March 30, 2020 - Market Update

Short term profit was taken by investors despite the DOW falling 915 points on Friday. However,  the DOW managed to post a 16.4% gain for the week.  The $2+ trillion-dollar stimulus bill is moving towards potentially being passed by the House. So far over 140,000 Americans have tested positive for COVID-19 and there have been over 2,500 deaths as a to date. 

States are issuing stay at home orders and President Trump is reconsidering statements and setting expectations that conditions may continue into May. 

Investors are anticipating any positive news out of drug trials in New York and other areas, but no quick cure seems on the horizon.  The White House is communicating, based on the advice of the medical community, that America will reach the bottom of the hill by June.  

Interestingly, 8% of Americans who were recently surveyed considered “binge-watching” to consist of watching two straight episodes of a show. 27% thought three back-to-back episodes qualified as binge-watching, and 22% thought four episodes is what is needed. 13% thought it was five episodes, 5% considered the magic number six, 10% thought it was seven and 15% had no idea.