iA Wealth Monthly Market Snapshot, August 2020
Major equity indexes ended the month of July higher, despite a surge in COVID-19 cases coinciding with the reopening of economies. Volatility for stocks was high as a slew of quarterly earnings and economic reports were released showing the detrimental impact of the pandemic. Notwithstanding the U.S. economy posting its sharpest contraction on record in the second quarter, investor sentiment remained positive assisted by prominent technology giants reporting better than expected earnings results towards the end of the month.