This is a nice, easy short week so I thought I’d just jot down some nice, easy subject matter as we head into a much-needed Thanksgiving Day weekend.
Vaccine progress is coming in at a feverish pitch, pun intended. We talked about Pfizer’s and Moderna’s vaccines earlier this month. More recently, Astazeneca and Oxford University in England have had success as well in clinical trials. The even better news with this vaccine is that it is far cheaper ($2.50 per dose versus $20 for the others) and can be stored at normal refrigeration temperatures, about 40° F.
If you want updated information on covid vaccine progress, click here: NY Times Vaccine Tracker.
Air travel is picking up in the U.S. I’ve made 6 separate trips since September, traveling to the northeast and the coast. In September, my planes were not even 30% full. Last week, my planes were full and the airports were much more crowded. TSA is still reporting passenger volume down 40% from a year ago, but it is recovering at a pretty good clip and could be back to normal by this summer if vaccines get rolled out quickly during the winter months.
Restrictions have loosened up for U.S. citizens wanting to travel abroad. Here is a great article from U.S. News and World Report that has been recently updated (11/23/2020): https://travel.usnews.com/features/where-can-americans-travel-right-now. It lists countries in alphabetical order that are permitting us to enter their country and the requirements needed.
Covid testing sites are getting slammed. Everyone wants to get tested so they can spend time with family and friends for the holidays. Wait times in Brooklyn were 7 hours this past weekend! Supplies for tests are running low again and delays in test results are increasing. With so much more testing, it should come as no surprise that positive cases being reported are rising dramatically.
Seasonal stock rally. I’d thought I would end on what I think is a positive note. Historically speaking, the best time to invest in stocks has been during the months of November through April. We have a lot of consumer holiday spending, corporate spending, adding to retirement accounts to max out for the year, etc. If anyone wants to look at the charts and data that support this claim, follow this link: https://extradash.com/en/strategies/models/2/best-six-months/.
Stay safe, have a great Thanksgiving weekend, and let me know if you have any questions.
Joe Baker, CFP®
Baker Asset Management, LLC
joebaker@bakerassetmanagement.com
