To say COVID-19 has made 2020 a disastrous year for just about everyone would be an understatement. However, in response to the economic slowdown and losses of income, Congress passed several extensive laws to benefit individuals and businesses that suffered financial hardship because of COVID-19. Therefore, 2020 has given rise to more than the usual tax-planning opportunities.
In third-quarter markets that represented a second consecutive quarter of remarkable overall gains, what stock outshone all the others in the S&P 1500 Composite Index?
Zoom? Apple? Netflix? Nope, none of these nor any of the other trendy FAANG stocks (Facebook, Amazon, Apple, Netflix and Google’s parent company Alphabet). Not Tesla, either.
The anticipation building up to elections often brings with it questions about how financial markets will respond, but the outcome of an election is only one of many inputs to the market. Our exhibit examines market and economic data for nearly 100 years of US presidential terms and shows a consistent upward march for US equities regardless of the administration in place.