Quarterly Investment Update - 3rd Quarter 2020

Perkins Coie

Stock Market Commentary -

Through July and August, the U.S. stock market continued its recovery as lockdowns eased, economic data was better than expected, and the Federal Reserve stated its intent to keep rates low until at least 2023. September, known as a typically poor month for stocks, lived up to its reputation. Fears of a resurgence in COVID-19 cases and ongoing disagreements in Congress regarding another round of fiscal stimulus led the market down 3.8% for the month. Despite the September decline, the S&P 500 returned 8.9% for the quarter.

Through many businesses are struggling, the initial public offering (IPO) market has been very active this year with more than 235 companies going public so far. The year 2020 is on track to be one of the busiest for IPOs in decades.

Please see full Update below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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