Market Perspective 07/10/2020

This week’s Market Perspective is slightly different as we are preparing for our Quarterly Update Webinar. Details on how to attend the webinar - 7/14/2020.

Market Comments July 10, 2020

• Corporate earnings season is underway, a time when companies announce prior quarter results and provide forward guidance and expectations

  • Earnings season typically lasts about six weeks and is an important time for analysts to absorb new market information; next week begins a larger wave of announcements, including several financial companies

• Corporate earnings are expected to be lower than this time last year which the market has already priced in; market prices, however, can vary as actual results are compared to previous analyst expectations

• U.S. stock market advanced over the past week amid increases in COVID-19 cases and as some regions of the country reversed course on re-opening

• Emerging market stocks jumped this week, boosted by the Chinese stock market which has been performing well recently

  • The Chinese stock market rally has been partially attributed to their ability to contain the coronavirus, ongoing policy support, and increasing retail participation

• Biotechnology company, Gilead Sciences, announced improved results from COVID-19 treatment drug Remedsivir; the company noted improvement in clinical recovery and reduction in mortality risk
  

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