This week, I’m talking about opportunities and risks in today’s stock market. 

Today, I’m talking about why I think the worst is likely behind us with the Covid recession and its impacts on the stock market and the economy. 

Of course, there is always a risk that the economy could shut down all over again, but short of that happening, there are a lot of reasons to be optimistic that the Covid recession will have been swift and short-lived. 

Looking at the numbers, As the U.S. economy continues to reopen, the Atlanta Fed is projecting GDP will grow +29.6% in the third quarter, with further strength expected in the 4th quarter.

On the jobs front, the unemployment rate dropped to 8.4% in August, down from 15% at the beginning of the pandemic. The economy has regained about half of the jobs lost this Spring, yet we still have 11.5 million fewer jobs than in February. 

There are specific industries like travel, brick & mortar retail, and restaurants that may take years to come back...if at all, but with the exception of the hardest hit industries, the economy is already on a sharp trajectory of recovery, and I think general fears about the next shoe dropping are generally unfounded. 

So if you’ve been hesitant to save more this year or if you’ve even got spooked by everything and gone to cash with your investments, I don’t believe its rational to remain on the sidelines and as I’ll talk about later this week, there are still plenty of investment opportunities for growth ahead.

That’s it for today. Thanks for listening. My name is Ashley Micciche and this is the One Minute Retirement Tip.

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