We gathered six investment pros from the Twin Cities to analyze this year s stock performance and tell us what to expect in 2023. Here s what they said.
The S&P 500 index of America s largest companies was down 16% through May 13. The Piper Sandler Minnesota index of the 50 largest public companies in the state was down significantly as well.
Post date:
Wed, 01/13/2021 - 9:57am
Thousands of people are still out of work, many restaurants and retail stores are fighting for their lives and the service industry may never be the same.
But the U.S. stock markets set records to finish 2020, despite volatility produced by the coronavirus pandemic. The S&P 500 Index is up about 70 percent from its March lows.
The market performance could be a sign that the economy will improve over the next six months. It also could just be a result of economic sectors being unequally represented, financial experts said.
In addition, not all Americans share in the wealth of the stock market. A pre-pandemic survey by Pew Research Center found 55 percent of working Americans had retirement accounts grounded in the stock market or other investment vehicles; only 35 percent had personal investments.