Fluent Financial Market Update as of Dec. 1, 2020

Fluent Financial Market Update as of Dec. 1, 2020

As 2020 finally comes to an end, this has proven to be a year we likely never forget. Great things are still happening at Fluent Financial as our team grows to provide the best customer service to our clients. In September, Trey Talley joined our team as our new Assistant Portfolio Manager, providing us additional depth and scalability.

  • The market rally is beginning to broaden, with lagging sectors beginning to appreciate strongly.
  • The Dow Jones Industrial Average had its best month since 1987.
  • November was a windfall month for our V&O portfolio, up 16% for the month.
  • For the week of November 9th, the Energy Sector had its highest weekly return on record.*
  • On November 9th, Pfizer announced preliminary data for their Coronavirus vaccine, with 90% efficacy. It was submitted to the FDA for emergency use on November 20
  • On November 16th, Moderna announced preliminary data for their Coronavirus vaccine, with 94% efficacy. It was submitted to the FDA for emergency use on November 30
  • Initial Jobless Claims for the week ending November 28th came in at 712k vs. forecast of 775k. Continuing claims also fell to 5.52 million, which was below forecast.

What will be the speed of recovery?

  • The speed of recovery remains unknown.
  • We feel that the worst of the economic damage is behind us.
  • Over the next six months (by June 1st, 2021), we expect the following to occur:
    • The election results to be certified, removing some market uncertainty.
    • A COVID-19 vaccine will be widely available.
    • 2021 Summer travel will unleash pent up demand.
  • The Cold War with China is expected to cool under a Biden Administration, abating some geopolitical risks. However, the opposite could occur during a second Trump term.

Finally, please help us congratulate Mitch for earning the prestigious Women’s Choice Award ® for Financial Advisors and Firms and being featured in USA Today. Tabitha also earned the Five Star Professional Wealth Manager Award and was featured in the November issue of Fortune Magazine.

Sincerely,

Mitch Kramer and the Fluent Financial Team