Current Market Review

Well what a six months it has been! Back on our last post March 4 the TSX was down 5.1% and the S&P500 was up 3.2% and the Covid Virus was coming! On March 27 the TSX was down 25.6% and the S&P500 was down 15.3%! As of last Friday the TSX was down only 2.1% and the S&P500 is up 9.5%. Oil went from $22 a barrel on March 27 to $43 a barrel today. And our dollar swung from $71.5 to $76.34 US today.

A V-shaped recovery? Yes but there have been some winners (ie. tech) and some losers. (ie. banks, airlines, entertainment)

What does the future hold for the markets? Well a vaccine would be nice! And “The market usually rises going into a US election with both candidates promising anything and everything. Even Joe Biden has said that he will not raise taxes on people making less than $400k per year or the 90% of businesses out there that are mom and pop and employ less than 50 people.”

Again we will keep our fingers crossed!