August 2020 Economic Dashboard

The S&P 500 closed August up 7%, pushing the index above its pre-COVID high set in February. Market momentum continued to accelerate from prior strength. Technology stocks and large-cap stocks continued to lead the market, maintaining the 2020 trend. However, in a positive sign for the broader market and economy, some more economically cyclical sectors… Read More »

July 2020 Economic Dashboard

July was a very strong month for nearly all assets, including stocks. The S&P 500 rose 5% as interest rates continued to decline and the US dollar had its weakest month since 2010. Lower rates and a lower dollar should be positives for the economy going forward by stimulating investment and bolstering US exporters. A… Read More »

June 2020 Economic Dashboard

The second quarter of 2020 happily contrasted to the first quarter, which experienced one of the worst declines in stock market history. Record fiscal and monetary stimulus accompanied by improving coronavirus-related news served as powerful tailwinds for the market. The Federal Reserve has stated a willingness to respond aggressively should the economy struggle to recover…. Read More »

May 2020 Economic Dashboard

Since the economic shutdown caused by the coronavirus, the two dominant economic questions have concerned 1) the depth of the economic decline and 2) the duration of the economic recovery. Massive global fiscal and monetary stimulus has helped reduce the depth of the economic decline. Policymakers have been aggressive in the amount of stimulus, as… Read More »

April 2020 Economic Dashboard

April was a historic month for the US economy, as the coronavirus continued to grind parts of the economy to a halt. 20 million Americans filed initial unemployment claims, benchmark oil prices went negative for a short period, and the 1st Quarter GDP report, released April 29th, showed a -4.8% contraction. Despite the flurry of… Read More »