Stimulus Update (Are the Executive Orders Positive for Stocks?)
What’s in Today’s Report:
- Stimulus Update – Are The Executive Orders Positive for Stocks?
- Is It Time to Chase This Market?
- Weekly Economic Cheat Sheet (Jobless Claims Remain the Key)
- Weekly Market Preview (What’s Next in the Stimulus Saga)
Futures are little changed as markets look past President Trump’s executive orders on economic stimulus following an otherwise quiet weekend.
With stimulus talks again at an impasse, President Trump issued several executive orders over the weekend to provide economic stimulus, including $300/week in federal unemployment and a payroll tax deferral.
But, for a multitude of reasons (legal and otherwise) none of these actions will have any immediate economic impact, so the market still expects a stimulus bill to be passed (but now in the coming weeks, not immediately).
Today there’s one labor market number, JOLTS (E: 5.288M), but that shouldn’t move markets, and instead focus will be on stimulus. Today, the key is that both the Democrats and Republicans signal they are going to continue negotiations on the stimulus bill. If the rhetoric implies the talks have stalled completely, that that will likely pressure stocks.
