- The economic rollercoaster ride is clearly not over, especially as some states pause or rollback their reopening plans. But the economic data from 2Q of 2020, parsed in countless ways, will offer some guidance on how long the turmoil will last and how it will affect the future.
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To kick off the week, Karma editor Glenn Gamboa has an update on 2Q and Karma’s top stories.
This week marks the end of the wild economic rollercoaster ride that was 2020’s second quarter.
The Dow Jones Industrial Average started at a low of 20,943 on April 1 and climbed all the way up to 27,572 on June 8 — less than 7% off the all-time high it reached in February — before sliding again on worries about growing numbers of coronavirus cases around the U.S.
The rollercoaster ride is clearly not over, especially as some states pause or rollback their reopening plans. But the economic data from 2Q of 2020, parsed in countless ways, will offer some guidance on how long the turmoil will last and how it will affect the future. At Karma, we’ll publish a look at impact investments in 2Q.
Here’s what else we’ll be watching in the week ahead:
ATLANTIS MEETS MIR (Monday): It’s the 25th anniversary of the Space Shuttle Atlantis’ docking with the Russian space station Mir, a rare moment of international cooperation that would be celebrated even more today.
ADP NATIONAL EMPLOYMENT REPORT (Wednesday): May numbers from the ADP Research Institute were down across the board, with 2.76 million fewer private sector jobs compared to April. Will June’s numbers show a rebound?
INDEPENDENCE DAY (Friday): Sure, travel for the holiday weekend is expected to be down about 11 percent from last year. And yeah, most major holiday plans have been scaled back or scrapped altogether. Doesn’t mean we can’t enjoy a socially distant barbecue and wish each other a happy Fourth of July.
In case you missed it
GSG Chairman Sir Ronald Cohen told the Impact Investing World Forum that if the world could unite behind a standard system of accounting following the Great Depression, we can certainly create a standard system judging how companies fare on ESG issues following the pandemic. Investors expect India’s micro-mobility market to take off because after the pandemic people will be more likely to hop on a two-wheeler than public transportation. Another booming sector thanks to the pandemic? Loneliness-fighting apps.
Levity break
Sorry, Paul Blart. The Segway is ending production.
