Stocks Gain for the Week on Improving Data
Stocks saw substantial gains for the week. On Monday, news of FDA emergency approval for convalescent plasma for treating Covid propelled the markets higher. While some statistics were misstated, the treatment is still believed to be a positive step towards improving case outcomes. On Tuesday, new home sales had their best month since October 2006, […]
Markets Up Slightly While Stimulus Talks Remain Stalled
Most broad stock indexes ended the week slightly higher with the exception of the small cap Russell 2000. Both the White House and Democrats remain far apart on stimulus negotiations. Democrats have cut their original $3.5TN by 1/3 but want to retain $1TN for state and local governments with White House negotiators not willing to […]
Stimulus Standoff and the Bifurcated Economy
Stocks ended the week higher with the small company Russell 2000 index posting the biggest gains. The July jobs number came in better than expected. As of weeks end, congressional negotiators failed to reach a deal for the next stimulus bill and President Trump promised executive action to continue enhanced unemployment, eliminate payroll taxes and […]
