Secretary Mnuchin on expectations for restarting US economy, new service for tiny businesses
Treasury Secretary Steven Mnuchin, member of a president’s coronavirus charge force, joins Chris Wallace on ‘Fox News Sunday.’
U.S. batch futures rose on Sunday night, after opening somewhat lower, as a new turn of money heads to tiny businesses strike tough by the coronavirus.
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President Trump signed the $484 billion coronavirus relief package that includes $310 billion for a Paycheck Protection Program. Lenders are approaching to resume estimate applications on Monday.
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The Dow Jones Industrial Average was aloft by 114 points, while a SP 500 and a Nasdaq Composite were adult 0.4 percent and 0.7 percent respectively as of 11:45 p.m. ET.
Investors will also be gripping a tighten eye on those vital cities reopening and how fast those internal economies can start to rebound back.
Treasury Secretary Steven Mnuchin told “Fox News Sunday” he is assured a rebound behind will come by early summer.
“I consider as we start to free a economy in May and June, you’re going to see a economy unequivocally rebound behind in July, August, September,” Mnuchin said. “And we are putting in an rare volume of mercantile service into a economy. You’re saying trillions of dollars that’s creation a approach into a economy, and we consider this is going to have a poignant impact,” he said.
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The fall in oil claimed a initial corporate victim, with Diamond Offshore Drilling Inc. filing for bankruptcy protection Sunday.
Oil posted a misfortune week in story after West Texas Intermediate wanton futures incited disastrous for a initial time in history. On Sunday, oil was modestly reduce trade around $15.56 per barrel.
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Through final week, bonds fell opposite a house with a Dow dropping 1.93 percent, while a SP 500 and a Nasdaq mislaid 1.32 percent and 0.18 percent respectively.
As for a week ahead, gain from marquee companies will be in concentration including 3M, Caterpillar, Google and Starbucks on Tuesday. Tesla on Wednesday and Amazon and Apple on Thursday to name a few.
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