Investment Update: October 2, 2020
Last night we learned that President Trump and his wife, along with members of the White House staff, have tested positive for the Covid19 virus. We offer prayers for safety and healing to all of our government and political leaders and their families.
Although the market futures were down over 400 points before the opening of the market, as this is written, the Dow is down less than 0.50 %, the tech-heavy Nasdaq is down just over 1.00% and trading is orderly and consistent with recent market activity. The markets may experience volatility today as updated information as well as rumors dominate the news cycle. While early headlines state that the markets are “dropping” and “tumbling”, thus far it is a normal market day. Often, Wall Street traders may not want to hold positions over a weekend while uncertainty may cloud the markets. We will look to the afternoon trading to observe and acceleration of trading.
While the President is easily identifiable in a high-risk category for Covid19, as President he has the very best medical resources available and the medical community has significantly greater knowledge for treatment protocols since Covid19 began.
The occupant of the Oval Office is often confused with the “Office of the Presidency”, yet the continuity of our government is amazingly strong and has weathered many ailments and situations by the occupant of the Oval Office, including heart attacks, stroke, hypertension, polio, and Addison’s disease, to name just a few. Eight Presidents have died in office while three have been impeached and one resigned. So, the American people can have faith that our government, economy and nation will persevere.
As always, please feel free to call with any questions.