Broker Check

Market Recap (August 17 2020)

August 17, 2020
The market enjoyed another positive week of growth last week, despite a few hiccups. At its height, the S&P 500 clawed closer to the high point of 2020, on February 19th.
Three significant data points this week pointed toward continued improvement in the U.S. economy. Weekly unemployment claims came in below 1 million for the first time in quite a while. Consumer Price Index (inflation) increased as well as retail sales reported in July - both indicators of increased economic activity.
The strength and endurance of the recovery still depends in large part on fiscal stimulus. The White House and Congress appear no closer to a deal but, the markets seem to be expecting resolution.