This past May was the warmest May on record globally, and it should have served as a signal that these summer months would be a true scorcher. Climate forecasters are expecting above average temperatures to continue through September across almost the entire US, putting 2020 on pace to become the warmest year on record. Unfortunately, this warmer than usual weather is coinciding with a time when most of our activities are being hosted outdoors but these restrictions have been critical in mitigating case surges and helping our nation emerge from the ongoing health crisis. But we aren’t the only ones trying to handle the heat! Between the biggest week of earnings, the Fed meeting, and key economic data, there were plenty of headlines ‘hot off the press’ for the financial markets to handle this week, and as we look ahead, some of these same developments, as well as a few others still have the potential to ‘turn up the heat’ on market volatility.
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