With Wednesday’s passage in the House, the $1.9 trillion Covid relief bill is heading to President Biden’s desk for an anticipated Friday signature, “cementing one of the largest injections of federal aid since the Great...more
With Vice President Harris acting as the tiebreaker (and following a 15-hour amendment vote-a-rama), the Senate voted on Thursday to move forward with the White House’s $1.9 trillion Covid relief measure....more
In Washington: The Center for Disease Control and Prevention (CDC) is finalizing new guidelines to shorten its recommended coronavirus quarantine period from 14 days to between 7 and 10 days. The agency hopes more people...more
As we thought, stocks rallied on Monday thanks to Moderna’s news of promising results for its Covid-19 vaccine, with the Dow and S&P 500 hitting new record highs....more
The European Union has unveiled a new antitrust probe and accompanying charges against Amazon over alleged the “use of non-public business data from independent sellers on its marketplace that could benefit the company’s own...more
New figures from the Congressional Budget Office predict that U.S. government debt will, thanks to the pandemic recession, just about eclipse the size of the nation’s GDP—a level not reached since just after World War II....more
Despite an earlier White House promise to postpone, American and Chinese trade negotiators met via videoconference on Monday to discuss “the status of the trade deal both nations signed in January, a pact that continues to...more
The current COVID-19 pandemic is causing significant concern in the financial markets, reviving memories of the 2008 financial crisis. The sudden and almost complete shutdown of many non-essential businesses due to the...more
As the world grapples with the health threat posed by the novel coronavirus (COVID-19), the secondary threats of the coronavirus—including economic and financial consequences—have come into clear view....more
It’s been a week or so, and we’re running out of ways to say that this is bad. But it certainly is. Your bear market stats for the day: the biggest daily drop by percentage for both the S&P 500 and the Dow Jones Industrial...more
Go ahead and put Tuesday, March 11th in the history books. The same day the WHO declared the COVID-19 outbreak as an official pandemic, the US stock market’s 11-year bull run officially came to an end, with the Dow closing...more
Monday on Wall Street was the equivalent of a well-forecast storm that still managed to blow meteorologists’ minds. The deadly combination of diving oil prices and yet more COVID-19 worries spelled disaster for U.S. markets,...more
It appears that we are in “hurry up and wait” mode. We know that COVID-19 (i.e., the 2019 Novel Coronavirus) has been diagnosed among individuals in the United States, and, reportedly, has been contained. We also know that...more