MacNicol’s Quarterly Commentary- July 2020
Even if you do not follow the stock market regularly, you probably do know that it plunged big-time in late March on fears that the coronavirus pandemic would halt an economic expansion that was 11 years in the making. Mandatory coronavirus shutdowns and travel restrictions eradicated not only a sizable chunk of corporate profits but tens of millions of jobs that not that long ago seemed to punctuate a decade’s low unemployment rate. Since those worrisome days in late March, however, stocks have performed well perhaps a bit too well. Coronavirus continues to spread and several market-based indicators of economic performance offer investors mixed messages.
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