US President Donald Trump walked back on his words today regarding financial stimulus. Earlier this week Trump ordered his administration to stop negotiating with House Democrats regarding a new comprehensive stimulus bill. But today the President announced that he will support a limited bill to resume the direct payouts to households affected by the coronavirus.
Though that is one of the most pressing issues, considering the millions of Americans who lost their jobs since the beginning of the pandemic, it leaves out the funding for local government that Nancy Pelosi has been asking for, which is to help public institutions such as schools and hospitals, who are also struggling at present.
Regardless of the bickering between the White House Republicans and the House of Representatives Democrats, US stock indices are rallying on the hopes of some stimulus, at least.
For traders interested in the stock market, today the big names to pay attention to are Disney and Delta Airlines. In the days to come there will be earnings reports from other airline companies as well, which will indicate just how badly the travel sector has been affected by the coronavirus pandemic.
Other notable reports today include the initial and continuing jobless claims in the United States. The initial claims this week increased, the number remaining stubborning above 800,000. In addition, the details from the ECB’s latest policy meeting will also be published today.
Where Europe is concerned, at the moment the coronavirus pandemic is the main issue for the continent. France and Spain are seeing record numbers of daily increases, and German officials warned that a similar fate awaits Germany. It is possible to see more lockdowns in the EU in an attempt to contain the virus, especially considering flu season is fast approaching.
