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As 2020 election results have come in throughout this week, one thing that wasn’t expected is the market rally that has occurred. While this has happened for several reasons, it’s helped to remind us why it’s so important to remain diversified and have a long-term financial plan.
Despite record COVID-19 cases, and this week’s hotly contested presidential election, the S&P 500 rallied 7.4% through Thursday’s close, recouping last week’s COVID-inspired losses. Contrary to public sentiment, market volatility declined 33% for the week as the market rallied.1 Given record numbers of new COVID cases and the yet-to-be called presidential election, how can this be?
The market cares less about which political party wins the White House and more about these three things:
Our advice to investors remains the same as it has been throughout this year – stay the course. Stay diversified, remain focused on your long-term goals, and reach out to your advisor if you have questions or want to adjust your plan.
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