Buffalo_Gal Posted September 24, 2020 Posted September 24, 2020 The week after October 1 will be ugly as the airlines plan layoffs. Their government subsidies only promised no-layoffs until that point in time.Jobless claims hold steady. 1
BillStime Posted September 27, 2020 Posted September 27, 2020 “The economy does better under Democrat’s than the Republicans” —Donald Q Trump 1
ALF Posted September 27, 2020 Posted September 27, 2020 On 9/24/2020 at 11:51 AM, Buffalo_Gal said: The week after October 1 will be ugly as the airlines plan layoffs. Their government subsidies only promised no-layoffs until that point in time.Jobless claims hold steady. The airline employees have been receiving pandemic unemployment assistance . When that runs out unemployment rate goes up. Pelosi now has leverage to get aid to states before election especially after tipping SC to right . Need to bail out Gavin and Andrew , Nancy is playing 4D chess 🙂 1 1
Buffalo_Gal Posted September 27, 2020 Posted September 27, 2020 20 minutes ago, ALF said: The airline employees have been receiving pandemic unemployment assistance . When that runs out unemployment rate goes up. Pelosi now has leverage to get aid to states before election especially after tipping SC to right . Need to bail out Gavin and Andrew , Nancy is playing 4D chess 🙂 Yup, she is holding up a bill to help the airline employees. After all, what do people's lives and livelihoods mean to her as long as she can get her hair done and eat ice cream? It is 4D chess.
ALF Posted September 29, 2020 Posted September 29, 2020 House Democrats unveil updated version of the Heroes Act House Democrats on Monday unveiled a $2.2 trillion coronavirus relief package intended to "avert catastrophe for schools, small businesses, restaurants, performance spaces, airline workers and others." Pelosi reportedly spoke with U.S. Treasury of Secretary Steven Mnuchin after Democrats unveiled the plan. The two agreed to speak again Wednesday morning. Pelosi and House Democratic leaders are expected to hold a vote as early as Thursday before going home to campaign ahead of the November election. During an appearance on MSNBC earlier Monday, Pelosi said Mnuchin "has to come back with much more money to get the job done. So I'm hopeful. I'm optimistic." https://www.foxnews.com/politics/house-democrats-unveil-updated-version-of-the-heroes-act
Buffalo_Gal Posted September 30, 2020 Posted September 30, 2020 Companies added better than expected 749,000 jobs amid jump in construction, hospitality, ADP says * Private companies added 749,000 jobs in September vs. the 600,000 Dow Jones estimate. * Construction, trade transportation and utilities and hospitality led the gains. * The report comes two days ahead of the official nonfarm payrolls report, which is expected to show growth of 800,000 in September. </snip> 1 3
Deranged Rhino Posted September 30, 2020 Posted September 30, 2020 4 hours ago, Buffalo_Gal said: Companies added better than expected 749,000 jobs amid jump in construction, hospitality, ADP says * Private companies added 749,000 jobs in September vs. the 600,000 Dow Jones estimate. * Construction, trade transportation and utilities and hospitality led the gains. * The report comes two days ahead of the official nonfarm payrolls report, which is expected to show growth of 800,000 in September. </snip> Add to this the market is closing in again on 28k -- up over 350 today and climbing. If the markets thought Joe had won the debate, they wouldn't be rising today. Seems like Wall Street is still confident in a second Trump term.
