Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
Blog Home
Bob Carey
Chief Market Strategist
Click for Bio

Follow Bob on Twitter Follow Bob on LinkedIn View Videos on YouTube

  US Stock Markets Ended August 28, 2020
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

Stocks continued to rise to record levels last week after a clearer path was laid out by the Federal Reserve. In a shift from previous statements, chairman Jerome Powell said the Fed would be more accommodative and let inflation and employment run at higher rates that will likely accompany lower interest rates. The statement came as unemployment benefits dropped, signaling the labor market is recovering. President Trump officially accepted the GOP nomination on Thursday. His speech at the White House made history, as the site was used for a political event after the President had canceled plans to deliver his speech first in North Carolina and then in Florida. Abbott Laboratories announced on Wednesday that the FDA had given it's $5 rapid result COVID-19 test the go-ahead to manufacture. The White House later announced it would be buying 150 million tests after Abbott said its production would run at about a 50 million a month rate. Moderna Inc also announced positive phase 1 trial results for its COVID vaccine. The vaccine produces consistently high levels of neutralizing antibodies in older adults. Moving to the corporate economy, MGM Resorts announced it will lay off 18,000 employees while Coca-Cola is offering buyouts to 4,000 of its employees. Looking ahead, investors will be looking at the market through both the Biden and Trump policy lenses. With the debates scheduled for September 29, October 15, and October 22, the two candidates have one month to streamline their messages to their respective bases.
Posted on Monday, August 31, 2020 @ 8:14 AM • Post Link Share: 
Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Search Posts
Market Commentary and Analysis
Market Commentary Video
Weekly Market Commentary
Weekly Market Watch
Monthly Talking Points
Quarterly Newsletter
Market Observations
Subscribe To Receive Email

US Economy and Credit Markets Ended August 28, 2020
E-Commerce Sales Are Thriving
How Bonds Have Fared During The Rebound In The Stock Market
US Stock Markets Ended August 21, 2020
US Economy and Credit Markets Ended August 21, 2020
How Stocks Have Fared In The First Year Of A Four-Year Presidential Term
Homebuilder-Related Stocks Closing In On 2005 Historical Peak
US Stock Markets Ended August 14, 2020
US Economy and Credit Markets Ended August 14, 2020
A Snapshot Of Bond Valuations
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2023 All rights reserved.