Consumer confidence is the key determinant of growth.
U.S. equity markets rallied to record highs in July despite rising medical risks that caused some mid-month volatility.
While the medical risks are rising, their effect on the economy is not likely to be significant.
Expect the Fed to stay the course.
May was another good month, albeit one with some ups and downs.
The Dow index was first published 125 years ago.
April was a good month, and May looks likely to be a good month as well.
The first quarter looks to be the turning point, both for the pandemic and the economic damage it has caused.
Current policies are likely to remain unchanged for some time.
Looking forward, our prospects look clearer.
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