MarketDeal24.Com – Here are five most important things listed that a market participant needs to keep in mind if he or she wants to survive the market today.
The ‘phase 3’ package of support measures for the economy of the United States has moved to House of Representatives, the lower chamber of US Congress.
Previously, the stimulus bill was passed in Senate by a reassuring 96-0 vote.
The bipartisan support in the US Senate reduces the risk of major holdups in the House, whose Speaker Democrat Nancy Pelosi had time and again attacked this bill’s leniency on government support for large businesses.
The damage done to the US economy by the ongoing COVID-19 pandemic will be much clearer today at 8:30 AM Eastern Time (ET) when the country releases initial jobless claims for the preceding week.
A record jump in figures is expected, reflecting the laying off of workers as states and cities across the country prepared to go into lockdown.
Expectations for the figures are widely spread, ranging from 2 million to over 4 million, compared to last week’s 281,000.
Capital markets located across different parts of the United States are supposed to start the day on a bearish note after posing their first back-to-back gains in six weeks.
By 6:50 AM ET, the Dow Jones 30 futures contract was down 98 points or 0.5%, while the S&P 500 Futures contract was down 0.9% and the NASDAQ 100 contract was down 0.8%.
Standard & Poor’s has downgraded the credit rating for Ford Motor’s along with that of Occidental Petroleum.
These two become the latest in a series of downgrading that highlights the nature of America’s corporate debt.
Leaders of different EU countries are expected to press the German chancellor and others to agree to the issuance of common debt instruments to fund the explosion in government expenditure.
Nine leaders, including French President Emmanuel Macron and the prime ministers of Spain and Italy, published a direct appeal to EU Council President Charles Michel on Wednesday for “corona bonds”, a day after the Netherlands, Germany and Austria had refused to discuss it at a meeting of eurozone finance ministers.