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Weekly Investment Update
US equity markets, as measured by the S&P 500 index, advanced to new all-time highs last week as investor optimism toward the pace of the economic recovery continues to strengthen. Despite high levels of unemployment, trends toward consumer spending and housing have been gaining momentum. The index closed the week just shy of 3,400 and is potentially in over-valued territory as implied by several historical metrics (first chart). The concentration of top stocks within the index, such as Apple, Amazon, and Microsoft, has also increased significantly (second chart).
Source: JPMorgan
Source: CapIQ
Key Economic Releases This Week
Source: MarketWatch
Asset Class Returns
Source: Morningstar
As of August 21, 2020
Prices & Interest Rates
Source: Bloomberg, FactSet
As of August 21, 2020
Past performance may not be representative of future results. All investments are subject to loss. Forecasts regarding the market or economy are subject to a wide range of possible outcomes. The views presented in this market update may prove to be inaccurate for a variety of factors. These views are as of the date listed above and are subject to change based on changes in fundamental economic or market-related data. Please contact your Financial Advisor in order to complete an updated risk assessment to ensure that your investment allocation is appropriate.
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Source: JPMorgan”}},{“type”:”image”,”props”:{“margin”:”default”,”image_svg_color”:”emphasis”,”image”:”wp-content\/uploads\/sites\/25\/2020\/08\/SP-500-Index-Stock-Concentrations-over-Time_8.24.20.png”}},{“type”:”text”,”props”:{“margin”:”default”,”column_breakpoint”:”m”,”text_size”:”small”,”content”:”
Source: CapIQ”}},{“type”:”text”,”props”:{“margin”:”default”,”column_breakpoint”:”m”,”content”:”
\u00a0\n
Key Economic Releases This Week”}},{“type”:”image”,”props”:{“margin”:”default”,”image_svg_color”:”emphasis”,”image”:”wp-content\/uploads\/sites\/25\/2020\/08\/economic-releases_8.24.20.png”}},{“type”:”text”,”props”:{“margin”:”default”,”column_breakpoint”:”m”,”text_size”:”small”,”content”:”
Source: MarketWatch”}},{“type”:”text”,”props”:{“margin”:”default”,”column_breakpoint”:”m”,”content”:”
Asset Class Returns”}},{“type”:”image”,”props”:{“margin”:”default”,”image_svg_color”:”emphasis”,”image”:”wp-content\/uploads\/sites\/25\/2020\/08\/asset-class-returns_8.24.20.png”}},{“type”:”text”,”props”:{“margin”:”default”,”column_breakpoint”:”m”,”text_size”:”small”,”content”:”
Source: Morningstar
As of August 21, 2020″}},{“type”:”text”,”props”:{“margin”:”default”,”column_breakpoint”:”m”,”content”:”
Prices & Interest Rates”,”position_bottom”:”0″}},{“type”:”image”,”props”:{“margin”:”default”,”image_svg_color”:”emphasis”,”text_align”:”left”,”image”:”wp-content\/uploads\/sites\/25\/2020\/08\/prices-and-interest-rates_8.24.20.png”}},{“type”:”text”,”props”:{“margin”:”default”,”column_breakpoint”:”m”,”text_size”:”small”,”content”:”
Source: Bloomberg, FactSet
As of August 21, 2020″}},{“type”:”text”,”props”:{“margin”:”default”,”column_breakpoint”:”m”,”text_size”:”small”,”content”:”
Source: Morningstar”}},{“type”:”html”,”props”:{“content”:”