Weekly Market Recap – September 25, 2020 In the Markets Unemployment remains a focal point of the nation’s economic health. The labor department reported that new applications for jobless benefits rose to 870,000 compared to 866,000 the previous week. For August, the unemployment rate was 8.4%, down from nearly 15% in April. Government reports on

Weekly Market Recap – September 18, 2020 In the Markets Thursday’s Labor Department report stated that initial unemployment benefit claims totaled 790,000 before adjustments for seasonal factors, down from the prior week’s 866,000 tally. It is still four times what it had been before the pandemic led to shutdowns and layoffs back in March. As

Weekly Market Recap – September 11, 2020 In the Markets The unemployment claims number held steady at 884,000, unchanged from the revised figure for the previous week, which is a sign that the US recovery might be losing steam. The Bureau of Labor Statistics reported on Friday that the cost of goods and services rose

Weekly Market Recap – August 28, 2020 In the Markets US employers added 1.4 million jobs in August, down from 1.7 million in July, lowering the number to 8.4% of workers unemployed. 881,000 new jobless benefit filings were reported on Thursday. The Congressional Budget Office stated that the 2020 budget deficit would be the greatest

Weekly Market Recap – August 28, 2020 In the Markets Initial jobless claims were above 1 million again (1,006,000), and 35 states have been approved for the enhanced unemployment benefit of $300 per week that was authorized by executive order on August 8th. A Category 4 hurricane, Laura, delivered the strongest landfall in Louisiana in

Weekly Market Recap – August 21, 2020 In the Markets The homebuilding sector is emerging as one of the few strongholds in an economy battered by the pandemic. Housing starts increased by 22.6%, the largest gain since October 2016. Apple became the first US company to reach a $2 trillion valuation. New jobless claims unexpectedly

Weekly Market Recap – August 14, 2020 In the Markets The US unemployment claims figure came in at less than one million (963,000) for the first time in 21 weeks. Core retail sales rose 1.9%, which was higher than the 1.2% expectation; sales at stores and restaurants have now risen for three straight months after

Weekly Market Recap – August 7, 2020 In the Markets US employers added 1.8 million jobs in July. The unemployment rate decreased to 10.2%. The new jobless benefit filings for the prior week fell to 1.2 million claims. Less than half of the job loss caused by the pandemic has been recovered. Congress made no progress

Weekly Market Recap – July 31, 2020 In the Markets According to a Bureau of Economic Analysis (BEA) release on Thursday, the US economy contracted at a record rate of 32.9% in the second quarter of 2020. The weekly jobless report showed another increase, with 1.43 million Americans filing new claims. On Friday, Fitch announced

Weekly Market Recap – July 24, 2020 In the Markets The week started with the European Union agreeing to a €1.6 trillion pandemic recovery strategy based on the sale of hundreds of billions of common debt. On Wednesday, the US abruptly ordered China to close its consulate in Houston, resulting from accusations of espionage. Filings