It’s a mixed day in the markets today. The Dow and the S&P 500 are in the red as the markets digest the news of the economic impact of the COVID-19 pandemic. The latest economic data shows that in Q2 of 2020, the U.S economy contracted to levels never seen before in post-war America. However, […]
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It’s a good day for the markets today, with all the key indices in the green. This follows strong quarterly results by big tech companies. Facebook announced that revenues in the quarter grew by 11% an indication of the resilience of its business despite the COVID-19 pandemic. On its part, Alphabet beat analysts’ top and
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The markets continue to trade in negative territory, due to the weak GDP economic data released earlier in the day. The data is indicative of an economy that has been significantly hit by the COVID-19 pandemic. Given that there is no vaccine or cure available, it indicates that in the near-term, demand could remain low,
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The markets have opened lower today, amidst weak economic numbers in the U.S. Data shows that the U.S GDP dropped by 32% in the last quarter. The number of jobless people also shot up indicating a weakening of the labor markets According to the Commerce Department, there was a spike in the country’s jobless numbers
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The equity markets have regained upside momentum this afternoon. This follows the Fed’s decision to keep supporting the markets. A statement from the FOMC said that the direction the economy takes will depend heavily on the coronavirus and that the virus will significantly affect employment numbers and inflation. The Fed then added that it was
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The markets are in uncertain territory this morning as they await direction on the stimulus package from Congress and monetary policy direction from the Fed. On the bailout issue, the markets will be looking for a hint on a compromise between Democrats and Republicans. One key event that is heavily watched is a hearing between
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Stocks posted losses yesterday after several prominent companies reported slower-than-expected earnings figures. The NASDAQ was the biggest loser with 1.2% declines, while the DJIA and S&P 500 suffered only fractional losses. This morning, US futures are pointing to a slightly higher open, Fed Chairman Jerome Powell is set to speak today, and his comments could
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The key stock indices are down this afternoon, continuing a trend that started earlier in the day. At the moment, the Dow is down by 0.23%, NASDAQ by 0.15, while the S&P is hovering between positive and negative territory. The lack of momentum is due to market uncertainty with regards to the second bailout that
The Coronavirus crisis has hit the apparel industry hard. Less consumer demand, Less discretionary spending, and online orders resulting in stores remaining closed continue to take their toll on the apparel manufactures. Apparel Manufacturing industry has decline over -39.60% year to date and over 3.97% in last three months. Last month was especially good with
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It’s a mixed day for the U.S stock markets as investors await progress on a possible $1 trillion bailout for the U.S economy. Yesterday after the close of trading, senate majority leader Mitch McConnell announced the HEALS Act. This is a new stimulus bill that aims to cushion vulnerable Americans from the adverse effects of
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