As If Coronavirus Never Hit, Retail Recovers

Published Friday, August 14, 2020; 7:30 p.m. EST

(Friday, August 14, 2020; 7:30 p.m. EST) As if the coronavirus crisis never hit, retail sales, according to today's data from the U.S. Census Bureau, are back on track with their growth rate before the outbreak. CARES Act stimulus, in the form of $1200 checks, $600 weekly unemployment bonuses, and Small Business Administration transfers to businesses, fueled the V-shaped-and-then-some recovery. The Standard & Poor's 500 stock index closed Friday at 3,372.85, a fraction off the record high of 3386.15 on February 19, 2020, when the pandemic began a plunge in U.S. stock prices. The S&P 500 closed up +0.64% from a week...

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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.