(Friday, June 12, 2020, 6 p.m. EST) After the disastrous -33.5% economic contraction ends in 16 days, the nation's leading economists expect the U.S. to grow 14.2% in the third quarter, according to the consensus forecast of 60 economists published in The Wall Street Journal today.
The upbeat results from the survey of more than 50 leading public- and private-sector economists contrast with a 5.9% plunge in the Standard & Poor's 500 index on Thursday and a resurgence of Coronavirus across southern and western U.S.
The survey was conducted in the past 10 days by The Journal and is evidence supporting the case that a strong recovery is likely but will be tempered by a slow return to the all-time peak in real gross domestic product of the fourth-quarter of 2019.
The S&P 500 rose +1.3% on Friday but was down -4.9% from last week. It's up 30.5% from the March 23rd bear market low, closing at 3,041.31.
The S&P 500 closed last Friday with a +4.8% weekly gain, The index had gained 3% a week earlier and 3.2% the week before.
Nothing contained herein is to be considered a solicitation, research material, an investment recommendation, or advice of any kind, and it is subject to change without notice. It does not take into account your investment objectives, financial situation, or particular needs. Product suitability must be independently determined for each individual investor.
This material represents an assessment of the market and economic environment at a specific point in time and is not intended to be a forecast of future events or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete, and is not intended to be used as a primary basis for investment decisions.
This article was written by a professional financial journalist for Kevin Kennedy, LLC and is not intended as legal or investment advice.
© 2024 Advisor Products Inc. All Rights Reserved.
CONTACT
Phone: 510-748-1898
Fax: 510-748-1896
kevin@KevinKennedyLLC.com
1516 Oak Street, Suite 101
Alameda, CA 94501
© 2024 Kevin Kennedy, LLC. All Rights Reserved.
Stocks Closed At A Record High
The Standard & Poor’s 500 stock index closed Friday at a new all–time high, ending the first quarter of the year with a gain of 10%. That’s as much as
Federal Reserve Projects Strong Growth
The Standard & Poor’s 500 index soared 2.3% last week and is on track to close the first quarter of 2024 with a gain of more than 10% — more
This website uses cookies for navigation, content delivery and other functions. By using our website you agree that we can place cookies on your device. I understand