News that President Trump tested positive for COVID-19 dominated Friday’s headlines. The markets responded and not even the possibility of a COVID-19 relief package could pull markets out of the red. However, looking at the week as a whole, all major markets did manage to eke out positive returns, snapping a 4-week streak of losses
As anticipated, despite the volatility in September, markets did post gains over the third quarter.
It is too early to know how the President’s COVID-19 diagnosis will play out. And that uncertainty will likely impact the short-term market performance. We urge you not to make emotional decisions and stick to your particular investment discipline.
The other major news story of the week centered around continued efforts in Washington to broker another COVID relief package. The House passed their version of a new COVID-19 relief package at the end of last week. We will see how the senate responds.