Market Update - August 2020

A little over five months after plunging -34% in the midst of a health crisis, U.S. equities managed to hit an all-time high in August. This comes as companies reported better-than-expected earnings results for the second quarter of the year, and a growing number of economic indicators (such as retail sales) continue to improve faster than expected. It really has been a tale of two markets though – growth investments in technology and materials (gold) have seen advances of 30-50%+ on the year, while “safer” investments in banks, insurance companies and pipelines/utilities have yet to recover from severe losses. In fact, if it wasn’t for the biggest technology stocks in the US (Facebook, Am

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