Market Update: 10/1/2020

  • Souders Financial Group

The third quarter of 2020 continued right where the second quarter left off with a continued upswing in the S&P 500 in both July (+5.51%) and August (+7.01%). The market's largest headline included a 4-1 stock split by Apple (AAPL) and a continued rally in the technology sector. September was a month riddled with volatility and finished down (-3.9%) as the market saw a mixture of Coronavirus-related headlines and suspected profit taking causing some rather large down days. The S&P 500 finished up 8.5% for the quarter and is up 4.1% YTD.

As we head into the fourth quarter, we see a market that is fixated on the continued economic recovery. While the November election results could be a catalyst for volatility, we would like to remind our clients that the long-term value of their investments is not determined by a political party or election outcome, but the investments ability to produce revenue and earnings for shareholders. In the wise words of legendary investor, Benjamin Graham: "In the short run, the market is a voting machine but in the long run it is a weighing machine."

For informational purposes only. Not intended as legal, tax, or investment advice, or a recommendation of any particular security or strategy. Please contact your legal or tax professional for more information regarding your individual circumstances. Information prepared from third-party sources is believed to be reliable though its accuracy is not guaranteed. Opinions expressed in the above commentary reflect subjective judgments of the author based on conditions at the time of writing and are subject to change without notice. Past performance is not indicative of future results. For more information about Souders Financial Advisors, including our Form ADV Part 2A Brochure, please visit or contact us at 513-598-2400.