TOUGH CROWD – Just 121 of the stocks in the S&P 500 were up YTD through 6/30/20. 153 stocks were down at least 25% YTD as of 6/30/20, including 33 stocks down at least 50% YTD (source: BTN Research).
WHERE DID THEY GO? - The number of publicly listed companies, i.e., companies traded on an exchange, has dropped from a peak of 8,090 in 1996 to just 4,397 today (source: theglobaleconomy.com).
YOUR HOME - 62% of first alien home mortgages are federally backed, i.e., the loans are guaranteed by Fannie Mae, Freddie Mac, the Federal Housing Administration or the Veterans Benefits Administration. The government announced on 6/17/20 that the moratorium on foreclosures and evictions on federally backed, single-family mortgages has been extended to 8/31/20. Borrowers who experience “financial hardship” due to the pandemic may extend the moratorium for an additional 6 months to 2/28/21 (source: Federal Housing Finance Agency).
TAKE IT AND SPEND IT - The CARES Act authorized non- taxable distributions of $1,200 per individual and $500 per child (under the age of 17). 159 million electronic payments and checks totaling $267 billion were paid to income-eligible Americans (source: CARES Act).
JUST IN CASE - 45% of Americans surveyed in May 2020 have living wills in place. Living wills document an individual’s “end of life” medical care wishes in case he/she loses the ability to communicate (source: Gallup).
SPENDING DECLINES AS WE AGE - The average retired couple spends 23% less money in their 6th year of retirement compared to what they spent in their 1st year of retirement (source: Health and Retirement Survey).
BLAME IT ON COVID-19 - Crude oil production in the United States has fallen from 13.1 million barrels a day as of Friday 3/13/20 (the day President Trump declared a pandemic-driven national emergency) to 11.0 million barrels a day as of Friday 7/10/20 (source: Department of Energy).
THIS FALL - 57% of colleges anticipate they will offer “in- person” class instruction for the upcoming 2020-21 school year, just 9% will offer only online class instruction, while 29% of schools w ill provide a combination of “in-person” and online class instruction. The remaining 5% of schools have yet to decide as of Friday 7/10/20 (source: Chronicle of Higher Education).
ROTTEN THINGS HAPPEN - 46% of 1,500 US adults interviewed online during the first week of July 2020 are “very worried” or “somewhat worried” about losing their job (source: Economist/YouGov Poll).
IT CAN WAIT – An estimated 40% of American adults at least age 18 have delayed getting medical care over the previous month as of 7/15/20 due to the COVID-19 pandemic. American adults make up 249 million of our 330 million population (source: Census Bureau).
CAN’T TOUCH ME - As of 7/09/20, an estimated 25% of the 5.4 million renters in New York City have not made a monthly rental payment since March 2020. A 3/27/20 federal moratorium prevents NYC landlords from evicting delinquent tenants or charging them late fees (source: Community Housing Improvement Program).
WE NEED JUST ONE - There are 197 vaccines for the COVID-19 pandemic currently in the development stage, none of which has yet to receive FDA approval (source: Milken Institute).