Strategic Wealth Designers: Economists declare recession, stock market ignores it

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The stock market has surged back to completely erase nearly all the loses suffered earlier this year. The bears have gone away and a new bull market is forming. Jordan Schwartz, financial advisor of Strategic Wealth Designers joined the newscast to break down what is going on in the markets.  From certain stocks being a great buy right now, to highlighting the recession announcement by economists this week,  Schwartz said the landscape right now is unprecedented.

“Covid 19 has ultimately not affected near as many as initially thought, just this week the WHO came out and said the Coronavirus almost never will spread from an asymptomatic person to others,” Schwartz said.  “The market has jumped as investors believe the worst is over and the recession talk is already priced in.” Schwartz believes unless a mass outbreak of Coronavirus were to jumpstart itself across the United States again, the worst for financial investors has past.  Consumers are showing a greater willingness to get back on airplanes as air travel has steadily picked up the last month and commute times have restarted with more workers going back to their offices. Some companies who aren’t people facing have opted to keep their employees working from home with no timetable on a return.

Schwartz says there still is time to potentially see some great value buys in the stock market if you have some extra money set aside for investing. “Wealth Managers are jumping back into the market heavily right now, airline stocks, cruise ship stocks, hotels and attractions like Disney are all seeing big growth in the last couple weeks and you at home could consider opting to put some of your financial investments into some of the depleted stocks that appeal to you as well,” Schwartz noted.  To learn more about positioning your financial plan and wealth management strategy visit https://KDVR.com/Money

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