4/3/20 Market Notes
Updated: Apr 7, 2020
Staying positive doesn’t mean you have to be happy all the time. It means that even on hard days, you know that better ones are coming – There are many things we can only try to predict about the course of this crisis, but we know it will end. And very possibly, the worst of it will be over soon. All of us here hope that all of you stay healthy and safe during these frightening times.
For investors, we’d never recommend hope as a strategy. Faith and discipline, however, are our favorites. Faith isn’t defined in the religious sense (although that’s okay too), but as complete confidence and in trust in someone or something. We have faith in our process and how we’ve refined it and our disciplined approach to it, over decades of experience which have included many crisis.
The wild ride on Wall Street continued on Thursday, which saw oil prices rising by 24%, it largest single day gain ever. Stocks too performed well, in spite of a staggering unemployment number. The Dow Jones Industrial Average rose 469 points, while the S&P 500 has a similar 2 ¼% gain. The small cap Russell 2000 index only rose ½%, as investors feared that smaller businesses would fare the worst through this crisis. On sector basis, Consumer Discretionary companies lagged behind, registering a 0.35% gain, while many other sectors rose more than 2%. The U.S. dollar was mildly higher, and gold prices rose more than 3% to $1,638 per ounce.
Disclosures: This market commentary is written by the 1879 Advisors® and represents the views of 1879 Advisors®. This commentary is not investment advice and should not be used as a basis to make investment decisions. Please consult with your registered investment advisor before making any investment decisions.