These are indeed interesting times. Our country has been opening back up with great success over the last few weeks, and the economic numbers are starting to reflect a ray of hope for all Americans to get back to NORMAL life. Last week was a decent week for economic data. This statement might seem surprising, given that first quarter U.S. real GDP was revised lower to -5.0% quarter over quarter annualized and tracking estimates for 2Q have fallen to roughly -50% (the Atlanta Fed GDPnow 2Q estim… View More
The S&P 500 Index returned 3.27% last week, gaining back the previous week’s losses. The index is now down less than 7.8% year-to-date and is up over 32.5% since its closing low on March 23. Monday showed its best performance since early April, climbing 3.16% with strength seen in energy stocks as crude oil futures jumped 8.12%. Equity markets were boosted by reports of early positive results from Moderna’s COVID-19 vaccine trial. Positive comments from both Federal Reserve Chairman Jer… View More
With more people spending more time online, cyber security industry experts have observed an increase in cyber security threats. We wanted to share some information on simple things that everyone can do to strengthen their position with respect to cyber security. Please see the attached document to review some recommendations on things you can do to improve your cyber security strength. Sincerely, Fortem Financial(760) 206-8500www.fortemfin.com Latest News Cyber Security Inform… View More
In the middle of last week Federal Reserve Chairman Jerome Powell said the central bank was not considering employing negative interest rates to combat slowing economic conditions. And the data last week did indicate that COVID is wrecking havok with US economic activity. Last Tuesday witnessed a decline in the Consumer Price Index of 0.8% for April. Energy prices declined 10.1% in April, while food prices rose 1.5%. The “core” CPI, which excludes food and energy, declined 0.4% in April, ver… View More
Stocks made a positive move to start off the month with the S&P 500 returning over 3.5% last week, the first positive move since mid-April. Despite stocks moving higher, job losses in April totaled 20.5 million to bring the unemployment rate back to a level not touched since the Great Depression. Investors risk appetites look to be back as technology companies in the NASDAQ Composite index boosted returns to nearly 6% for the week. Fortinet Inc, IPG Photonics, and PayPal Inc were the top tec… View More