because as investors, we don’t need to.  

No day, no month, quarter, or even year will have permanent impact on our long term investing goals.  But when there’s some interesting themes and good news to go along, I want you to know.  Because you’re not likely to hear it from mainstream media.

In case your social distancing morphed into isolation, here’s how we got here.  The stock market hit new all-time highs on February 19th before the country’s self induced coma knocked off 34% in 33-days by March 23rd.  Then the stimulus meds kicked in and the next 50-days saw a 40% rebound, the best 50-days for the market, ever.

The second quarter was the best quarter for stocks in more than 20-years.  The S&P 500 was up 20% to 31-hundred, its best quarter since 1998.  Not impressed.  OK, how about the best 2nd quarter, April, May, June, since 1938.

The Dow rising 18% to 25,800 and change, its best quarter since 1987.  And the NASDAQ notches its best since 1999, soaring 31%.

Will it continue.  Who knows.  We’re still down millions of jobs.  Retail sales and manufacturing continue to lag.  And the tracking of new cases as states phase through their reopening could keep things choppy in the near term.

But for now, let’s give kudos where kudos are due.  A solid second quarter is something to celebrate this weekend, along with our independence and freedom.  God Bless America.

☞ Market Date From WSJ 7.1.2020