Stimulus Fever Pitch With a Side of 2020 Election Expectations
CFA | SVP, Chief Investment Officer
1 More stimulus on the way
There is a tug-of-war currently going on between the US economy and the stock market. Congress and the Fed continue to provide fiscal and monetary stimulus in a concerted effort to pull consumers and corporations out of the economic malaise caused by the Coronavirus-induced "Great Lockdown."
2 Q2 '20 corporate earnings
As of July 2nd, we are seeing record-high cuts to S&P 500 EPS estimates for Q2 2020.
3 The 2020 election
As of July 2nd, Democratic Presidential candidate Joe Biden has extended his lead over 9 percentage points. Not only has Biden extended his overall national lead, but he is currently leading in every swing state.
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