NEW Update: Second Stimulus Check DELAYS, RISING Cases, & The Economy

This is your Second Stimulus Check update, stimulus package update, and stimulus check 2 update as of Saturday, October 17th for the new stimulus bill. This video covers the second stimulus package, the stimulus update, and the new stimulus package. ✅Join The Power Of Finance Investor Group: https://bit.ly/3aNRzAn

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🗞Article: https://www.cnbc.com/2020/10/16/more-volatility-is-likely-ahead-as-rising-cases-lack-of-stimulus-overshadow-strong-earnings.html

Another volatile week may be in store for traders as cases rise in the U.S. and Europe while Democrats and Republicans remain at an impasse over a second stimulus package. The Dow Jones Industrial Average and S&P 500 fell for three straight days this week and this was the longest losing streak for the averages since mid-September.

Investors and traders should expect this choppy trading action to continue, especially as the worsening virus data and a lack of U.S. coronavirus stimulus draw attention away from a strong earnings season thus far. Tom Essaye, founder of The Sevens Report, in a note to clients that “The combination of no stimulus, fading economic momentum, and the threat of rising virus cases, creates a rather negative dynamic for risk assets right now”. The seven-day average of new daily virus infections has risen in 39 states, including New York, New Jersey and Wisconsin, according to a CNBC analysis of data from Johns Hopkins University and the U.S. Census Bureau. At the nationwide level, the rate of new daily cases is at its highest level since August. On top of this, in Europe, the seven-day average of new virus cases has surpassed that of the U.S., leading several countries in the region to reinstate tougher social distancing rules and roll back previous reopening measures. Basically, “what this means is economic activity may slow down a bit, and we’ve already started to see some of that in the data,” with the weekly jobless claims numbers released Thursday when The Labor Department said initial U.S. jobless claims hit their highest level since August, reaching 898,000 in the week ending Oct. 10. These numbers show how the economy reached a point where “things are not going to get better; they’re going to get worse unless we get more stimulus”

Investors need to keep their an on Washington during the week ahead as lawmakers continue to struggle over the second stimulus package. But ultimately Political posturing on stimulus ‘hurting’ those in need. The back and forth between the two parties has dwindled expectations among market participants of a compromise being reached before the Nov. 3 election. And now there are a lot of concerns surrounding the U.S. economic recovery. But ultimately “To regular every day people, the small and mid-size business owner, the airlines, this is not just about politics; this is every day life and there going to be an impact in the real economy if we don’t see something now.”

#StimulusCheck #StimulusPackage #Stimulus
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Видео NEW Update: Second Stimulus Check DELAYS, RISING Cases, & The Economy канала Michael Wrubel