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Market Update - November 8th, 2020

11/9/2020

 
​Hope all is well with you and your family. I wanted to give a brief update.  A week after dropping around 6%, the major U.S. stock indexes recovered that lost ground and then some. The S&P 500 and the Dow both jumped around 7% while the NASDAQ surged more than 9%. The economy and corporate earnings continued to show signs of improvement helping to spark a rally that came as coronavirus cases continued to surge and as election results continued to be counted.
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Walkin' Back to Georgia
This weekend, Joe Biden was declared the winner although the President has yet to concede.  The more important news for markets is in Georgia. In the words of the Jim Croce song: "Georgia; she's the only one who knows how it feels when you lose a dream and how it feels when you dream alone." Georgia has long been a Republican stronghold but with rapidly changing demographics Republicans may lose the dream of holding the senate.  The state will be the site of two runoffs on Jan. 5 to settle which party will control the Senate. The post election rally can be attributed in part to investors’ hopes that the likelihood of a continuing partisan divide over control of the White House, the Senate, and the House.  The hope was that a divided Congress might keep the favorable tax and regulatory environment intact.   That result seems less certain today.  

I am here to help at any time. If you would like to schedule a phone/web conference appointment, with Stephen Caruso, Financial Advisor; CLICK HERE. For those of you who prefer an in person meeting I am now scheduling in person meetings as well, please email me if you would prefer an in person appointment.

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    Stephen Caruso
    President & Founder

    Laurel Wealth Solutions

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STEPHEN CARUSO
President & Founder

Laurel Wealth Solutions
p. 800.LWS.4579  (800.597.4579)  |  f. 914.517.5107
e. [email protected]

New York
​31 E. 32nd St., Suite 602
New York, NY 10016
Queens
69-10 108th St., Suite 1A
Forest Hills, NY 11375
New Jersey
10 Shawnee Dr., Suite 1
​Watchung, NJ 07069
Belpointe Financial
125 Greenwich Ave
Greenwich, CT 06830
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Licensed Insurance Professional.
Stephen Caruso is an Investment Advisor Representative offering investment advisory services through Belpointe Asset Management, LLC, 125 Greenwich Avenue, Greenwich, CT 06830 (“Belpointe"). Belpointe is an investment adviser registered with the Securities and Exchange Commission (“SEC”). Registration with the SEC should not be construed to imply that the SEC has approved or endorsed qualifications or the services Belpointe Asset Management offers, or that or its personnel possess a particular level of skill, expertise or training. Insurance products are offered through Belpointe Insurance, LLC. Important disclosures related to Belpointe are available at http://www.belpointe.com. Additional information pertaining to Belpointe’s registration status, its business operations, services and fees and its current written disclosure statement is available on the SEC’s Investment Adviser public website at https://www.adviserinfo.sec.gov/. 
AR-4241  |  18296-2018/12/11
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