{"id":403,"date":"2020-08-10T00:00:00","date_gmt":"2020-08-10T00:00:00","guid":{"rendered":"https:\/\/www.retirementrefined.com\/index.php\/2020\/08\/10\/markets-get-more-juice\/"},"modified":"2020-08-10T00:00:00","modified_gmt":"2020-08-10T00:00:00","slug":"markets-get-more-juice","status":"publish","type":"post","link":"https:\/\/www.retirementrefined.com\/markets-get-more-juice","title":{"rendered":"Markets Get More Juice!!"},"content":{"rendered":"

Over the weekend,<\/strong> the markets received another chunk of dough<\/strong> in the form of extended unemployment benefits, a payroll tax holiday, an eviction moratorium extension, and additional student loan payment deferment.<\/p>\n

In anticipation, the markets charged higher with the confidence that more juice was on the way.\u00a0 For the week, the Dow rose 3.88%,<\/strong> the S&P 500 2.49%,<\/strong> the Nasdaq Composite 2.51%<\/strong> and the Russell<\/strong> 2000 6.03%.<\/strong>\u00a0 International stocks also rose with developed market stocks up 1.96% and Emerging Markets up 1%.<\/p>\n

Congress Simply Couldn\u2019t Agree (Shocking!)<\/strong><\/p>\n

Instead of attempting to reach a temporary agreement to help people who have been adversely impacted, both sides walked out with the typical finger pointing.\u00a0 I can only imagine the spin we\u2019ll hear this week.\u00a0 Not that you need reminding, however this is an election year!!<\/p>\n

President Trump took matters into his own hands by issuing Memorandums instead of waiting for Congress.\u00a0\u00a0 Unemployment benefits<\/strong> are now extended to December 6, 2020 with the addition of $400<\/strong> per week instead of the $600 that just expired. \"\"<\/p>\n

Student loan payments<\/strong> can now be deferred until December 31, 2020 and you can\u2019t be evicted from your residence for the time being.<\/p>\n

If you earn less than $4000 on a bi-weekly basis<\/strong> your payroll taxes are being deferred<\/strong> for the balance of 2020, with the promise that if President Trump is re-elected, they will be forgiven.<\/p>\n

You probably know where I stand.\u00a0\u00a0 I favor continued unemployment benefits without additional compensation. I\u2019m certainly OK with the eviction moratorium and deferring student loan payments ONLY if you are unemployed.\u00a0 In no way shape or form, do I believe that any payroll tax holiday is necessary at this time.\u00a0 If you\u2019re working and making the same income you\u2019re probably spending less money because of our social restrictions.<\/p>\n

It doesn\u2019t matter what I believe, only what the markets believe\u2026.\u00a0 I do expect the markets to continue higher for a while, however not at the same warp speed, and with a few speed bumps.\u00a0 Technology has certainly led the markets, and I continue to believe new and continuous improving technological advances will do the same.<\/p>\n

As the economy reopens, the parts of the market that have not nearly recovered, such as industrials, financials and energy could move noticeably higher.\u00a0 For August so far, these sectors have out-gained technology, however way too soon to call a change in leadership.<\/p>\n

Schools and Cold Weather<\/strong><\/p>\n

\"\"We\u2019re only a few weeks away from Grammar Schools, High Schools and Colleges reopening, offering in-person or virtual learning.\u00a0 The results of this process will certainly be watched closely, as a lot of money is typically spent during this time which is economically important.<\/p>\n

Not to mention the importance of education is paramount to our future.<\/p>\n

I also wonder what will happen if our restaurant situation doesn\u2019t change when the weather turns colder.\u00a0 Hey, the election is less than 90 days away and the weather change probably won\u2019t be that far behind.\u00a0 I don\u2019t plan on dining outside in 0 degree weather.<\/p>\n

For me personally, I certainly miss the typical way of dining, although we\u2019re making do.\u00a0 I absolutely miss starting my days at Kennedy Fitness in Mount Laurel as those relationships are priceless.\u00a0 Working out at home is fine, however I miss the motivation and accountability.<\/p>\n

So when will we be back to \u201cnormal\u201d or will we?\u00a0 Will we actually get a true distributable\u00a0vaccine sooner than later?\u00a0 I don\u2019t know the answers, however certainly pondering the potential outcomes!!<\/p>\n

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Over the weekend, the markets received another chunk of dough in the form of extended unemployment benefits, a payroll tax holiday, an eviction moratorium extension, and additional student loan payment deferment. In anticipation, the markets charged higher with the confidence that more juice was on the way.\u00a0 For the week, the Dow rose 3.88%, the […]<\/p>\n","protected":false},"author":3,"featured_media":404,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"post_statement":"","post_description":"","post_cta":"","post_button":"Read More","post_button_url":"","compliance_id":"","post_disclaimer":"","footnotes":""},"categories":[20,29,7,9,30,3,27,13,31],"tags":[],"_links":{"self":[{"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/posts\/403"}],"collection":[{"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/comments?post=403"}],"version-history":[{"count":0,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/posts\/403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/media\/404"}],"wp:attachment":[{"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/media?parent=403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/categories?post=403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/tags?post=403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}