PrintThis will be the last of the Coronavirus Update videos, at least for the foreseeable future. There will be one more written update, which will be posted on the blog on June 25.
Today, I'd like to provide an update on the coronavirus, including the economic and market implications. The medical news continues to get better. Case growth and deaths are at levels last seen in March 2020, and positive tests are at the lowest level of the pandemic and holding. Plus, with more than 40 percent of people in the U.S. fully vaccinated, herd immunity remains a real possibility.
The economic news also keeps improving. Job growth was the biggest concern, but it showed a convincing rebound in the most recent report. Other labor market data was also positive, with layoffs continuing to decline, wage growth up, and confidence high. With the medical risks subsiding and the country reopening, the economy should continue to accelerate. And that’s certainly what the markets are expecting.
Despite some turbulence last month around inflation concerns, the Dow and the S&P 500 have moved back close to all-time highs. Earnings season is now complete, and for the third quarter in a row, companies made much more money than expected. So, can we ride these positive trends all the way back to normal? Stay tuned to my latest video to find out.
