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Spiking Covid Cases Slow Job Growth - Dec 7, 2020

The economy added 245,000 jobs in November but slowed from October (Figure 1), as rising Covid cases hampered economic activity amid increased restrictions on businesses. The unemployment rate fell from 6.9% in October to 6.7% last month. 

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Cruising at 30,000 Feet - Dec 1, 2020

Two days before Thanksgiving, the Dow Jones Industrial Average1 closed at 30,046, the first time the Dow has ever finished the day above the 30k mark (St. Louis Federal Reserve DJIA data).

Let’s review some milestones.

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New Highs - November 18, 2020

The Dow Jones Industrial Average1 eclipsed its February 12 high on Monday, which is the last of the major averages to break out to a new high.

The S&P 500 Index2 and the Nasdaq Composite3 had already topped prior peaks. Smaller companies, which have lagged, broke into new territory last week (WSJ, CNBC).

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An Opaque Glimpse at the Next Four Years - November 16, 2020

The post-election environment has created clarity but also raises new questions. One question that usually arises: How might a new president affect stock market performance?

Like or dislike President Trump, we have a track record regarding policies and style. Stumping on the campaign trail, Joe Biden offered us a preview, but questions remain.

We may gain some insights by reviewing prior market performance, but it won’t answer all our questions. For starters (stating the obvious), no one knows the future.

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