Timely and Relevant News: The Market Pull Back
The market pullback continues. Stocks closed down Monday as the S&P 500 Index attempted to break its three-week losing streak that has left it more than 7% below its September 2nd high.
Political uncertainty following the death of Justice Ruth Bader Ginsberg’s has also contributed to the volatility on top of existing concerns about the upcoming election, COVID-19, fiscal stimulus or lack thereof, US-China tensions and tech stock valuations.
On Friday, new cases hit a two-week high of more than 47,000 in the United States, lifting the seven-day average 17% higher than the prior week. The United Kingdom may be considering fresh lockdown measures and France also may be headed that way. (Source: Covid Tracking Project)
Recessions and Recoveries
It is well documented that over 50% of Fortune 500 companies were formed during turbulent economic times. Why? It is when change and adaptability is required.
We encourage you to watch this brief video featuring Burt White, Chief Investment Officer for LPL Financial as he explains what a "K-shaped" recovery means and how the ability to adapt may be among the best predictors for future success.
At Covenant Wealth Strategies, we understand that adaptability during challenging times is crucial. We continue to work together to increase our capabilities and availabilities. Our team is committed to learning and becoming better than before.
If you have specific questions or would like to discuss your own investment strategy or financial planning needs, we welcome you to call us at 302.234.5655 or email us at firstname.lastname@example.org to set up time to discuss further.