The PBRMarketTools June 2020 News Summary and US Stock Exchanges Recap
After a rocky start in 2020 The Stock Market Bull now has won the pasture 3 months in a row, still has a ways to go to be ahead for the year.
***Tuesday, June 30
The PBRMarketTools US Stock Exchanges Recap for the Month of June ending 06/30/20:
DJIA ends June at 25,812.88, +3.19% from last Friday, +1.69% MTD, +17.77% QTD, -9.55% YTD, -12.65% from record 29,551.42 set 02/12/20.
NASDAQ ends June at 10,058.77, +3.09% from last Friday, +5.99% MTD, +30.63% QTD, +12.11% YTD, -0.72% from record 10,131.37 set 06/23/20.
SPX ends June at 3,100.29, +3.03% from last Friday, +1.84% MTD, +19.95% QTD, -4.04% YTD, -8.44% from record 3,386.15 set 02/19/20.
The Month of June 2020 News Summary: The Coronavirus Pandemic was the primary driver for most news during June. The coronavirus pandemic tally as of 1:33PM Eastern US by the John Hopkins University CSSE unit is now 10,389,818 confirmed cases globally with 508,406 deaths. For the US it’s 2,620,250 confirmed cases and 126,645 deaths. There does appear to be some flattening out across countries of the world and economies are slowly being opened up. At the beginning of the month there was some optimism that the US could start reopening up its economy and states starting doing so. However, by the end of the month it was clear that there was an uptick rate in cases and several states have had to suspend or further modify their reopening plans. At the beginning of the month there was unexpected turmoil from the death of George Floyd, a person of color, when he died from a knee on his throat for several minutes by a Minneapolis policeman. It was unwarranted and protests broke out across the US that resulted in more deaths and destruction of property, some caused by some aggressive radical groups. This spread globally and other similar cases got wide reporting as well. By the end of the month some dialog was starting to happen. Local, state, and federal laws and proclamations continue to be made as incidents like this are reviewed and made public. This has also caused some bitterness especially in the South where many Civil War Memorials were defaced or destroyed. There does not appear to be an easy path forward to resolve this issues that have simmered and exploded time and again since the US Constitution went into effect in the late 1700’s. US/China trade negotiations were also at a difficult point compounded by events in Hong Kong as China tries to exert more pressure for it to be integrated into its society. Throughout the month the US economy was mixed as the reopening of the economy was attempted. The Federal Reserve gave a somewhat bleak forecast for the economy, rolled back some financial regulations, but also issued a stress test to the major banking institutions. After a major dip in March, the US stock exchanges made a very dramatic comeback for the quarter. The NASDAQ was especially active, set some new record highs, in trading that was volatile for much of the month for all exchanges. The Stock Market Bull prevailed 3-0 for June, but it was not an easy slog because The Stock Market Bear is relentless and continues to try to leverage the coronavirus pandemic and repercussions from it. The first half of 2020 is now in the books. With continued concerns about the Coronavirus Pandemic, the simmering civil unrest, and the upcoming US presidential election, the second half could be just as difficult.
The June 2020 tally YTD is:
The Stock Market Bull: 3 months
The Stock Market Bear: 2 months
Mixed Results: 1 month
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PBRMarketTools.com provides independent news, data, and analysis on 1,000 of the largest publicly held companies with primary operations in the US. The data and analysis is included in The PBR1000 Monthly Snapshots, an MS-Excel workbook with 15 snapshot worksheets, 28 rankings, and over 200 fields of data and information on each company. Click here to find out more!
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