The stunning turnaround for the S&P 500 from a nearly 34% tumble in March, when the coronavirus pandemic sent stocks into a nosedive, shows investors gaining confidence from improved economic data and better-than-expected second-quarter corporate results.
Economists say consumer spending could be under more pressure after government aid including additional $600 weekly unemployment benefits expired. Investors are counting on Washington for another economic lifeline, but legislators are far apart on a possible package. Consumer spending is the main locomotive for the U.S. economy, and a report on Friday showed some more improvements for U.S. retailers, though less than economists expected.
Treasury yields moderated a bit, following the big run for the 10-year yield last week. It dipped to 0.68% from 0.71% late Friday. It had zoomed upward from 0.56% through the week.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
The fed poured 1 trillion to prop up the market and you're reporting record gains? It's artificial.
The stock market is not the economy
Hmm how are stocks going up, with so many out of work + and economy contracting?
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks Open Higher, With S&P 500 Closing In On New Record HighThe market opened slightly higher to start the new week. Ugh
Source: Forbes - 🏆 394. / 53 Read more »
Stocks Open Higher, With S&P 500 Closing In On New Record HighStocks opened higher today with S&P 500 closing in on a new record high by skleb1234 skleb1234 the stock market is an indication of corporate health, not the economic wellbeing of the average citizen who has no skin in the game. stocks represent Trump's BFFs financial interests, not those of the everyday person. skleb1234 continent their fathers conquered.' 'The issuing power of currency shall be taken from the banks and restored to the people, to whom it properly belongs.' - Thomas Jefferson skleb1234 If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around(these banks) will deprive the people of all property until their children wake up homeless on the
Source: Forbes - 🏆 394. / 53 Read more »
Two of the most-hated stocks on Wall Street could be best recovery plays, traders sayShort traders are throwing cold water on hopes of a bump-free return to normalcy with consumer and travel stocks among those with the highest short interest. Two traders see opportunity in some of these unloved stocks. TradingNation Njah! Riding with Electrolux here. TradingNation Let's Walmart
Source: CNBC - 🏆 12. / 72 Read more »
Asia stocks set to trade lower as U.S.-China tensions remainStocks in Asia Pacific were set to trade lower on Monday as tensions between the U.S. and China continue to weigh on investor sentiment. Doesn’t matter because the market has shown it cares about nothing & everything is bullish!
Source: CNBC - 🏆 12. / 72 Read more »