November 17, 2020
The election is over, and the analysts have spent two weeks telling us what the results mean. The stock market rallied just before and after the election was called, but we don’t know if that was just the euphoria of uncertainty being removed, or the start of a longer-term rally — especially with positive vaccine news released during this period. We are not saying that we should not be optimistic about the future pursuant to the election results, but we are saying that, now that the dust has settled, we still have the same issues to deal with.
First and foremost is the pandemic itself. Without the end of the pandemic, the economy does not fully heal. It is hopeful that a stimulus bill to bolster the economy will not wait until the new year, because small businesses and citizens need help now. The size of the stimulus bill and the specific relief contained therein have been debated for months.
As cases spike with the colder weather, we are reminded that the real answer lies within the medical community. We can mitigate the effects of the pandemic by being careful. This includes social distancing and wearing masks. But we can’t get ahead of the pandemic without a vaccine. More drugs to help lessen the severity of infection should also be on the way. Combine an effective vaccine, effective drugs, social distancing and some level of additional stimulus — and 2021 could be a lot brighter than the tough year we have faced in 2020. The recent rally in the stock market in reaction to positive news about a vaccine tells us the markets are hopeful for exactly that.
Source: Origination Pro
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