This past year was one for the record books, both for the stock market and for the greater economy. The year began fairly well, with the S&P 500 hitting a record high on February 19. COVID concerns soon impacted the market and the S&P dropped 34%, bottoming out on March 23. State and Federal officials soon initiated the CARES Act and the Paycheck Protection Program, lending to economic recovery and the S&P’s fastest recovery in history. The end of the third quarter was still characterized by market uncertainty, but the fourth quarter brought more growth, with small-cap stocks particularly strong. Though there are still disruptions in the broader economic recovery, the distribution of several viable COVID vaccines is fueling optimism as we move into 2021.
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