The COVID-19 crisis has resulted in the deepest downturn in global economic activity in the post-war era, but almost certainly the shortest recession. US stocks have rebounded over 50% since the March 23rd lows and the S&P 500 is now up over 5% through three quarters. Historically, the 4th quarter is the strongest quarter of the year, but there are some potential headwinds going into year-end. The largest concerns that we are hearing from clients surround the election and what it will mean for their investments. Please click here to continue reading our 3rd Quarter Newsletter.
With the 2020 election around the corner, we thought it would be helpful to outline the presidential candidates’ tax proposals. While it is difficult to determine which policy initiatives either candidate will eventually pursue, we will continue to monitor and keep you informed of developments to both plans. Please click here to read more.
How the 2020 Inc. 5000 Companies Were Selected
Companies on the 2020 Inc. 5000 are ranked according to percentage revenue growth from 2016 to 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They must be U.S.-based, privately held, for-profit, and independent–not subsidiaries or divisions of other companies–as of December 31, 2019. (Since then, some on the list have gone public or been acquired.) The minimum revenue required for 2016 is $100,000; the minimum for 2019 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons.
Note: Growth rates used to determine company rankings were calculated to two decimal places. In the case of ties, the companies with more revenue were placed higher.
After the S&P 500’s worst first quarter on record, the stock market made history with an unprecedented recovery, taking many investors and prognosticators by surprise. Following the market lows reached on March 23rd, the S&P 500 was up 38% through the end of the 2nd quarter, marking one of the sharpest rallies over the past 100 years. The rally was not only monumental given the total return in just 3 months, but there was also 29 trading days (out of 70) that were up over 1%.
With assurance from Chairman Powell that “we will not run out ammunition”, along with optimism that coordinated and focused scientific research would eventually lead to a vaccine (WHO reported there are more than 100 vaccine candidates and over 20 in clinical trials), investors started to look past the pandemic and forward to an economic recovery.