Here’s a look at data and numbers that defined the first 6 months of 2020.
COVID-19
10.4 million cases worldwide
2.7 million cases in the US
Markets
Tech heavy NASDAQ up 10% vs. Dow down -10%, one of the largest divergences in the indexes ever
Oil down -36% = shutdown economy = no one driving = oil price collapses
Fed
Slashed rates to zero in March and recently said they’ll likely keep rates there until 2022
Injected the economy with $6 trillion of stimulus to stave off a depression
Travel
96% decrease in travelers passing through US airport security
37% drop in hotel occupancy
Entertainment
6.1 billion hours viewed on Netflix in the US
$300,000 total US box office revenue on March 18th (the week after the NBA suspended their season…basically the beginning of the reality of lockdown), down from $11 million on the same date a year ago
Work
Half of all Americans employed before COVID-19 pandemic are now working remotely
30x growth in the number of daily participants who use Zoom (10 million in December 2019 to 300 million in April)
A portrait of devastation to be sure. Yet, it is now in the rearview mirror. The economy is now reopening…slowly…surely. Cases are spiking…the path ahead unclear. Yet, those who keep their head above the fray…those who don’t check their portfolio balances daily…those who believe in the unmatched innovative spirit of the human race…will be rewarded. We will overcome. Over the long term, negative news pales in comparison to the positive innovations that help our economy…and our world…survive and thrive.
Cheers to an unprecedented first half of 2020! Here’s to the 2nd half…The Best Is Ahead!
