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Guggenheim: Equity Market Views: September 2020

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Guggenheim recently released its September 2020 Equity Market Views.  Topics include:

Monthly View

After finding a bottom in late-March, the S&P 500® Index has now posted gains for five consecutive months and recently returned to new all-time highs.1 Driving the upside has been the ongoing recovery in the economy, the better than feared second quarter earnings season, and progress towards a COVID vaccine. A shift in strategy by the Federal Reserve (Fed) to be more flexible regarding inflation levels added to the positive sentiment.

On the Radar— November: Presidential Election

Before getting into specific implications of the election, it’s prudent to understand the predictive value of the stock market and economy for the executive branch. First, stocks usually begin to sell off prior to opposition party winning the election. With the S&P 500 index recently reaching all-time highs, investors have indicated little concern so far about disruption of the opposition party taking office but again, there’s a few months until the election. One should not ignore how unusual this year has been and the effect on historic anomalies—for example, three stocks have captured nearly the entire return of the market this year. 

To read the full Guggenheim September 2020 Equity Market Review and read the full paper including UIT Investment Implications, please click on the link below:

Market Views: September 2020

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This material is distributed or presented for informational or educational purposes only and should not be considered a recommendation of any particular security, strategy or investment product, or as investing advice of any kind. This material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. The content contained herein is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation.

 This material contains opinions of the author or speaker, but not necessarily those of Guggenheim Partners, LLC or its subsidiaries. The opinions contained herein are subject to change without notice. Forward looking statements, estimates, and certain information contained herein are based upon proprietary and non-proprietary research and other sources. Information contained herein has been obtained from sources believed to be reliable, but are not assured as to accuracy.  Past performance is not indicative of future results. There is neither representation nor warranty as to the current accuracy of, nor liability for, decisions based on such information. No part of this material may be reproduced or referred to in any form, without express written permission of Guggenheim Partners, LLC.

 ©2020 Guggenheim Partners, LLC. Guggenheim Investments represents the investment management business of Guggenheim Partners, LLC. Securities offered through Guggenheim Funds Distributors, LLC.

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