2 investment chiefs at John Hancock's $692 billion investing arm say the post-COVID recovery might disappoint in 2021 — but investors can profit with these 3 strategies
"The jump in weekly unemployment claims was partially due to a rebound from lower claims during Thanksgiving week, but the trend of more Americans losing jobs is clearly rising over the last month," said Robert Frick, a corporate economist at Navy Federal Credit Union. On the stimulus front, Democratic and Republican leaders remain at odds over key elements of their respective proposals. Senate Majority Leader Mitch McConnell has offered a package without pandemic-related liability protections for businesses and aid for state and local governments. House Speaker Nancy Pelosi balked at the proposal, and Senate Minority Leader Chuck Schumer emphasized the need for more state and local relief.
The House voted Wednesday night to fund the government for another week and buy extra time for stimulus talks. The S&P 500 initially gained after Treasury Secretary Steven Mnuchin and Pelosi said they've made progress in negotiations, but the index swung into a loss soon after.