The Independent Market Observer

Coronavirus Update: October 2, 2020 [Video]

Posted by Brad McMillan, CFA, CAIA, MAI

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This entry was posted on Oct 2, 2020 1:07:13 PM

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Today I'd like to provide an update on the coronavirus, including the economic and market implications. On the medical front, the news was mixed. Although the pandemic remains under control, the case count continues to rise, as post-Labor Day infections register and as schools and universities reopen. Still, the number of tests has increased, and it now appears to be approaching the needed levels.

Turning to the economy, the recovery continues, with some signs of weakness reversing. Improvement in the jobs market has resumed, consumer confidence has bounced, and consumer spending growth has been faster than expected. Plus, business confidence and spending remain healthy.

In response to this positive economic data, the stock market has rallied. After the drop at the start of September, on fears of a third wave and slowing recovery, the better-than-expected news has brought markets back at least part of the way. So, where do we go from here? Watch my latest video to learn more.

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