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Market News
- Thread starter weatherweenie
- Start date
weatherweenie
Well-known member
[h=1]Fed’s Esther George sees risks building of double-dip recession[/h]
https://www.cnbc.com/2020/08/26/feds-esther-george-sees-risks-building-of-double-dip-recession.html
https://www.cnbc.com/2020/08/26/feds-esther-george-sees-risks-building-of-double-dip-recession.html
Dow rises 250 points as Mnuchin says lawmakers will give stimulus a ‘serious try’
https://www.cnbc.com/2020/09/29/stock-market-futures-open-to-close-news.html
Airlines are hours away from cutting more than 30,000 jobs without billions more in federal aid
https://www.cnbc.com/2020/09/30/fed...ghtving-way-for-more-than-31000-job-cuts.html
https://www.cnbc.com/2020/09/29/stock-market-futures-open-to-close-news.html
Airlines are hours away from cutting more than 30,000 jobs without billions more in federal aid
https://www.cnbc.com/2020/09/30/fed...ghtving-way-for-more-than-31000-job-cuts.html
I don't understand why airlines need to be bailed out. They make millions in profit charging for food, drinks, seat location (or just seats in general) and luggage fees. The Government should make it a no interest loan instead of a bail out.
The airlines got crushed in the 2nd and 3rd quarter this year - big losses. I agree with the loans, but if the price is tens (or hundreds) of thousands of layoffs, or potential bankruptcies (don't have to pay loans back), then the gov't is in a tough spot.
If only the strong survive because of the virus, then less competition, monopoly, higher costs to flyers, etc.
If only the strong survive because of the virus, then less competition, monopoly, higher costs to flyers, etc.
Bullitt
Well-known member
Can the world really afford to have airlines disappear? There will be a day when we'll look back and say what were we thinking.... And we're getting closer to that point every day.
I think the term bailout angers people because 2008 is fresh in many of our minds. Banks were all on the wrong side of massive bets and then got a re-do despite the world bearing the brunt of the impact.
Airlines were a mess before the panics and shutdowns happened no doubt, but they didn't cause this to happen like banks did in 2008. I'll also add that airlines need to get it together. The missed connections, lost luggage, pile-ups of people trying to be first on the plane to cram the overhead compartments - it all needs to stop.
I think the term bailout angers people because 2008 is fresh in many of our minds. Banks were all on the wrong side of massive bets and then got a re-do despite the world bearing the brunt of the impact.
Airlines were a mess before the panics and shutdowns happened no doubt, but they didn't cause this to happen like banks did in 2008. I'll also add that airlines need to get it together. The missed connections, lost luggage, pile-ups of people trying to be first on the plane to cram the overhead compartments - it all needs to stop.
The S&P 500 futures dropped another 12 points just after the closing bell.
Stocks cut gains in the final hour after Mnuchin-Pelosi meeting doesn’t result in deal yet
https://www.cnbc.com/2020/09/29/stock-market-futures-open-to-close-news.html
Stocks cut gains in the final hour after Mnuchin-Pelosi meeting doesn’t result in deal yet
https://www.cnbc.com/2020/09/29/stock-market-futures-open-to-close-news.html
weatherweenie
Well-known member
Hope Hicks, one of Trump's closest advisors, who has travelled with Trump in the past week, has tested positive for Covid-19.
ravensfan
Well-known member
Fear not! If AOC has a say in the matter, we will all be going back to traveling by horse and buggy :nuts:
James48843
Well-known member
Dang- S&P futures tumbling just now- down almost 2% on news that Trump caught the Covid.
It’s gonna be an ugly day.
It’s gonna be an ugly day.
weatherweenie
Well-known member
- Nonfarm payrolls rose by 661,000 in September, lower than the 800,000 Dow Jones estimate.
- The unemployment rate was 7.9%, better than the 8.2% estimate.
- This is the final jobs report before the November election.
weatherweenie
Well-known member
Trump calls off stimulus negotiations until after the election.
Bullitt
Well-known member
I don't have a problem with that. I think we'll see soon enough that Q2 2020 was the bottom of the "recession" (even though we're probably still in a depression).
weatherweenie
Well-known member
bmneveu
Well-known member
This dropped right after the close too.
https://www.cnbc.com/2020/10/06/hou...azon-alphabet-apple-enjoy-monopoly-power.html
https://www.cnbc.com/2020/10/06/hou...azon-alphabet-apple-enjoy-monopoly-power.html
nnuut
Moderator | TSP Legend
Trump is just making another DEAL.
weatherweenie
Well-known member
Bullitt
Well-known member
Yep. The art of the deal.
There's a right way and wrong way to stimulate the economy and that recent proposal was not the right way. The first thing to do is up open it up, even if we need to wear masks, then see where we're at with GDP numbers.
Struggling? So tired of hearing that one too. I got a postcard in the mail last week from Amazon looking for delivery and warehouse workers. Here you have the most successful company in the history of Earth and they are understaffed and looking for bodies.
And not for nothing, I've been hearing about "how bad the economy is" since around 2008. It hasn't let up and doesn't matter who's in charge.
AMZN, GOOGL, FB, AAPL: They'll be in the crosshairs in the next four years no matter who gets elected in November.
weatherweenie
Well-known member
Fed Chairman Jerome Powell, a Trump appointee and one of the nation’s top economic officials, said just hours before the president’s tweets that the U.S. economic outlook could deteriorate again if Congress couldn’t reach a deal to release more relief.
Failing to reach a deal could “lead to a weak recovery, creating unnecessary hardship for households and businesses” and thwart a rebound that thus far has progressed more quickly than expected.
“By contrast, the risks of overdoing it seem, for now, to be smaller,” Powell added in remarks to the National Association for Business Economics. “Even if policy actions ultimately prove to be greater than needed, they will not go to waste. The recovery will be stronger and move faster if monetary policy and fiscal policy continue to work side by side to provide support to the economy until it is clearly out of the woods.”
Failing to reach a deal could “lead to a weak recovery, creating unnecessary hardship for households and businesses” and thwart a rebound that thus far has progressed more quickly than expected.
“By contrast, the risks of overdoing it seem, for now, to be smaller,” Powell added in remarks to the National Association for Business Economics. “Even if policy actions ultimately prove to be greater than needed, they will not go to waste. The recovery will be stronger and move faster if monetary policy and fiscal policy continue to work side by side to provide support to the economy until it is clearly out of the woods.”
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