During a news conference on Wednesday, Federal Reserve Chairman Jay Powell said the central bank is committed to keeping interest rates near zero, highlighting the uncertainty surrounding the timing of an economic recovery.
In his remarks, Powell again acknowledged the risks of a “second wave” after states reopen their economies. Thursday morning, the Department of Labor released its latest report on weekly jobless claims showing that last week,for the first time. Even though weekly claims have declined from their peak in March, the numbers are still staggering. Since the pandemic began over 44 million people have filed initial unemployment claims.
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Stocks suffer their worst day since March, with the Dow plunging more than 1,800 pointsIt was a brutal day for the market. Stocks tanked Thursday in the market's worst day since the March sell-off as coronavirus cases increased in some states that are reopening. - The Dow fell 1,861 points. - The S&P 500 slid 5.89%. - The Nasdaq lost 5.2%. Don't tell tweety asshole Sarah Eisen needs to bring more optimism or the market falls apart The fall came as a no surprise to me and many others. The 'recovery' rally was a well organized Wall Street Madoff Ponzi scam. It fooled no one outside the US.
Source: CNBC - 🏆 12. / 72 Read more »
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Source: MarketWatch - 🏆 3. / 97 Read more »
S&P 500, Dow slip ahead of Fed outlook; Nasdaq scales fresh highThe S&P 500 and Dow eased on Wednesday, as losses in financial stocks outweighed a boost from technology, with focus shifting to the Federal Reserve's first projections on the economy since the coronavirus outbreak. nutts in motion.
Source: Reuters - 🏆 2. / 97 Read more »