Stocks are in positive territory to start the week as June sales of durable goods – products expected to last a long time – came in better than expected. There also appears to be increased optimism that a vaccine will be coming … and will be successful … taking a bit of an edge off of disturbing news on the virus.
What do I mean by that?
Well, tomorrow’s news will mention we reached the sad level having over 150,000 deaths in the U.S. attributed to Covid-19. Some say we opened too soon … others say not soon enough … but we tried to get back to normalcy as best we could … yet two major league baseball games tonight have already been cancelled, and we can expect more to follow … giving us a sharp reminder of the situation we presently face. Google just announced employees are able to work from home until July 2021. This is absolutely maddening.
One interesting thing, related to investments, is to see how much the price of gold has gone up in recent weeks. Is this because of concerns over the economy or thought that inflation will soon rear its ugly head? … as we recognize that gold has, historically, been viewed as a hedge against rising prices.
We have gold … stocks … virus … baseball … these only add to what I am dealing with right now.
My mother has some memory problems, as I’ve mentioned in the past, and I got a disturbing call this weekend where a facility she is in informed me that she is suddenly missing 3 of her top teeth, including the two front ones. The big problem there is she doesn’t have dentures. Oh, my word! I was told she is not in pain and doesn’t even realize they are gone … but no one has a clue as to what happened … and she is in no position to let us know. It is so difficult not to be able to head over and see her … to be certain that she is comfortable.
But it is the world we are in right now, and it is anybody’s guess as to how long this will last.
It was tough to find good news today, so I was relieved to read (second to last note below) that experts are now claiming pizza is good for you … even if you eat more slices than you should.
… and when it comes to pizza (New York style, of course) I just can’t get enough.
Have a slice day,
Joseph G. Witthohn, CFA
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
Direct: (610) 285-9905
cell: (856) 625-7915
… as of 11:44 AM today …