Today is Wednesday, May 27 and stocks are set to rally again today on optimism about the economy reopening. We are also reading that mortgage demand from homebuyers is showing an unexpectedly strong and quick recovery and that Congress will probably have to pass another coronavirus stimulus bill. In addition, we see that 14% of Americans with retirement savings have already tapped into those funds and we read about some ways that airports might change for the better as a result of the pandemic.
U.S. stock futures pointed to more gains at Wednesday’s open on optimism about the reopening of the economy. Shares of airlines and cruise lines led gains in the premarket.
Mortgage demand from homebuyers shows unexpectedly strong and quick recovery, as applications spike 9% from a year ago
It’s not as if the coronavirus pandemic has gone away, but after a sharp pullback, homebuyers are now piling back into the housing market much faster than expected. Mortgage applications to purchase a home rose 9% last week from the previous week and from a year earlier.
Congress will “probably” have to pass more legislation to mitigate the damage from the coronavirus pandemic, Senate Majority Leader Mitch McConnell said Tuesday.
14% of Americans with retirement savings, both working and unemployed, have already tapped into those funds
Whether unemployed or still working, many Americans are looking for extra funds during the coronavirus pandemic. About 14% of those with retirement savings have taken money from accounts such as 401(k)s and individual retirement accounts to meet that need. Another 13% of those with savings say they’re planning to make use of their retirement funds.
Flying this summer is predicted to be more tedious than in the past, but experts say the pandemic is pushing positive change at airports at breakneck speed. What’s on the horizon? Imagine shorter lines, cruising through checkpoints and not touching anything — except for your mobile phone — from your car door to your airplane seat. In fact, the technology to do this already exists.