Historic Q2 GDP drop.

The GDP numbers for the second quarter showed a historically unprecedented decrease of 32.9%. Read more…

Resurging COVID cases.

A massive uptick in U.S. coronavirus infections is causing the economic bounce from the depths of the shutdown to stall. It’s looking to be a rough second half of the year for the U.S. economy. Read more…

Unemployment claims on the rise. 

New weekly unemployment claims have increased each of the past two weeks. At the same time, the $600 federal unemployment benefit is set to expire with Congress in deadlock as to a replacement stimulus package. Read more…

Earnings feast or famine.

While large tech companies – Amazon, Facebook, Google, Apple and Microsoft – are successfully navigating the current economic climate, other non-tech sectors – retail, travel and energy – continue to be pummeled. Read more…

Higher taxes down the road.

As the stimulus negotiations continue on Capitol Hill, a fiscal quandary is also taking shape. How will past expenses and future initiatives be paid for? A substantial increase in taxes down the road is likely, regardless of the outcome of the 2020 elections. Preparing for higher tax rates would be a wise move. Contributing to Roth IRAs and converting existing IRAs can prove useful mechanisms for managing future tax bills. If you are interested in learning more about tax efficient investing, don’t hesitate to reach out.