Although economic data and corporate earnings continued to show solid improvement, domestic stock markets were down in October. After peaking in early September, all three major indexes – The Dow, S&P 500, and Nasdaq Composite – registered declines for the second straight month. Market activity reflected fears associated with growing coronavirus infections and the related concerns that any new lockdowns could derail the current economic rebound.
Pew Research Center, after polling nearly 15,000 residents worldwide, found 73% on average see China in an unfavorable light … China’s worst score since the survey began. The survey also found 78% of respondents had little or no confidence in President Xi Jinping.
While global equities declined approximately 3% in September, investors were still able to register gains in excess of 8% for the quarter. Over the past six months, U.S. stocks values have soared more than 30% … finishing their best two-quarter performance since 2009. After the steep first quarter plunge, stocks have clawed their way back to modest year-to-date gains.
August was yet another great month for stocks. Global equities advanced over 6% for the month and are now up 33% in just the past five months. The S&P 500 has returned nearly 58% since the market lows reached back on March 23. The technology heavy Nasdaq Composite has skyrocketed over 72% during the same period.
Global stocks advanced for the fourth straight month with returns of just over 5% during July. Since the 21% decline in the first quarter, global stocks have now rebounded more than 25%, marking their best four-month percentage gain in over 20 years.
The care for over 60% of nursing-home residents is subsidized by Medicaid, according to data from the Kaiser Family Foundation. Few private insurers cover long-term care because Medicaid is relatively easy to obtain. It is estimated that Medicaid “crowds out” 70% of long-term care insurance.