Watch MAP President and CIO Michael Dzialo discuss how we view the economy, our outlook on inflation, and other secular trends impacting the market.
Stocks marched higher during the past three months, marking the fifth consecutive quarterly advance since the pandemic-induced crash last year. Value stocks continued their upward momentum but did give up some of their gains relative to growth stocks in June.
As the world continued to grapple with the coronavirus, the United States attempted to thread the economic needle. Record-breaking fiscal stimulus was passed in record time. Thankfully, the U.S. has been able to avoid the most negative potential economic outcomes.
The entire auto industry has been hobbled for months by the worldwide shortage of semiconductor chips, which has prevented manufacturers from producing enough vehicles to meet the demand from Americans eager to spend their pandemic savings and stimulus checks. As a result, many dealerships are practically barren of inventory, and new rides are fetching record prices.