$2,000 check for working mothers? (Universal Income)
May consider some qualifications
COVID-19 Update
The Roll-Out Continues
Cases & hospitalizations have peaked since winter
Roll‐out varies by region with KY doing well, TN not doing well
Biden orders masks on Federal property
Biden Agenda
Select First Actions
Keystone Pipeline Project nixed
Drilling banned on Federal Land
Paris Treaty rejoined
Immigration reform
Student loan & other debt relief
Infrastructure plans
Equity Market Summary
January 2021
S&P 500 down 1.1% in January after robust gains in November/December
No major change in sentiment, rather likely a “wait and see” approach to upcoming stimulus
S&P 500 at 22x estimated 2021 earnings, 19x 2022 projection
Earnings
4Q Scorecard
Two‐thirds of companies in the S&P 500 have reported 4Q results
81% had a positive EPS surprise
The blended year‐over‐year EPS growth rate was +1.7%; one month ago expectation was ‐8.5%
Ex: Financials sector generally beating low expectations
Outlook
Several Positive Factors
Low interest rates, low inflation, another stimulus plan, multiple vaccines, institutional re‐openings, high savings/cash levels, high consumer net worth
Impact: conducive to gains in GDP, corporate earnings, equity markets
This material is for your general information. It does not take into account the particular investment objectives, financial situation, or needs of individual clients. This material is based upon information obtained from various sources that Community Trust and Investment Company believes to be reliable, but we make no representation or warranty with respect to the accuracy or completeness of such information. Views expressed herein are current only as of the date indicated, and are subject to change without notice. Forecasts may not be realized due to a variety of factors, including changes in economic growth, corporate profitability, geopolitical conditions and inflation.
