"Should old acquaintance be forgot..."
Let's be honest, everyone was glad to ring in the New Year and waive 2020 goodbye. However, as we look back on the year that was full of drama, there were positives in the market that can't be denied. Despite the massive decline in February/March of last year, the S&P 500 finished with a total return greater than 18%! Only 3 S&P sectors - Energy, Real Estate, & Utilities - ended the year in the negative column. Data from Renaissance Capital shows that 218 equity IPOs came to market in 2020, which was 36.3% year-over-year and the highest since 2014. We will flush out our look back at 2020 and our expectations for 2021 later this week in our 2021 Outlook.
Click on the document below to access this week's Market Recap.