After fielding a few curious questions on the market’s reaction to the vaccine news of Monday, we thought we would briefly give you our view of the possibilities.
As we had mentioned a few times here and here Capital Markets were likely a bit over their skis. Smartly and good in our minds after an incredibly positive reaction to the vaccine news Monday market participants realized where they were with relation to earnings and likely cooled their jets.
Said another way … had we been much lower we maybe would have had a much stronger rally but being ahead of ourselves it may have tempered higher market valuations.
Specific industries such as travel and leisure, left for dead by many, did see significant increases, albeit from extremely low levels.
For the first time the Masters a stately golf tournament in Georgia is being played in the fall. Known as one of the most elegant golf courses and well-manicured it will be interesting to watch a Sunday conclusion under much different fall colors
But today is a Friday heading into a mid-November weekend and wonderful day in our neck of the woods getting cooler but nice fall/autumn temperatures!
Enjoy and talk to you next week!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth