Ep. 368: 2020 Halftime Financial Market Report

Have a question? Get answers. Email us: askpete@petetheplanner.com

The first 6 months of this year have been a doozy. Pete and Damian run the numbers.

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No time to listen? BUMMER. Here’s some of what happened:

Show Notes:

Halftime Report:

    • “Awful first quarter, fantastic second quarter?” “Absolutely.
    • How’d things shake out across categories?
      • Oil: Performed the worst; 35% reduction. The demand just wasn’t there since people all around the world weren’t driving.
      • Transportation Index: Down nearly 16%. People weren’t using cars during the pandemic & economic crisis, let alone buying one.
      • Russell 2000: Down 13.6%. Small companies usually catch a beating in down times; didn’t have the stability to stomach quarantine and the recession.
      • Utility Index: Down 12%. Without rate increases and giving longer grace periods, this isn’t surprising.
      • Down Jones: Down roughly 10% for the year so far.
      • S&P 500: Down 4%. This is a tremendous report for what we’ve all experienced this year.
      • NASDAQ: Up about 12%. This mind-blowing status, considering. The surge in tech product usage really spurred this on.
      • Gold: 18% up so far. People tend to see gold as hard stability in uneasy times. This isn’t quite surprising.
    • “What should a person do when they hear the number one category in a recession is Gold?
      • Damian: Don’t go buy gold now. You’ve missed the run on the panic.

Mailbag Question:

    • “If my husband and I each have high coverage amounts of life and disability through our employers, is that sufficient?”
      • This is a classic question.
      • Listen to the show for the classic answer!

 

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