Weekly Market Commentary

With all 50 states at least partially reopened, we are seeing the beginnings of how the process of opening the economy will unfold.  As I mentioned in last week’s commentary, market participants appear to be focused on the optimism that the economy will be reopened and functioning.  I believe that most would agree that if we can get through the next month or so without any major outbreaks of new cases of COVID-19, restrictions will continue to be eased and the economy will be moving back in the right direction. 

I think it is interesting how our own observations around us may be more telling than we realize.  As I drove to the office this morning, I noticed more cars on the road than I’ve seen in probably the last two weeks combined.  These small observations are an indication to me that people are starting to return to their routines and may reflect how anxious, and or, willing consumers are to get back out.  This activity may also signal how the overall reopening process is going.  The attached Wells Fargo Investment Institute article covers this “Grassroots Research” idea in detail.

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