Washington has pumped trillions of dollars into the economy — supporting businesses and the stock market — but the continuing crush of job losses is rattling investors.
That brings the two-month tally to 36.5 million — an unprecedented spike in unemployment claims that has reordered the consumer landscape. With millions furloughed in the interest of social distancing, the hope is that many of the people who were sent home without pay will be called back. Even as many companies start to tiptoe back into business in areas that have eased out of the lockdown — such as Georgia and Texas — it’s clear that they’re opening back up into a new reality.
“On balance, we expect consumer spending to contract at a 43 percent rate in the second quarter and roughly 8 percent this year,” said Joel Prakken, IHS’s chief U.S. economist.
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Stock market live updates: Rally off the lows, Dow gains 300, bank stocks lead comeback“There is so much doom and gloom, and this thing is not going to last forever.” Here’s what 4 experts have to say about the coronavirus pandemic and the state of the stock market today. “Doom and gloom”? You may think that’s because of 30+ million unemployed? Or small businesses going away forever? We have the most death, most unemployment, and worst economy in the world ,yet Wall Street scam is green after being down big earlier. When does the manipulation stop? Inflating the bubble market is not helping us. Every other market in world was red. Fed reserve investigated plz The FED will help stonks and the rich. The peasants don’t matter...
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Fed survey: The poorest Americans are being hit hardest by job loss - Business Insider'This reversal of economic fortune has caused a level of pain that is hard to capture in words,' said Fed Chair Jerome Powell. Most didn’t get Trump $1200, while I got it and I worked whole Corona times non stop. Mostly always government intervention screw the lowest layers Duh, they have no skills, thus lower paying jobs. Really a non story.
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