As you are likely aware, the governor of Illinois issued a “shelter in place” order, requiring non-essential businesses to close through April 7th. Operating under the assumption that we are considered an essential business, we will remain open through this time. Given the circumstances, we are readily available at our office by phone, email and by appointment only in-person.In an effort to keep clients up to date, we will be sending a weekly email on Friday afternoon(s) following the close of the market. While we adhere to the philosophy that investing is long term and not week-to-week regardless of the situation, we do feel that direct, honest communication during this time is important.
A brief summary: the stock market saw a volatile week leading to all three major indices (S&P 500, Dow and Nasdaq) down at least 11% for the week. While lawmakers work on a substantial stimulus package for American businesses and individuals, the Federal Reserve took aggressive steps to provide liquidity to the financial system and took interest rates even lower in an attempt to minimize the economic impact.
As always, do not hesitate to reach out to us with any specific questions you may have during this time.
Lastly, we encourage you to support small businesses in your community as they need your support. Stay safe and healthy.