Month Ahead

August 2020

Month Ahead

Each month, Wellspring's wealth strategist and advisors will share news and articles to shed light on the current economy, financial markets, and common tasks for maintaining a well-rounded and resilient personal financial plan.

Click on the links below to learn more.

Economic Data

August 3 - Manufacturing output (ISM PMI) report

August 5- Service output (ISM non-PMI) report

August 7 - Employment and unemployment figures

August 14 - Retail sales report

August 17 - NAHB Index (housing market index) report

August 25 - Consumer confidence report

Another economic stimulus on the way, HEALS Act ("CARES 2 Act"), Jim Wang for Forbes wrote:

"The Senate is set to recess on August 7th and the House of Representatives is set to recess on July 31st. House Speaker Nancy Pelosi has said she is willing to delay the recess to pass a stimulus bill but Senator McConnell has not. This leaves them with a deadline of August 7th. That’s only 10 business days to get a deal done."

Recap from CNBC, Senate GOP Unveils Coronavirus Relief Plan with 70% Wage Replacement

Although written in 2018, Morgan Housel touched on several themes in our history that has bearing to today's socioeconomic conditions and may stir up ideas to ponder on of where the U.S. and global economy can be heading towards. How will America and rest of the world evolve from 2020 and beyond? How soon will we appreciate technology has and will continue to change the way we work, and will it be sustainable? Additionally, working at a historical pace to find a vaccine, how will this change the way we innovate, applying what we have learned to future initiatives?

"Things were very uncertain, then they were very good, then pretty bad, then really good, then really bad, and now here we are." (PDF version HERE )

Financial Markets

News on U.S. equity, Lu Wang for Bloomberg wrote:

"As U.S. stocks climb to their most expensive levels in two decades, the executives in charge of the companies benefiting from the rally are showing signs of anxiety."

Midyear Outlook: International Markets on the Comeback Trail (from Capital Group)

"'I like to compare it to basketball — a sport where the U.S. historically has been fairly dominant,” he says. “But then Argentina started getting better, and Greece started getting better, and Spain started getting better. And, the next thing you know, the U.S. lost the Olympics.'"

Personal Financial Planning

Some food for thought provided by CFA Ben Carlson for A Wealth of Common Sense:

"'How much do I need to save for retirement?' is one of the harder questions to answer in all of finance because so much of it depends on your lifestyle, spending habits, lifespan, debt profile, risk appetite, financial market returns, life events and so on."

Continue to stay healthy, practice social distancing, wash your hands often, and wear a mask when in public settings.

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