Transcript
Hello, everyone, welcome to Friday. It was a really good week this week with a little bit of a poor ending, actually the S&P 500 was down almost 1%. I guess the good news today was that it opened up down almost 2% and then kind of rallied up throughout the day, was trying to come all the way back didn’t quite make it. And obviously, the big story today was that the President was diagnosed with the Coronavirus, and that’s why it opened up down and what have you. And so, you know, what is the impact of that, and how does that play out? Well, first of all, you know, if you look at what’s happening to the market, it’s telling us what the impact is. If you go back to February and March, when you look at what was happening when the economic shutdown, and the Coronavirus was coming in, you know, we had days and 3, 5, 7, 12% drops.
And then today the president it gets Coronavirus, and we end up down 1%. And I think they’re you know, some optimism. First of all, the symptoms have been reported to be fairly mild. And I think that’s a that’s a good thing. So we’ve got a scenario where really there’s a whole bunch of other things that if you look at him, you know, if you want to know what the impact is of the president getting into Coronavirus, just look at the other thing.
So this week, we’ve had a great week. Well, most of the news that was coming out was about the possible stimulus package. So that’s certainly a big news item. The Federal Reserve Chairman, Chairman Powell speaks Wow, we get 4% moves all over the place and such. So again, that has a big impact. So having zero interest rates and what their plans are going forward has an impact. And so if you kind of watch and see what’s happening, and so what we’ve seen so far with the President’s diagnosis of the Coronavirus, is pretty mild to the market as a whole.
Actually, today was really interesting in that a lot of the reopening stocks were the ones doing really well, you know, the energy and the bankings and airlines, and those types of things. And again, that has to do with the news that even today was coming out about the negotiations with the stimulus package. And there seems to be more optimism happening. As far as that goes, I don’t know if it’s going to come through or not before the election, I’d be very surprised if we don’t see some type of stimulus package within the next six months. It just gets a little bit tough in this environment.
You know, with all the things that are happening, it’s been you know, 2020 is just a pretty amazing year all together with all the all the different things that have happened yet. Here we are. We had an all time high, you know, back in August, I think we’re working our way back up towards that innovation is doing fantastic. The world has moved into this digital, you know, economy in a really fast manner that I think will really pay off. Health care should be benefited from all this money and research that’s coming in. So there’s some really good positives that are going on. But it’d be fascinating to see what happens on Monday as the story unfolds. And so I will talk to you then let’s see how it goes. Thank you.