S&P 500 Breaks New Record; Small Business Picture Is Different

Published Friday, August 21, 2020; 8:00 p.m. EST

(Friday, August 21, 2020; 8:00 p.m. EST) It's a tale of two economies: coronavirus hurts small businesses while the tech giants are immune. The Standard & Poor's 500 closed at a new record high, but the recovery picture in the overall U.S. economy is not as bright. The 60 leading economists surveyed in mid-August by "The Wall Street Journal" expect a gradual decline in the unemployment rate to 4.9% by the end of 2023. However, pre-covid, unemployment dropped to as low as 3.5%, and economists don't expect to re-approach that level, "full employment," for at least several years. To be clear, a complete...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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