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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:
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- “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:
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- “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!
- “If my husband and I each have high coverage amounts of life and disability through our employers, is that sufficient?”
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Brent Lyle is the Digital Marketing Coordinator for Your Money Line, the financial help line serving all Pete the Planner® Financial Wellness clients. Brent is a marketing wünderkind who delights in telling the story of brands. On nights, weekends, and anywhere in between, you’ll find him lending his skills to a number of charitable organizations.