Markets & COVID Cases Gain Across America as NYC Opens | Financial Advisors Brace For Change – Financial News & Insights for Monday June 8, 2020

Markets & COVID Cases Gain Across America as NYC Opens. Recession announced – Financial News for Monday June 8, 2020 Major indexes climbed Monday, carrying on last week’s rally. The Dow Jones increased by 1.70%, the NASDAQ by 1.13%, and the S&P 500 by 1.20%. CNBC’s Jim Cramer, the host of Mad Money, spoke Monday about the positive turn of the economy. He believes that the stock market is climbing too quickly as compared to the slower recovery of the economy. He said: “Where are the sellers? It’s almost as if people decided Covid is over. It’s a ‘V-shaped’ rally, and you better get on board. The Friday rally, as sweet as it was off the employment number, has not brought out any sellers. I often think that there has to be sellers at a certain level.” The airline, travel and leisure industries continued to soar on Monday, continuing last week’s streak. American Airlines rose by 6% today, which is adding to its 77% increase last week. The Federal Reserve is set to release an updated policy statement on Wednesday. They will also be showcasing its economic projections, the first since December. Interest rates are not expected to be cut, as they are already in the 0%-0.25% range. It is likely that interest rates will remain near zero for the next two years, in order to stimulate the economy back to normal levels. The National Bureau of Economic Research (NBER) released information today showing that domestic economic activity peaked in February. This means that the expansion that started in June 2009 (at the end of the last recession) lasted until February 2020. This is the longest expansion period on record. The NBER spoke about the situation: “[…] The committee recognizes that the pandemic and the public health response have resulted in a downturn with different characteristics and dynamics than prior recessions. Nonetheless, it concluded that the unprecedented magnitude of the decline in employment and production, and its broad reach across the entire economy, warrants the designation of this episode as a recession, even if it turns out to be briefer than earlier contractions.” READ MORE: https://callputstrike.com/2020/06/08/markets-covid-cases-gain-across-america-as-nyc-opens-financial-news-for-monday-june-8-2020/ Beyond Pandemics & Protests: The Biggest Challenges for Financial Advisors The role of a financial advisor means many different things. Advisors take on the responsibility of guiding their clients through building an asset portfolio, helping them improve their personal financial situation, and being available as a lifeline in the event that things are crashing down in their lives. Advisors are often seen as a fix-all for every problem that clients can think of, especially in times of uncertainty like Americans are experiencing during the COVID-19 pandemic, as well as the ongoing Black Lives Matter protests. This is why great financial advisors can come at a cost. Here are some of the biggest challenges facing the modern-day financial advisor. READ MORE: https://callputstrike.com/2020/06/08/beyond-pandemics-protests-the-biggest-challenges-for-financial-advisors/