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The Latest from Our Blog

Stimulus Talks Led Investors In A Merry Dance Last Week.

So far in 2020, stock markets have been sensitive to fiscal stimulus. Last week, there was optimism a new stimulus package could be negotiated before the election. There also was skepticism about whether it would happen. An expert cited by CNBC stated, “There’s a lot of back and forth on stimulus and every headline makes the market move a little bit, but there’s no follow-through because we don’t have a clear picture on that front.”Economic data didn’t provide a clear picture either. Some data points suggested the economic recovery was continuing, while other information indicated the pandemic was impeding economic growth. For instance:

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It Was A Turbulent Week For Investors.

Waves of positive and negative news buffeted financial markets last week: The financial sector delivered upbeat earnings news Currently, many financial companies in the Standard & Poor’s 500 Index have reported third quarter earnings and have done better than expected. Despite upbeat earnings, some companies’ shares declined because of uncertainty about the path of economic recovery. If recovery continues, some banks may have excess reserves; however, if recovery falters and a double-dip recession occurs, banks may need to add to reserves, reported Barron’s.

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Yes. No. Maybe? Are We Getting a Stimilus Bill?

Markets were sharply focused on the status of stimulus last week. First, it was on. Then, it was off. Then, it might be on. Then, it was off again. There was a big bill. There was a smaller bill. There were stand-alone options. ‘Maybe’ was enough for investors Major U.S. stock indices finished the week higher, per Barron’s, and global indices were bullish on Friday because of U.S. stimulus talks, reported Financial Times. “Markets are dizzy from all the talk on both sides about what they want from a deal but believe that something will inevitably happen anyway…Markets are essentially drunk on massive government spending just as they are inebriated from all the Fed quantitative easing and zero-interest rate policy,” said an advisory group chief investment officer cited by Financial Times.

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