The US Extends Land Border Restrictions on COVID-19 Fears
The US has extended its closure of land borders with Canada and Mexico for non-essential travel until at least April 21, according to Reuters. The travel ban follows an assessment…
U.S. Faces a Litmus Test in Strategy with China Amid High Decoupling Costs
America will incur a one-time loss of about $500 billion in GDP if U.S. companies reduce foreign direct investment in China by half, according to Bloomberg. Applying a 25% tariff…
US Stock Market Takes a Pause to Observe Presidents’ Day
Traders will get an extended weekend to observe Washington’s Birthday, also known as President’s Day, celebrated on the third Monday of February. The New York Stock Exchange and Nasdaq will…
Senate Passes Budget Resolution amid Potential Republican Dissent
On Wednesday the U.S Senate approved a budget resolution, allowing the passage of a $1.9 trillion coronavirus relief bill. According to CNBC, the House chamber will have to vote again…
U.S. Election Financing. Where did the Tech Billionaires Donate for the 2020 Polls?
About 98% of political contributions from the tech firms went to Democrats, reports CNBC. The CEOs of Asana, Twilio, and Netflix were among the biggest contributors, all targeted Democratic groups…
U.S. PMI Moves to the Highest Level since January 2019
U.S. PMI in October was 53.4, up slightly from September’s 53.2 in line with the flash estimate of 53.3, representing the sharpest rise since November 2019, according to HIS Markit…
The U.S. Senate Could Matter More for Markets than the President
Analysts believe that the Senate will be more important in determining the winners and losers in markets given its ability to advance or block the next president’s agenda, according to…
More Job Losses as Exxon Prepares to Axe 14,000 Global Positions, 1,900 in the U.S
Exxon will cut 14,000 jobs globally and 1,900 in the U.S. to reduce employee numbers by 15% as the pandemic hurt energy demand and prices, according to Reuters. The job…
U.S. Initial and Continuing Jobless Claims Fall below Expectations
U.S. initial jobless claims for the week ending October 24 was 751,000, a 40,000 fall from the previous week's revised level, and below expected 770,000, according to the Department of…
U.S. Stocks Slips, Follows their European Counterparts on Coronavirus Fears
U.S. stocks declined on Wednesday as investors became worried the recent rise in coronavirus infections could slow down global economic recovery. Dow Jones Industrial Average fell 3% or 823 points,…
How Top Money Managers are Trading the U.S.-China Superpower Tensions
U.S. China trade tensions have sparked market caution among top fund managers. Mark Mobius, Cathie Wood, and eight others have shared their top picks and predictions as the tensions escalate,…
U.S. Consumer Confidence Index falls in October 2020
The U.S. Consumer Confidence Index in October was 100.9, down from September’s 101.3 and below expected 102.0, according to the CEIC press release. The fall in consumer confidence reflects low…