Page 31 - Us Economy
US jobless benefit cut-off pushes millions to financial cliff-edge
Emergency unemployment benefits of roughly 14 million ended on Saturday
 "US jobless benefit cut-off pushes millions to financial cliff-edge")
Unemployment benefits for millions of Americans in limbo as Trump rages
US President's refusal to sign a bipartisan package as he demands larger coronavirus relief checks could also force a federal government shutdown.
 "Unemployment benefits for millions of Americans in limbo as Trump rages")
Donald Trump refuses to sign relief Bill, seeks $2,000 stimulus payment
Threat throws into turmoil a bipartisan effort by Congress to help millions
 "Donald Trump refuses to sign relief Bill, seeks $2,000 stimulus payment")
US consumer spending drops 0.4% in Nov, first decline since April
US consumer spending fell 0.4% in November, the first decline since April, as Americans confronted a newly resurgent virus.
 "US consumer spending drops 0.4% in Nov, first decline since April")
US consumer confidence stumbles; Covid-19 sapping economic momentum
The Conference Board's consumer confidence index dropped to a reading of 88.6 this month, the lowest since August, from 92.9 in November
 "US consumer confidence stumbles; Covid-19 sapping economic momentum")
US slightly upgrades GDP estimate for Q3 to 33.4 per cent growth
The US economy expanded at a 33.4 per cent annual pace from July through September, the Commerce Department said, delivering the last of three estimates on the economy's third-quarter performance.
 "US slightly upgrades GDP estimate for Q3 to 33.4 per cent growth")
US Congress unveils $2.3 tn government spending, Covid-19 relief package
The US Congress unveiled a $2.3 trillion spending package hours before it is expected for a passage in both chambers, funding the government through the end of the fiscal year
 "US Congress unveils $2.3 tn government spending, Covid-19 relief package")
S&P 500 pares losses as US stimulus passage expected; Tesla falls 4.6%
The $900 billion package, expected to pass on Monday, includes unemployment aid and steers money to small businesses, airlines, transit systems and vaccine distribution.
 "S&P 500 pares losses as US stimulus passage expected; Tesla falls 4.6%")
$900-billion US stimulus includes $600 checks; $15 billion in airline aid
The support is part of $45 billion earmarked for the transportation sector in a $900 billion package for COVID-19 relief.
 "$900-billion US stimulus includes $600 checks; $15 billion in airline aid")
US Congress reaches $900 billion deal to aid economy hit by Covid-19
Top Capitol Hill negotiators sealed a deal on an almost $1 trillion Covid-19 economic relief package
 "US Congress reaches $900 billion deal to aid economy hit by Covid-19")
US long-term mortgage rates fall to record low for 15th time this year
US long-term mortgage rates declined this week to record low levels for the 15th time this year against the backdrop of an economy ravaged by the pandemic
 "US long-term mortgage rates fall to record low for 15th time this year")
US retail sales fall more than expected in Nov dragged by Covid-19 surge
US retail sales fell more than expected in November, likely weighed down by raging new Covid-19 infections and decreasing household income
 "US retail sales fall more than expected in Nov dragged by Covid-19 surge")
Global stocks look for Covid vaccine-led recovery, US fiscal stimulus
E-Mini futures for the S&P 500 responded by rising 0.5%, while March Treasury bond futures slipped 4 ticks. EUROSTOXX 50 futures added 0.6% and FTSE futures 0.3%
 "Global stocks look for Covid vaccine-led recovery, US fiscal stimulus")
Elon Musk's Tesla emerges as a new favourite among small investors in India
Indians are placing bigger-than-ever bets on US stocks this year as the American stock market has recovered faster than markets in India and other emerging nations
 "Elon Musk's Tesla emerges as a new favourite among small investors in India")
Trump administration proposes new $916 billion offer for Covid-19 relief
The Trump administration proposed a $916 billion coronavirus relief package, after congressional Democrats shot down a suggestion for a pared-down plan from the Senate's Majority Leader McConnell
 "Trump administration proposes new $916 billion offer for Covid-19 relief")
Asian stocks touch record high on prospect of large US economic package
Asian shares scaled a record high on the growing prospect of a large US economic package, while hopes that vaccine rollouts will boost the global economy underpinned investor sentiment
 "Asian stocks touch record high on prospect of large US economic package")
What Janet Yellen must do
First on the agenda will be recovery from the pandemic. With multiple vaccines in sight, the immediate task is to build a bridge from here to the post-crisis economy
Trump threatens to veto defense bill if it doesn't end tech firms' immunity
President Donald Trump is threatening to veto a defense policy bill unless it ends protections for internet companies that shield them from being held liable for material posted by their users. On Twitter Tuesday night, Trump took aim at Section 230 of the 1996 Communications Decency Act, which protects companies that can host trillions of messages from being sued into oblivion by anyone who feels wronged by something someone else has posted whether their complaint is legitimate or not. Trump called Section 230 a serious threat to our National Security & Election Integrity, adding, Therefore, if the very dangerous & unfair Section 230 is not completely terminated as part of the National Defense Authorization Act (NDAA), I will be forced to unequivocally VETO the Bill. Trump has been waging war against social media companies for months, claiming they are biased against conservative voices. In October he signed an executive order directing executive branch agencies to ask ...
 "Trump threatens to veto defense bill if it doesn't end tech firms' immunity")
US factory activity slows in Nov as coronavirus infections accelerate
US manufacturing activity slowed in November, with new orders retreating from their highest level in nearly 17 years, as a resurgence in Covid-19 cases across the nation kept workers at home
 "US factory activity slows in Nov as coronavirus infections accelerate")
US airlines to get $17 bn for 4 months of payroll aid under Covid relief
US airlines would receive $17 billion for four months of payroll support under a new $908 billion bipartisan Senate Covid-19 relief proposal, staffers for two US Senators said
 "US airlines to get $17 bn for 4 months of payroll aid under Covid relief")
