Paul Dietrich’s Market Commentary – B. Riley Wealth Management: Will COVID Slow the U.S. Economic Recovery?
An Update from Paul Dietrich
Historically, August and September are the weakest months for the stock market. The S&P 500 Index has not seen a 5% decline since last fall, making this one of the most prolonged periods without one over the past decade. Stock markets, on average, experience about three 5%+ declines every year. Technically, this makes the stock market more vulnerable in the short term, but I don’t expect any pullbacks to last very long. Even with the increase in the Covid Delta variant, the economy is continuing to grow but at a slower pace. However, there doesn’t seem to be much evidence that consumers are pulling back their economic activity in any meaningful way.
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