Investors Need to See a Stimulus Bill Get Done
The Senate Republicans are pushing for a coronavirus bill that totals around $1 trillion, while Democrats are pushing for a multi-trillion dollar bill.
Senate Republicans have ironed out their differences with the White House on a fifth coronavirus relief package, The Wall Street Journal reported on Thursday, and negotiations with Democrats will begin just days before a $600 weekly supplement to unemployment benefits expires on July 31.
This follows the Labor Department's release Thursday that first-time claims for unemployment benefits rose to 1.416 million in the week ended July 18, as U.S. employers retrenched on their efforts to reopen and rehire amid renewed coronavirus flare-ups in various states and cities. Economists had expected claims of about 1.3 million.
And tensions between the U.S. and China are rising.
U.S. Secretary of State Mike Pompeo, in a speech late Thursday, called China's Communist Party a "Frankenstein" created by the detente policies of former President Richard Nixon. Pompeo attacked Beijing's record on trade, security and human rights.
China said the speech was "filled with ideological bias" while it announced the closure of the U.S. consulate in the southwestern city of Chengdu, in response to Washington's shuttering of the Chinese consulate in Houston.
So, what do investors need to see in a stimulus bill at this point?
Jeff Marks, senior portfolio analyst with Action Alerts PLUS, weighs in.
You can follow Katherine Ross on Twitter at @byKatherineRoss.