18 Search Results for: covid
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Market Commentary: S&P Climbs Despite Record Decline in Consumer Spending
Coronavirus actions and reactions continued to swing economic data in the U.S. Consumer spending dropped 13.6% in April. It was the sharpest decline on record dating back to 1959. Income moved in the other direction last month.
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Market Commentary: Economy Slightly Improves as Restrictions Loosen
Another 2.4 million people filed initial unemployment claims last week. The number has declined for seven straight weeks. Unfortunately, 2.4 million is more than three times higher than the pre-COVID-19 record, and the pace of decline remains slow. Because the number remains stubbornly high, optimism for a sharp economic recovery is dropping.
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Market Commentary: Drop in GDP Expected to Continue
Economic news indicated the economic damage from COVID-19 continues to grow. U.S. gross domestic product shrank 4.8% in the face of the coronavirus and social distancing designed to combat its spread. Next quarter, expectations are for a nearly 30% decline. Initial unemployment claims fell to 3.8 million. The number of claims remains high, and the six-week total is more than 30 million.
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Market Commentary: U.S. and Foreign Leaders Moving to Open More Businesses
Leaders around the world announced steps to open up their economies by gradually reducing social distancing as the global economy continued to struggle. In the U.S., more than four million people filed initial claims for unemployment.
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Market Commentary: Investors Optimistic Over Slowing COVID-19 Cases
Similarly to last week, investors had to weigh progress fighting COVID-19 and what that means for the future against the economic toll the virus and policies designed to slow it are having on the economy.
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Market Commentary: Stocks Rise in Hopes that COVID-19 Slows
Investors were faced with a combination of optimistic and pessimistic news this week and opted to accentuate the positive. Health care data reinforced the gradual success social distancing is having in curtailing the spread of the virus.
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Market Commentary: Unemployment Rises, China’s Recovering Economy
The measures slowing the spread of the coronavirus are dealing severe challenges to the U.S. job market. Social distancing has proven difficult for day cares and dentists, restaurants and retail. As the accompanying chart shows, last week, 6.6 million workers filled for new unemployment benefits.
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CARES Act Summarized
As the stock market hit its lowest returns since the 2008 Financial Crisis, the government stepped in in an attempt to boost the economy.
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Market Commentary: Relief Package Enacted as Unemployment Sharply Rises
Markets look forward and, at least for a week, saw signs government is willing to provide support to get the economy through the coronavirus pandemic. The centerpiece of the steps announced last week was a $2 trillion package designed to keep people employed and support those who have lost their jobs.
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Understanding the Market Situation and the Opportunities Ahead
Understanding the Market Situation and the Opportunities Ahead These are unsettling times, both from a public health perspective and an economic perspective. To help provide answers at a time filled with questions, we put together this webinar: “Understanding the Market Situation and the Opportunities Ahead.” In this on-demand webinar, you’ll learn: ‣ The economic impact of COVID-19 ‣ The federal response to the market downturn and what it may mean for you ‣ The long-term outlook of the situation ‣ Some financial planning opportunities that have presented themselves with the down market Hosting the presentation are...read the full article
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