We Have a Lot to be Thankful For
Despite the train wreck of a year that 2020 has been, the markets have recovered losses suffered in February/March, the economy continues to heal, and a virus that was projected to kill “millions” in the U.S. has fallen thankfully short of that mark. We do indeed have a lot to be thankful for this week as we observe an important holiday. Vaccines for the virus are now within reach of distribution nationwide and we are inching ever closer to the New Year when we can wave this disaster of a year goodbye!
The rotation to “value” stocks from “growth” stocks appears to be in-tact. The economy picture continues to slowly improve. Retail Sales disappointed in October, but this is common before the holiday-driven ramp up in spending. Housing continues to shine. Financial conditions nationwide are getting better during this most recent surge in cases, unlike in February and March. With the delivery of a successful COVID vaccine, we could see volatility wane heading into 2021.