facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast blog search brokercheck brokercheck
%POST_TITLE% Thumbnail

November - Market Commentary

The 2020 Election appears to be behind us as Joe Biden is projected to be elected as the 46th President of the United States. As of today, Congress is divided as the Republicans hold the Senate (pending the Georgia runoff results) and the Democrats have the majority in the House of Representatives.  Historically, according to Capital Group Strategas, markets have performed best under a split Congress as it provides a balance of power as shown in the below chart. 

COVID cases are averaging well over 140,000 per day and hospitalizations are at new record highs.  As experts have warned, with Thanksgiving, Christmas and New Year’s headed our way, the next 60 to 90 days could be rough.  There does seem to be light at the end of the tunnel as the recent Pfizer and Moderna vaccine efficacy numbers are encouraging as we wrap up 2020 and place this year behind us.

Economic Data 

The economic data continues to strengthen with jobless claims slowly declining along with the unemployment rate. Consumer confidence is rising as companies replenish inventories with retailers gearing up for the holiday season. The housing market remains on fire with home prices rising due to lack of inventory and record low mortgage rates. Finally, Q3 corporate earnings have mostly exceeded expectations and a multitude of companies report positive guidance for Q4 and 2021. The economic data is improving but there is still much work left before we return to pre-COVID levels.

Where Do We Go From Here?

October was an up and down month as volatility spiked due to the virus and election. The Coronavirus is still top of mind for all. A safe and effective vaccine(s) is fantastic news and it has given the markets, particularly the beaten down value stocks, a new lease on life.  

It’s evident that more stimulus is necessary to bridge the gap until the vaccine is widely available to all Americans. Congress appears to be willing to restart negotiations on a stimulus package critical to State budgets, unemployed individuals, and small businesses that are forced to scale back due the virus’ effect. 

What’s Next?

The country needs healing and unification after a combative election and stressful 2020. There are strong opinions on both sides of the political spectrum, but the time to work together so we can flourish as a nation again is now. 

We believe the economy will recover in 2021 as another fiscal stimulus package will be passed and COVID-19 vaccines are expected to be widely available. Hopefully, we can move forward from this year’s wounds and look forward to an extraordinary bright future.

Stay tuned and stay safe!

As always, if you have any questions or would like to discuss your accounts or financial situation further, please call your advisor directly or email us at clientservices@benchmarkfinancial.info. Please visit our website at www.benchmarkfinancial.info  for more information on our planning services.

 

 Any opinions expressed on this email are the opinion or view of Benchmark Financial and/or an advisor of Benchmark Financial and these opinions are subject to change at any time without notice. The content is developed from sources believed to be providing accurate information. Any comments or postings are provided for informational purposes only and does not represent an offer of or a solicitation for advisory services in any state/jurisdiction of the United States or any country where the firm is not registered, notice filed, or exempt.  Readers should conduct their own review and exercise judgment prior to investing and should carefully consider their own investment objectives and not rely on any post, chart, graph or marketing piece to make a decision. Investments are not guaranteed, involve risk and may result in a loss of principal. Past performance does not guarantee future results. Investments are not suitable for all types of investors. Benchmark Financial is not a broker dealer and does not offer tax or legal advice. Please consult your tax or legal advisor for assistance regarding your individual situation.
Benchmark Financial Wealth Advisors is an independent advisory firm providing wealth guidance, investment management, financial planning and qualified retirement plan services. We counsel individuals, families and business owners on an ongoing basis. As a fiduciary, we serve as an advocate for our clients, providing objective advice and comprehensive guidance across all aspects of our clients’ financial lives.
 

 
Investment Advisory Services offered through Benchmark Financial Wealth Advisors LLC, an SEC Registered Investment Advisor. Registration does not imply a certain level of skill or training. Fixed insurance products offered through Benchmark Financial Insurance Advisors LLC. Benchmark Financial Wealth Advisors LLC and Benchmark Financial Insurance Advisors LLC are separate entities. Additional information about Benchmark Financial and our advisors is also available online at www.adviserinfo.sec.gov