My colleague Sam Millette, senior investment research analyst on Commonwealth’s Investment Management and Research team, has helped me put together this month’s Economic Risk Factor Update. Thanks for the assist, Sam!
Commonwealth
Looking Back at the Markets in June and Ahead to July 2021
As we close out the first half of the year, we know a couple of things. First, the U.S. economy is almost entirely reopened following the pandemic shutdown. Although we are not yet fully back, the healing process continues. The story for the rest of the year in the U.S. will be about managing the risks, staying open, and growing our economy. As we are largely past the pandemic, the challenge ahead will be keeping the progress going.
2021 Midyear Outlook [Video]
As we head into the second half of 2021, the virus appears to be contained at the national level. The declining medical risks have been good for the economy, with consumer and business activity back to pre-pandemic levels. Markets have celebrated the good news by hitting all-time highs. We’re on the road back to normal—but will risks like labor shortages, supply-chain gaps, and inflation derail the recovery? Watch my 2021 Midyear Outlook video to find out.
Monday Update (on Tuesday): Hiring Accelerates in June
There were a number of important economic data releases last week, with better-than-expected results for consumer confidence and hiring in June serving as highlights. The June jobs report showed that hiring accelerated during the month, demonstrating the positive impact from eased restrictions at the state and local levels. This week will be relatively quiet, with only three major economic updates scheduled.
Market Thoughts for July 2021 [Video]
June was a mixed month for the markets. In the U.S., the Nasdaq and the S&P 500 were up, but the Dow ticked down. We saw the same trend internationally, with developed markets falling even as emerging markets moved ahead. On the economic front, business confidence remains at or close to all-time highs. Still, the problems of success (labor shortages and supply chain issues) loom large.
Euro Area Hits Its Stride
As with the rest of the world, the COVID-19 pandemic had a devastating effect on the European economy, not to mention the continued uncertainty regarding Brexit. The U.S. and China were among the first countries on the path to economic recovery, while Europe struggled to emerge from the lockdowns and had a rough start to its vaccination program.
Olivia has joined Riverstone Wealth Partners providing her expertise gained from her 15 plus years in management. Olivia has provided services within the financial industry, mortgage industry, and in the non-profit sector. Olivia thrives on providing stellar customer service, accomplishing all goals set before her, and doing the right thing. Olivia’s degree in Business Management allowed her to take on roles that ultimately led her to Riverstone Wealth Partners. Olivia is currently pursuing another degree with an emphasizes in Human Resources, which she has learned over time… is her passion!
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Ashley has been working in the customer service field since she started her first job at age 16. For the past ten years she worked in an office setting handling accounts payable and receivable as well as some receptionist work. She is very excited to learn more about the investment field.
Alec joined Riverstone after starting out his post college career on the operations side of an international logistics company working as an account executive. Graduating with a BA in Economics from the University of Illinois at Urbana-Champaign, he quickly developed a strong interest in the financial world. A lifetime resident of the Chicagoland area, Alec is an avid fan of his hometown sports teams. He is also an enthusiast of outdoor activities like fishing, camping, and hiking whenever possible.
Carol has a wide variety of experiences and has worked mainly with not-for-profit organizations. She spent 20 years in fundraising and 15 years teaching in the Illinois school system while she raised her younger children. Carol lives in Sugar Grove with her husband, Ron, and their Golden Retriever, Charley. She has four children and two grandchildren. When she’s not working, Carol enjoys spending time with friends and family, running, fishing, bible study, and watching her grandchildren play sports.
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