Buffalo_Gal Posted October 1, 2020 Posted October 1, 2020 Nearly all the headlines made this seem like a bad thing. This was the one headline that was not "omg! this is awful!" Initial Jobless claims: 837k (actual) vs 850k (estimated) Continued jobless claims: 11.77M (actual) vs 12.225M (estimated) 1
Deranged Rhino Posted October 1, 2020 Posted October 1, 2020 Just now, Buffalo_Gal said: Nearly all the headlines made this seem like a bad thing. This was the one headline that was not "omg! this is awful!" Initial Jobless claims: 837k (actual) vs 850k (estimated) Continued jobless claims: 11.77M (actual) vs 12.225M (estimated) It's so bad the market is ... up. 1
ALF Posted October 1, 2020 Posted October 1, 2020 Claims under the Pandemic Unemployment Assistance program that Congress created to help workers who wouldn't usually be eligible for benefits, such as the self-employed, stood at 650,120. Adding these together, there were 1.4 million total first-time claims for benefits last week, roughly even with the prior week. Thu October 1, 2020 https://www.cnn.com/2020/10/01/economy/unemployment-benefits-coronavirus/index.html
keepthefaith Posted October 1, 2020 Posted October 1, 2020 (edited) 23 hours ago, Deranged Rhino said: Add to this the market is closing in again on 28k -- up over 350 today and climbing. If the markets thought Joe had won the debate, they wouldn't be rising today. Seems like Wall Street is still confident in a second Trump term. This is not a plug for Biden (pun intended) but I don't see his election as bad for markets. Maybe initially through inauguration but once he (Kamala) is in the seat the outrageous deficit spending and low interest rates will endure. Taxes won't get raised significantly unless they flip the Senate. Trump on the other hand if he's re-elected has to IMO begin to address spending (deficits) if he is to leave his party and the country in good shape. Edited October 1, 2020 by keepthefaith 1
The Frankish Reich Posted October 1, 2020 Posted October 1, 2020 (edited) 26 minutes ago, keepthefaith said: This is not a plug for Biden (pun intended) but I don't see his election as bad for markets. Maybe initially through inauguration but once he (Kamala) is in the seat the outrageous deficit spending and low interest rates will endure. Taxes won't get raised significantly unless they flip the Senate. Trump on the other hand if he's re-elected has to IMO begin to address spending (deficits) if he is to leave his party and the country in good shape. Well, the S&P 500 is up about half a percent today ... AFTER the first reliable post-debate poll was released showing Biden with his biggest lead yet. So much for that "markets think Trump won" theory ... And GOOGL up 1.5%, on the increased likelihood that the Trump Administration will be gone, and with it the threat of an antitrust suit? Edited October 1, 2020 by The Frankish Reich
Buffalo_Gal Posted October 2, 2020 Posted October 2, 2020 House approves $2.2T COVID-19 relief bill as White House talks stall <<< the Hill link House Democrats on Thursday approved a massive, $2.2 trillion package of coronavirus relief, lending political cover to party centrists in tough races while putting fresh pressure on Senate Republicans to move another round of emergency aid before the coming elections. The vote arrived only after last-ditch negotiations between Speaker Nancy Pelosi (D-Calif.) and Treasury Secretary Steven Mnuchin on Thursday failed to yield a bipartisan agreement — and it sent a signal that the prospects for such a deal before Nov. 3 have dimmed considerably. The tally was 214 to 207, with at least 17 Democrats opposing the measure, including a surprisingly large number of centrists who were furious that Pelosi had staged a vote on a bill with no chance of becoming law. </snip> Republicans in the Senate and White House both oppose the measure and are backing a proposal that is $600 billion less than the Democratic legislation. </snip> 1
B-Man Posted October 2, 2020 Posted October 2, 2020 14 minutes ago, BillStime said: Good Lord it's like talking with a chimp That WAS the vote that Democrat Representative was objecting to “This is going nowhere... this is just a vote to make people feel good. She is telling you that the Pelosi vote was political nonsense going nowhere, and like a good lemming you are celebrating.
Tiberius Posted October 2, 2020 Posted October 2, 2020 Adding to the downbeat mood in markets, the U.S. Labor Department’s jobs report for September showed the improvement in the labor market was losing momentum. Employers added 661,000 jobs during the month, far fewer than in the previous months of the recovery. Investors had already been on edge about the economy, as lawmakers in Washington failed to reach an agreement on a new economic relief plan. House Democrats on Thursday pushed through a $2.2 trillion stimulus plan that would provide aid to families, schools, restaurants, businesses and airline workers. But Republicans had already panned the relief bill as too large. Shares of major airlines were down as a result. Demand for air travel has declined drastically because of the pandemic, and American Airlines and United Airlines on Thursday began furloughing more than 32,000 workers. The news of Mr. Trump’s health pushed prices for United States Treasury bonds higher, sending yields lower. Gold prices also rose, as did the value of the Japanese yen against other currencies. These are all traditional haven assets that investors buy when they want to reduce risk. https://www.nytimes.com/live/2020/10/02/business/stock-market-today-coronavirus?action=click&module=Spotlight&pgtype=Homepage#jobs-report-september-2020
Buffalo_Gal Posted October 2, 2020 Posted October 2, 2020 Job growth was not as good as hoped for, but still way up from norms. If California would only open up... Anyhooo... Fox actually wrote the "unexpectedly." Unemployment was not expected to be under 8% for a while when this madness started. So, I guess that is unexpected. 🙂 It showed the unemployment rate unexpectedly fell to 7.9% from 8.4%. 1
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