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WEEKLY MARKET COMMENTARY

 

Furstenau Wealth Update

September 21, 2020

 

The Markets

 

Investors weren’t happy with central banks last week.

 

After the Federal Open Market Committee (FOMC) meeting, Federal Reserve Chair Jerome Powell confirmed the economy is recovering more quickly than anticipated:

 

“With the reopening of many businesses and factories and fewer people withdrawing from social interactions, household spending looks to have recovered about three-quarters of its earlier decline…The recovery has progressed more quickly than generally expected, and forecasts from FOMC participants for economic growth this year have been revised up since our June Summary of Economic Projections. Even so, overall activity remains well below its level before the pandemic and the path ahead remains highly uncertain…We remain committed to using our full range of tools to support the economy in this challenging time.”

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Furstenau Wealth Update

September 14, 2020

 

The Markets

 

Last week, the Nasdaq Composite Index set another record.

 

So far, 2020 has been memorable for many reasons, not the least of which is the incredible speed at which some events have been occurring in financial markets. This year, we’ve experienced:

 

  • The end of the longest U.S. stock bull market in history

  • A global stock market crash

  • The shortest U.S. stock bear market in history

  • Multiple record highs for major U.S. stock indices

 

Last week, we witnessed the swiftest correction on record as the Nasdaq fell by 10 percent in just three days. By the end of the week, the Index had recouped some losses and finished down 4.1 percent. The Standard & Poor’s 500 Index and Dow Jones Industrial Average also finished the week lower.

 

It would be gratifying if the recent drop in share price steadied U.S. stock markets. However, we are likely to see stocks remain volatile through the end of 2020. The Economist explained:

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Furstenau Wealth Update

September 8, 2020

 

The Markets

 

Stock markets in the United States retreated a bit last week.

 

U.S. stocks have been trending higher for months. Last week, they gave back some gains. The Nasdaq Composite dropped 3.3 percent, while the S&P 500 Index fell 2.3 percent, and the Dow lost 1.8 percent, reported Ben Levisohn of Barron’s.

 

It was difficult to pinpoint a specific reason for the market’s retreat. Levisohn offered a litany of possibilities that included:

 

  • The Labor Day holiday

  • Corporate earnings guidance suggesting companies are pulling back on tech spending

  • Dr. Anthony Fauci tempering expectations a vaccine will be available by November 1

  • Fears a disputed election could disrupt stock markets

  • Congress’s lack of progress on a new stimulus bill

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Furstenau Wealth Update

September 2, 2020

 

The Markets

 

The stock market rallies like it’s 1986.

 

August has been a good month for stock investors. At the end of last week, the S&P 500 Index was up 6.8 percent for the month. The Index is poised to deliver its best returns for the month since 1986, when it gained 7.1 percent, reported Financial Times.

 

The performance of U.S. stock markets is remarkable, in part, because, so far, company earnings – the profit that publicly-traded companies earn and report each quarter – haven’t been great in 2020. Earnings were down 31.9 percent during the second quarter of the year, reported FactSet. The decline in earnings reflected the impact of coronavirus closures.

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ARTICLES

 

September 16, 2020

The S&P 500 Is Trading Near an All-Time High. It’s the Fastest Recovery Ever.

September 09, 2020

The quickly unfolding coronavirus outbreak is an extreme case, but any sort of hard times will test our personal finances. Many people are now facing reduced work hours and income while watching with worry as stock market upheaval continues.

Preparation is better than panic, however. And starting now is better than doing nothing.

August 19, 2020

Social Security may look drastically different in the next few decades, especially since the Social Security Administration's 2019 Trustees Report estimates the funds will be depleted in 2035 based on the current way it operates.

 

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August 12, 2020

You may wonder what a financial advisor does with your money and how this professional decides on the best investments and course of action for you. This article breaks down exactly what a financial advisor does. 

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