Weekly Market Snapshot – May 4th, 2020
Created by: Sam Tenney
- First quarter U.S. Gross Domestic Product (GDP) growth has contracted -4.8% for the quarter. This is the largest contraction in GDP since 2009.¹
- On Saturday, May 2nd, Warren Buffet addressed Berkshire Hathaway shareholders, telling them the company’s investment into airlines, 10% of each of the four major US airlines, was a “mistake” and that “the world has changed” due to COVID-19.²
- US state pensions have lost 12.2% of funding in the first quarter, for an aggregate 62.6% total funding, since December 2019, according to the Wilshire Consulting branch. Some state senators have proposed congress provide more funding for state level pension systems.³
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