Economically speaking, you would never know that a year ago we were mired in a mess of unemployment, fear, and uncertainty. The stock market has long been a leading economic indicator moving in front of the actual economy and 2020 proved no different. A year ago stock prices had already begun to rebound, while other parts of the economy took more time to find their footing. Today, unemployment has dropped down below levels of concern, the housing market is red hot, and the consumer is confident and very willing to borrow and spend because of their optimism about their financial future.
Hope and optimism shine bright around the pandemic as more and more of us gain protection via the vaccines. Pair all of this with the sunshine and warmer temperatures this season of the year brings and a lot of people are again loving life. While I could issue caution around the certain corners of the stock market being over-priced or other troubles of the world, I too am just going to let the amazing sun shine down on me today and be thankful for where our world is today vs. a year ago.
As always, we hope you find the Weekly Market Review both informative and interesting. Have a great sunshine filled day!
Trevor N. Coe, CFP®