Prime Capital Investment Advisors is closely monitoring the coronavirus outbreak on behalf of our clients. Below you will find our latest resources, policies, and procedures. We hope you are staying safe and healthy in these times.
Finish strong. Stocks closed the quarter, and 2020, with strong returns, despite lingering economic concerns brought on by a resurgence in coronavirus cases, challenges with the vaccine roll‐out, and uncertainty around the policy implications following the Georgia Senate runoff outcome.
Don’t tell December that it was a November to Remember. The S&P 500 large‐cap index, the tech‐heavy Nasdaq Composite, and the Russell 2000 small‐cap index all closed out the first week of December, right where they ended November, at new record highs.
The value of working with a financial professional can be determined in several ways. Do you feel confident that you will reach your financial goals? How strong is your portfolio? According to a study by Russell Investments, it is estimated that a good financial advisor can increase investor returns by 3.75%.
Stocks got back to their winning ways with most major global equity indices advancing. The S&P 500, Dow, and Nasdaq indices were all up more than 2% and the Russell 2000 small cap index gained nearly +4%, its fourth straight weekly gain, now up +20.7% in November. In what seems like a routine, for three straight Mondays a promising Covid‐19 vaccine was announced; Pfizer on Nov. 9, Moderna on Nov.16, and AstraZeneca on Nov 23.
The S&P 500 and Dow couldn’t advance for a third week in a row, but small cap stocks were able to extend their streak to three. The Russell 2000 small cap index has gained about +16% in November. For the second week in a row, markets opened on news of a promising new vaccine, only to fade as the week wore on after new coronavirus cases in the U.S. continued to surge and new lockdown measures were announced by various state and local officials.
For more information on how our firm is implementing COVID-19 policies and procedures, please click here.