05-01-2020: U.S. GDP Downsized By 4.8% In First Quarter
InvestTalk
Hosts Justin Klein & Luke Guerrero, CFA | Wealth Managers and Investment Advisors
4.4 • 1.5K Ratings
🗓️ 1 May 2020
⏱️ 47 minutes
🧾️ Download transcript
Summary
Amid the steepest contraction since the financial crisis, consumer spending, nonresidential fixed investment, exports and inventories were the biggest drags on U.S. economy.
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Transcript
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| 0:00.0 | This podcast is produced by KPP Financial, Steve Peasley President, |
| 0:10.3 | KPP Financial, Independent thinking, shared success. |
| 0:15.0 | And now today's podcast. |
| 0:17.0 | Good afternoon everybody. |
| 0:20.0 | Welcome to Invest Talk. It is Friday, May 1st, |
| 0:26.3 | 20, first day of May. You know, there's that old saying, Go Away in May, you know, |
| 0:31.9 | that's an old investment saying because May tends to be |
| 0:36.2 | a down month tends to be the best months of the year the last three months of the |
| 0:40.7 | year the first three months of the year and the worst months is |
| 0:43.2 | the middle part of the year but you know I'm I think that we're due for a |
| 0:49.9 | correction back down to retest those lows. |
| 0:52.6 | But we'll see. |
| 0:54.4 | In January, would you believe everybody, |
| 0:56.7 | we'd be talking about the coronavirus |
| 0:59.0 | and how the market's been so devastated by it |
| 1:01.6 | and the economy is still shut down still I mean you talk |
| 1:06.1 | about something that's never happened before we've ever shut down an economy so |
| 1:10.6 | there's a lot of questions for investors to ask. |
| 1:15.0 | What do you do? |
| 1:16.0 | You know, and I'm going to answer those questions. |
| 1:19.0 | That's what the show is all about. |
| 1:20.0 | What's the best thing we can do? |
... |
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