Investing and Economic Commentary

The Labor Department just delivered a shocking employment report for the month of May. Economists had estimated that 8 million jobs were lost last month.
As you may have seen in recent trade confirmations, we have replaced the Invesco SmallCap Low Volatility ETF (XSLV) with the iShares Core S&P Small-Cap ETF (IJR).
As you may have seen in recent trade confirmations, we’ve established a new position in HCA Healthcare (HCA) in client portfolios.
As you may have seen earlier this week in your trade confirmations, we recently exited Omnicom Group (OMC) and established a new position in Applied Materials (AMAT).
Earlier this week, we established a new position in Starbucks Corporation (SBUX) as we seek to take advantage of the market downturn, using the current environment to add high-quality companies to portfolios without compromising on price.
You may have noticed an unusually large number of trade confirmations from Schwab lately and be wondering what trades are being made in your accounts and why.
With stocks sharply selling-off over the last several weeks, we are looking for opportunities to add exposure to high-quality names at discounted prices. Consistent with this strategy, we have recently added Microsoft Corporation (MSFT) to portfolios.
The coronavirus situation continues to escalate and change on virtually a daily basis. The past week has disrupted life for most of us in a number of important ways.
The coronavirus, and the fear of its potential impact on the global economy, has roiled the financial markets. Domestic stock indices were down double digits last week, followed by a massive rebound yesterday.
Earlier this week, we made several transactions on behalf of our clients. While transactions varied by account, they consisted primarily of a portfolio rebalancing and replacing the Invesco S&P International Developed Low Volatility ETF (IDLV) with the Schwab International Equity ETF (SCHF).

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