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Another Blowout Jobs Report - July 6, 2020

Nonfarm payrolls surged a record 4.8 million in June, which is on top of the 2.7 million increase in May per the U.S. Bureau of Labor Statistics. According to Econoday, the consensus forecast called for a rise of 3.0 million jobs. Meanwhile, the unemployment rate fell from 13.3% in May to 11.1% in June, beating the estimate of 12.4%.

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One-Third of Investors Over 65 Years Old Dumped Their Stocks this Year - June 24, 2020

Stocks hit a near-term bottom on March 23 (WSJ, various sources, major U.S. market indexes) and have rallied sharply off the low.

Nearly 18% of investors sold all of their stocks between February and May per a study by LPL Research and Fidelity.

  • Almost 31% over 65 years old completely got out of the market.

Some may have bought back in at higher prices, but money market funds hold almost $5 trillion, nearly twice what we saw this time only five years ago.

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