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Consumers Massively Cutting Spending

Posted on July 9th, 2020

Consumers Massively Cutting Spending
Recovery to the economy has become hinged on the ability of the American consumer to regain confidence and start spending again. Consumer spending on goods and services represents roughly 70% of the United States’ Gross Domestic Product (GDP). The Commerce Department, which tracks what consumers spend money on and how much they spend each month, […]

Car Sales Crater Amidst Pandemic

Posted on July 6th, 2020

Car Sales Crater Amidst Pandemic
A dramatic drop in car sales, brought about by the historical rise in unemployment along with the economy seizing, collapsed the demand for both new and used autos coast to coast. Federal Reserve data, compiled by the Federal Reserve Bank of St. Louis, reported an average of around 17 million new vehicle sales each month […]

States Losing Tax Revenue

Posted on July 1st, 2020

States Losing Tax Revenue
States and local government entities are struggling with a dramatic and rapid drop in tax revenues following business closures and quarantines that were set into place nearly three months ago. Stay at home mandates forced consumers to abandon retail shopping, dining out, and visiting hair salons leading numerous small businesses to close doors and lay […]

Some Stimulus Payments Sent As Debit Cards

Posted on June 29th, 2020

Some Stimulus Payments Sent As Debit Cards
The IRS reported that roughly 4 million Americans would receive their stimulus payments as a debit card rather than a check or direct deposit. The CARES Act appropriated $2.2 trillion for Americans in order to bolster economic activity and provide stimulus to combat the effects of the pandemic. So for those who have not received […]

Income Data Skewed by Stimulus

Posted on June 25th, 2020

Income Data Skewed by Stimulus
Data released by the Commerce Department showed that consumer spending collapsed by a record 13.6% in April, the steepest drop since 1959. Stay home orders and store closures kept consumers from spending in addition to the sudden loss of jobs nationwide. What consumers spend in the economy represents over 70% of Gross Domestic Product (GDP), […]

Unemployment Paying More for Some

Posted on June 22nd, 2020

Unemployment Paying More for Some
The National Bureau of Economic Research released findings of a study examining the amount of unemployment benefits recipients are being paid. The study found that roughly 68% of jobless workers are bringing home more than what their job was paying them. The combination of state and federal unemployment benefits have been extremely generous with the […]

Who Is Unemployment Hitting Hardest

Posted on June 19th, 2020

Who Is Unemployment Hitting Hardest
The nation’s unemployment rate skyrocketed to its peak of 14.7% in April, representing the largest percentage of unemployed workers since the great depression, when the rate reached 25% in 1933. The pandemic’s effect on the labor force has been extensive and rapid, resulting in a dramatic increase in the unemployment rate. What has truly made […]

June 2020 State of the Market

Posted on June 17th, 2020

June 2020 State of the Market
June Market Performance Stocks continued their upward trajectory through early June, enjoying a boost from strong economic data and relief over Trump’s timid response to China diminishing Hong Kong autonomy. The rally halted abruptly near the middle of the month as markets gave up their gains in their worst day since March. The trigger for […]

May 2020 Fund Performance Report

Posted on June 15th, 2020

May 2020 Fund Performance Report
May Markets Performance Stocks climbed higher last month, extending the rally that began after the March crash. Stock indices surmounted significant thresholds by the end of the month, with the S&P 500 crossing the 3000 mark and the Nasdaq going into positive territory for the year. Better than feared economic news, easing of lockdown measures […]

Market Strength Continues to Surprise

Posted on June 12th, 2020

Market Strength Continues to Surprise
Stocks Continue to Rally Equity markets continued to move higher in May despite lower earnings expectations and dismal economic data releases. The disparity with economic data and equity markets rebounding are perplexing to some economists and analysts. Congress voted to delist Chinese companies from U.S. stock exchanges if they do not honor required financial disclosures. […]

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