Today, I'd like to provide an update on the coronavirus, including the economic and market implications. After several weeks of improvement on the medical front, we’re starting to see modest deterioration as the country reopens. Case counts and positive test rates are back to early March levels, while hospitalizations and death rates have stabilized. While the short-term risks are real, we do have a better outlook for the next two to three months. At that point, between vaccinations and existing exposure, we should be at or close to herd immunity.
Turning to the economy, we’ve had some good news. Businesses are hiring again, and the jobs data looks much more positive as we move into the spring, with strong gains expected for March. Quit rates, an excellent indicator of worker confidence, are back to pre-pandemic levels, and consumer confidence saw a strong bounce. So, while the medical risks are still very real, the economy continues to get better.
What does this all mean for the markets as we look ahead? Watch my latest video to learn more.