I think that the one thing we are all searching for is the one thing we can't have: answers about how this will all play out, when we'll be back at work, what will happen to the economy. Heck, I'm wondering what will happen to some of my favorite small businesses and my girls are wondering if they will be moving back into their dorms this fall. And the answer is still: we just don't know.
Here's what we do know:
The stock market was down slightly last week, but is still, overall, at 2018 pricing. For the year, the S&P 500 is down about 12%. It seems much worse for a couple of reasons. First, we started off with setting record highs. So the drop from the record high set on February 19th is greater than the year-to-date performance of the market. Second, we've been in a bull, or up, market, since 2009. On average, one out of every three years is negative. We just haven't seen many negative years in the last decade.
The federal government has passed another round of stimulus for small businesses. The goal of the program is to have small businesses keep employees on their payroll for the next two months, to give us time to safely reopen for business.
There are resources and options available if you have been laid off, furloughed, or seen your small business shuttered. Maybe not what we've planned, but sometimes life throws you a curve ball. Please reach out and let us walk you through your options.
Next week we'll be sending out our quarterly video update on the market, and a full commentary on the last quarter for some light reading.
We are here for you, your questions, your concerns. Stay safe and well.