Dollar Down Trend, Stocks Up Trend Still Intact after Roller-Coaster Ride
Markets experienced a roller-coaster ride in the first week of September. S&P 500 and NASDAQ extended record runs and it looked like DOW was on the way for a catch-up. Then technology stocks led a steep selloff towards the end...
Worries grow over a K-shaped economic recovery that favors the wealthy
People walk by a store going out of business along 125th street in the Harlem neighborhood of New York City, August 7, 2020. Shannon Stapleton | Reuters The story for much of the past generation has been a familiar one...
Two kids, no support system and $167 in unemployment benefits: One single mom’s plight in the age of Covid-19
Jennifer Haynes, a self-employed chef and single mother living in Rancho Cucamonga, Calif., is struggling to make ends meet after unemployment benefits abruptly stopped in July without explanation. Meanwhile, the 42-year-old is the sole provider for twin boys, one of...
US Elections: A Simple Guide and Market Implications
The 3rd of November is the day that American citizens will decide who will lead their country for the next four years. Opinion polls suggest Biden will win, but Trump is quickly closing that polling gap in key battleground states...
Weekly Economic and Financial Commentary: Jobs Rebound Continues, But Signs of Moderation Ahead
U.S. Review Jobs Rebound Continues, But Signs of Moderation Ahead Employers added jobs for the fourth consecutive month in August, bringing the total number of jobs recovered from the virus-related low to 10.5 million. Although the labor market continued to...
The Weekly Bottom Line: Labor Market Mending Continues, but Risks Are Mounting
U.S. Highlights After reaching new highs early in the week, financial markets tumbled, driven by a broad sell-off in technology stocks. The S&P 500 is on track to end the week about 3% below last week’s close. The labor market...
Forward Guidance: BoC to Keep Rates Low Despite a Rebounding Economy
Expect the Bank of Canada to stay focused on economic growth rather than damage control during its policy deliberations next week. Another gain in August employment – this time more heavily weighted to full-time work – added a measure of...
Week Ahead: September Begins with a Bang!
Monday is a bank holiday in the US and Canada and marks the unofficial end of summer. Many traders will be back in the office this week after August holidays, even amid the coronavirus pandemic. Stocks were the story last...
Powell says low interest rates could last for years
Federal Reserve Chairman Jerome Powell, wearing a face mask, testifies before the House of Representatives Financial Services Committee during a hearing on oversight of the Treasury Department and Federal Reserve response to the outbreak of the coronavirus disease (COVID-19), on...
U.S. is still in a ‘very significant recession’ despite job gains, Fed’s Rosengren says
Job creation in August represents continued improvement in the U.S. economy but a full recovery won’t happen until the coronavirus pandemic is under control, Boston Federal Reserve President Eric Rosengren said Friday. Unemployment fell to 8.4% as nonfarm payrolls rose...
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