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When reduced to its simplest form, the U.S. banking industry’s business model can be described as funding long-term loans with short-term liabilities. Banks take in money as deposits from individuals, held mostly in the form of checking and saving accounts.
As students at Ocean City High School have been adjusting to the new normal of virtual and hybrid learning, the fall athletes are looking forward to reclaiming their respective courts, courses and fields to fulfill a sense of life before the pandemic. Protocols have been established to keep the students, staff and coaches safe and heathy during these uncertain times. All fall athletes went through a three phase program designed by the NJSIAA to slowly reintroduce fitness and keep the health and wellness of every individual involved in fall sports at the center of it all. Masks are worn when not engaging in aerobic exercise and six foot of spacing is required when not actively involved in drills, scrimmages, etc. Certified Athletic Trainer Kathy Moran said the coaches and athletes have been diligent about following the rules and procedures so that they can have a chance to compete. “We had 447 athletes signed up for fall sports, and we made sure they were equipped with the proper knowledge and wherewithal to do things the right way from the first day,” Moran said. The fall sports—football, girls tennis, boys and girls cross country, boys and girls soccer and field hockey—are now prepping to get back into competition after a two week “dead period” as school began. The seasons have been shortened and travel squad sizes have been implemented to lessen the potential impact of the pandemic but regardless, the athletes and coaches are excited to get back out there...
On the day that the first American died of the COVID-19 virus (2/06/20), the price of oil was trading at $50.95 a barrel. The economic impact of the pandemic on global business has been historic, driving oil prices down as the demand for energy disappeared overnight.
It has been a six-months of U.S. employment numbers unlike any other in history. The number of working Americans reached a record high of 158.8 million (February 2020) before plummeting to 133.4 million only two months later (April 2020), and now the total has rebounded to 147.3 million at the end of August 2020.
The stock market marches to its own drummer, and what it thinks the economy will be "playing" months down the road. Last week, the S&P 500 index, representing 82% of the entire U.S. stock market capitalization, set five record closings in a single trading week. That last happened during the week of October 16-20, 2017. Since hitting a bear market low on 3/23/20, the stock index has gained +58.1 % (total return) in 111 trading days through last Friday 8/28/20.
There have been six bear markets in which the S&P 500 has suffered at least a 30% decline in the last 75 years (1945-2020), the latest being a one-month, 34% tumble ending 3/23/20. Following each of the six bears, the stock market eventually recovered 100% of the loss that had occurred, i.e., the index eventually closed back above the previous bull market closing high.