I have to admit, it’s impressive how well the market has done over the past year. With all business has had to deal with, it would be easy to conclude a 2020 market recap by writing it all off as just another casualty of this terrible year. But that hasn’t happened!
Don’t get me wrong… There have definitely been ups and downs over the past few months. But we’ve also seen great market results and high highs from certain sectors.
How can this be? Let’s take a closer look.
I want you to look back at the end of the previous statement when I referenced, “… high highs from CERTAIN SECTORS.” That’s the key… certain sectors. The market as a whole has managed to stay afloat during these troubling times, but that doesn’t mean every industry has managed to profit.
As I’ve discussed previously, stay-at-home stocks really took off during our quarantine period. This bullishness also reached out into the tech sector. Any industry that focused on isolation and/or work mobility has seemed to really have a good year. They might be the only ones to look back on 2020 and smile.
That being said, there are many more industries that have suffered substantially. Some were forced to close their doors forever. And it isn’t only the local mom-and-pop shops that have suffered. Major retailers like Brooks Brothers and Macy’s have continued to face negative returns throughout the year.
So, a 2020 market recap can be summed up pretty simply… Stay-at-home stocks good, brick-and-mortar stocks bad!
(All right, there’s much more to it than that. But we keep coming back to this over simplified explanation.)
Today, I sit down with WealthPress Head Trader Roger Scott for our weekly roundtable session. As usual, we are coming to you unrehearsed and uncensored to share our take on the recent market moves and industry health. We’ll also look back at our 2020 market recap to focus on some of the statistics that have led us to our current economic standing.
Here’s What We’re Thinking…