Thanksgiving just passed, “And we might remind ourselves also, that if those men setting out from Delftshaven had been daunted by the troubles they saw around them, then we could not this autumn be thankful for a fair land.” *, I hope you rejoiced as we did with giving thanks for the blessings of living in a free country.
The election has come and mostly gone, the world did not end, equity markets did not melt, but instead sighed in relief like the rest of the world. And in doing so, The Dow Jones Industrial Average posted a new 30,046 record on November 24th – let me hear the cheers.
Covid vaccines are popping out of the woodwork thanks to a combination of capitalism, science, and government cooperation. We may be enjoying this summer kinda like we used to; how about that!
The Institute for Supply Management’s October Manufacturing ISM® report registered a manufacturing increase of 3.9%, reaching a 59.3% level, the highest since September of 2018.
I’ve noticed equity market leadership broadening beyond the Technology sector confirming economic strength across many industries during my observations.
I would expect this momentum across many factors to continue into 2021, boding well for economic growth and continued expansion of equity prices – Celebrations, I’d say….
Carlos Dominguez – CERTIFIED FINANCIAL PLANNER™, Portfolio Manager, RJFS
* Editorial that has appeared every year since 1961 in the Wall Street Journal
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