July 2020

Coronavirus latest: Americans increase spending in June even as incomes slide

Nasdaq jumps after bumper earnings for Big Tech

Blowout quarterly results for tech giants propelled US stocks higher, even as much of the rest of the economy reports a deep blow from the pandemic.

The tech-heavy Nasdaq 100 index jumped 1.7 per cent at the opening bell after four of the largest US tech companies posted resilient quarterly results late on Thursday.

Facebook led the gains with a 7 per cent increase. Apple rose about 6 per cent, while Amazon climbed 5.7 per cent. Alphabet, the parent of Google, slipped 4 per cent after it disclosed the first decline in sales ever reported by the internet group.

The US benchmark S&P 500 stock index added 0.3 per cent. Chevron and ExxonMobil reported heavy quarterly losses on Friday, with shares in the oil majors slipping about 4 per cent and 0.4 per cent, respectively.

Americans increase spending in June

US consumers lifted spending in June, even as parts of the country dealt with a flare-up in coronavirus cases.

Personal consumption expenditures were up 5.6 per cent against the prior month, the Bureau of Economic Analysis said on Friday. That compared with

Pinterest stock up 38{6b17707e448e34f54d6d1a9e433426abf2addbba8938cba1c35a09fc0ada7803} on growth with users, advertising in the Q2

Pedestrians pass in front of Pinterest signage displayed outside of the New York Stock Exchange.

Michael Nagle | Bloomberg | Getty Images

Pinterest shares rocketed more than 38{6b17707e448e34f54d6d1a9e433426abf2addbba8938cba1c35a09fc0ada7803} in pre-market trading Friday morning after the company reported second-quarter earnings which reflected how people turned to the service for at-home cooking, remote work and activities during the stay-at-home orders.

The company saw total revenue of $272 million, an increase of 4{6b17707e448e34f54d6d1a9e433426abf2addbba8938cba1c35a09fc0ada7803} year-over-year, though it said advertiser demand continued to be affected by the pandemic. Following a sharp drop-off in growth in mid-March as advertisers responded to the pandemic, the company said in a shareholder letter that revenue growth stabilized in April and continued to improve as shelter-in-place restrictions were eased in some states. Pinterest reported its global monthly active users grew 39{6b17707e448e34f54d6d1a9e433426abf2addbba8938cba1c35a09fc0ada7803} year-over-year to 416 million.  

“People needed Pinterest in Q2,” the company said in the letter. “They needed a service that helped them adjust to radically changed circumstances — one that inspired them to cook at home, build vegetable gardens, plan activities for their kids and set up remote offices and home gyms, to name just a few typical COVID-19-related use cases we saw during the quarter.”

The company said

Which Factors Decide The Profitability And Liquidity Of Banks?

A Karachi-primarily based banker receives the most recent update on stocks from his counterpart in Hong Kong in a blink of a watch. However bottom line is that this world government, which many put their hope in to determine world peace, behaved badly toward US consumers and offered toxic loans that were just plain mistaken. I’m sure George Soros desires peace, and needs a government that usurps the sovereignty from individual nations which have the ability to make war. Nevertheless, Mr. Soros must additionally be aware that this one world government is kind of able to stealing from the people and has not confirmed that it’s for “good” on this planet. To this point, this NWO has manifested very dangerous habits in direction of the individuals of the United States and Europe.

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Coronavirus latest: Shifting habits a boon to US delivery and consumer goods groups

US stocks fall at the open after gloomy data and Trump tweet

Global stock markets dropped on Thursday after figures laid bare the enormous contractions suffered by the US and German economies as coronavirus brought activity to a standstill in spring.

The US economy recorded its largest contraction in postwar history as it shrank at an annualised rate of 32.9 per cent in the second quarter.

The fall was slightly narrower than expected, but US stocks slid at the open, with the benchmark S&P 500 down 1.1 per cent and Nasdaq giving up 0.9 per cent.

Futures extended their declines before the opening bell after Donald Trump floated the idea of delaying this year’s presidential election. “It will be a great embarrassment to the USA. Delay the Election until people can properly, securely and safely vote???” the president wrote on Twitter.

The gloomier sentiment sent the price of US government bonds rising, pushing the 10-year yield down 0.03 percentage points to 0.55 per cent.

Emoticon

Trump raises prospect of delaying election

Courtney Weaver

President Donald Trump raised the prospect of delaying the November election on Thursday as the president repeated his

Trump suggests delaying election amid ‘fraud’ claims, but has no power to do so

U.S. President Donald Trump speaks to the news media before departing on Marine One for travel to Midland, Texas from the South Lawn of the White House in Washington, July 29, 2020.

Leah Millis | Reuters

WASHINGTON — President Donald Trump on Thursday suggested that perhaps the United States would need to “delay the election” on November 3, claiming that mail-in voting would make this fall’s election “the most inaccurate and fraudulent in history.” 

Trump has no power to unilaterally delay elections, which were set for the first Tuesday in November through a mid-19th century law passed by Congress. Since then, it has never changed, said presidential historian Michael Beschloss. 

 

But Trump is trailing in the polls by double digits to Democrat Joe Biden, and election experts have long worried that the president would actively try to interfere with the election in order to prevent a potential loss. 

As states grapple with how to help citizens vote safely during the coronavirus pandemic, many have turned to mail-in voting as a potential solution that allows people to cast their ballots without waiting in long lines at potentially crowded polling places. 

But Republicans, led by Trump, have strongly objected to expanding

Insurance

Service provider banks discovered its origin in the early periods in the country of Italy by the Italian retailers. Writing in Saturday’s (22nd, May 2010) Irish , Prof Kelly, who originally predicted the economic crisis, said the open-ended assure of banks’ liabilities and the Nama bailout will go away the Republic with a a worse ratio of debt to nationwide earnings than the one that’s sinking Greece” by 2012. Analysts at Bank of America wrote that the Federal Reserve could announce measures on Sunday evening aimed at bolstering liquidity within the industrial paper market, used by firms for brief-term loans.

The principle coverage used through the Nice Recession, nonetheless, was the monetary coverage because the fiscal policy takes too long to implement. The government tried to use the fiscal coverage to stabilize the economy by lowering interest rates, nevertheless, lowering the interest rates was limited and the federal government had to make use of its reserves. The government carried out a stimulus plan to help improve the speed of unemployment , consumer spending and promote investment by re-establishing confidence in investors. The stimulus plan, created from monetary policy, helped to improve unemployment advantages, federal tax incentives, well being, schooling, energy …