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Stocks Regain Ground as States Discuss Plans to Reopen

Globally, billions remain at home under some variation of COVID-related lockdowns and social distancing, a phrase many of us hadn’t heard or used up until this year. Unsurprisingly, this has affected just about every industry, from restaurants to airlines to the oil industry.  The markets, in turn, have experienced some turmoil although they perked up a bit in April on news of a potential therapeutic and unprecedented stimulus out of Washington.

You can get more on fiscal policy, the market’s reactions and what lawmakers plan to do next in the full market letter.  In the meantime, I thought we’d share a few key points.

  • Oil demand dropped precipitously in April, prompting prices to briefly turn negative for the first time in history. It will be some time before prices rebound.
  • There’s no timeline yet for reopening the economy although some states have begun to dip their toes into the water.
  • Despite disruptions, stocks have continued to push higher, although they haven’t yet made up for the deep losses seen in March.

I know life may feel very different from “business as usual” these days, but I hope you take some comfort in knowing your financial plan was tailored to your risk tolerance and ability to handle market volatility.  Know too, that I am thinking of you and your family and wishing you all good health.

As always, please reach out with any questions you may have – about the markets, your financial plan or anything else that I may be able to help with.  Darren and I want to hear how you’re holding up and look forward to speaking with you.



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