Today, I'd like to provide an update on the coronavirus, including the economic and market implications. We’ve had good news on the medical front, as the fourth wave of the virus doesn’t seem to be gaining traction. Case counts and positive test rates are back to the lows we saw as the third wave subsided, and hospitalizations and death rates have improved. One potential problem is that vaccination rates have slowed, which we will need to keep an eye on.
Turning to the economy, we had more positive news. March job gains were excellent, up significantly for the third month in a row, and layoffs have been down substantially in recent weeks. Plus, consumer confidence is now back to pre-pandemic levels. Between more workers and more confidence, we saw very strong economic growth in the first quarter.
As for the markets, both the Dow and the S&P 500 have continued to hit new highs. Earnings season is underway, and for the third quarter in a row, companies are making much more money than expected.
Will these positive trends continue on the road back to normal? Watch my latest video to learn more.