We are seeing a dramatic change in direction here in the short term for stocks. Will there be stimulus? Trillions in just a few months not enough. Fiscal, monetary, and public works. Nothing is ever enough. More stimulus will come. The wave will flood the markets. The financial system will be saturated with liquidity. But in the meantime, algorithms are not too happy.
Trump’s ending of stimulus talks will mean a ‘much slower’ recovery, Fed’s Mester says
Trump’s ending of stimulus talks will mean a ‘much slower’ recovery, Fed’s Mester says
President Donald Trump’s announcement that no further stimulus talks will happen until after the November election will put a dent in efforts to bring the economy back from its coronavirus pandemic-induced slide, Cleveland Federal Reserve President Loretta Mester said Tuesday.
Fed Chair Powell calls for more help from Congress, says there’s a low risk of ‘overdoing it’
Fed Chair Powell calls for more help from Congress, says there’s a low risk of ‘overdoing it’
Federal Reserve Chairman Jerome Powell called Tuesday for continued aggressive fiscal and monetary stimulus for an economic recovery that he said still has “a long way to go.” Noting progress made in job creation, goods consumption and business formation, among other areas, Powell said that now would be the wrong time for policymakers to take their foot off the gas.
Fed chair warns of economic tragedy if America can’t control the coronavirus – CNN
Fed chair warns of economic tragedy if America can’t control the coronavirus
America is on the long road to economic recovery from the pandemic recession, but dark clouds remain on the horizon.
Southwest Asks Employees to Accept Pay Cuts to Avoid Furloughs – WSJ
Southwest Asks Employees to Accept Pay Cuts to Avoid Furloughs
Southwest Airlines Co. is asking the company’s labor unions to accept pay cuts for the first time to prevent furloughs and layoffs through the end of next year. Airlines have started taking more drastic action, as hopes of receiving more federal aid to cover worker salaries for another six months have grown dimmer, with Congress still at an impasse over additional pandemic relief.
Red Rooster chef Marcus Samuelsson on coronavirus restaurant act
‘Chopped’ judge Marcus Samuelsson: Failure to pass restaurant aid would cost millions of jobs
Small and independent restaurants in the U.S. face a challenging road ahead, even if Congress approves additional financial support during the coronavirus pandemic, restaurateur and celebrity chef Marcus Samuelsson told CNBC on Tuesday. Samuelsson, co-founder of Red Rooster in New York City’s Harlem neighborhood, specifically referenced the so-called RESTAURANTS Act from Rep.
Global Outlook Brightens as U.S. Consumer Imports Reach Pre-Pandemic Levels – WSJ
Global Outlook Brightens as U.S. Consumer Imports Reach Pre-Pandemic Levels
The outlook for the global economy has improved amid evidence that trade picked up faster than expected from coronavirus-triggered disruptions, with U.S. imports of consumer goods reaching pre-pandemic levels at the end of the summer.
UK stocks: Valuations at level last seen in 2008
‘Pretty compelling’: UK stocks at valuations not seen since 2008, analyst says
U.K. stocks are “really cheap” and are a “pretty compelling” buy right now despite Brexit complicating the investment landscape in Britain, one investment analyst told CNBC Tuesday. “U.K. stocks are now at valuations last seen in 2008-2009,” Emma Wall, the head of investment analysis at Hargreaves Lansdown, said.
IMF: Covid crisis not as bad as initially thought, Kristalina Georgieva says
IMF warns of a ‘long ascent’ to pre-crisis levels, but will soon upgrade its GDP forecasts
LONDON – The economic crisis of 2020 may not have been as bad as the International Monetary Fund originally thought, but the path ahead will be a “difficult climb,” Kristalina Georgieva, the Fund’s managing director, said Tuesday. The IMF projected in June a contraction of 4.9% in global GDP (gross domestic product) this year.
States Overpaid Coronavirus Unemployment Claims, and They Want the Money Back – WSJ
States Overpaid Coronavirus Unemployment Claims, and They Want the Money Back
States accidentally overpaid thousands of workers over the spring and summer during a rush to get relief to unemployed and idled Americans. Now they want the money back. Funds have long since been spent and many of those workers continue to struggle with the coronavirus pandemic ‘s economic fallout.
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Billionaire wealth reaches new high during COVID-19 pandemic…
Billionaire wealth reaches new high during COVID-19 pandemic – UBS
ZURICH, Oct 7 (Reuters) – Billionaire wealth reached record high levels amid the COVID-19 pandemic, a report by UBS and PwC found, as a rally in stock prices and gains in technology and healthcare helped the wealth of the world’s richest break the $10 trillion mark.
‘We Were Fortunate on Timing,’ 28-Year-Old SPAC Billionaire Says
‘We Were Fortunate on Timing’: 28-Year-Old SPAC Billionaire
(Bloomberg) — Thomas Healy was secretly arranging a deal to turn his Texas-based truck electrification startup into a publicly traded company when the coronavirus pandemic struck.
Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday Level (WALCL) | FRED | St. Louis Fed
Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday Level
Source: Board of Governors of the Federal Reserve System (US) Release: H.4.1 Factors Affecting Reserve Balances Units: Frequency: Suggested Citation: Board of Governors of the Federal Reserve System (US), Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday Level [WALCL], retrieved from FRED, Federal Reserve Bank of St.
Venezuela Planning New 100,000-Bolivar Bills Worth Just $0.23 – Bloomberg
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The stock market continues to move higher every day as the market has seen more cash, debt, margin flowing inward. Equities are certainly benefitting from low interest rates here in 2020. Mortgage rates are record low at this time as well, keeping real estate prices elevated.