Divergent PMI readings between the U.S. and Europe indicate a stark contrast forming between the two continents. While Europe was hit with a wake-up call today, it looks like the American dream has yet again bought itself more time.
With no stimulus bill passed, U.S. Congressional lawmakers have wrapped negotiations, ending in a stalemate. President Trump issued executive orders over the weekend to extend aid—but who and what will be hurting in the mean time?
It seems now that all of Capitol Hill is finally embracing the fact that the virus will not be slowing down any time soon and that they need to implement policies that demonstrate substantial strength in their response to the pandemic.
Critical Market Context for the Week Ahead – U.S. equities inched higher last week despite singularly dismal economic data coming in from all fronts. The S&P 500 closed just over 3% for the week on Friday, marking the biggest two-week rally since 1938.