Weekly Market Snapshot – August 31, 2020
Created by: Sam Tenney
- During the 2020 Jackson hole symposium, the Federal Reserve chairman Jerome Powell has unveiled the Fed’s plan to bring up inflation by no longer targeting 2% inflation but aiming for an “average” of 2% inflation.¹
- Market rebounds since lows in March have been primarily led by a handful of large cap stocks, according to JP Morgan’s research. The top 10 stocks in the S&P 500 make up 30% of the weight in the S&P index now, higher than any other time in the past 30 years.²
- Since congressional talks over further economic stimulus has stalled, the White house continues to look for ways to provide economic relief through executive orders. As of Wednesday, August 26th, the Trump administration has reportedly met with the top three US airlines to discuss $25 billion in further government aid for the industry.³
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