Happy Monday Everyone. Today is July 27th and U.S. stock futures rose early Monday as investors braced for a big week of corporate earnings and lawmakers continued coronavirus stimulus negotiations. The new stimulus package will include a $1200 check and a continuation of the eviction moratorium. The world’s biggest coronavirus vaccine study begins and Google has mandated that their employees work from home until at least 2021. U.S. core capital goods orders beat expectations in June and we see how the virus is changing the way consumers shop across the globe.
U.S. stock futures rose early Monday as investors braced for a big week of corporate earnings and lawmakers continued coronavirus stimulus negotiations. Dow Jones Industrial Average futures rose 58 points, or about 0.15%. The move pointed to a gain of about 15 points at the open. S&P 500 futures added 0.3%. Nasdaq 100 futures gained 0.7%.
Retailers were already under pressure prior to the pandemic, struggling to adapt to a growing online world and facing lower margins amid a plethora of competitors. The Covid-19 outbreak has accelerated some of these trends. However, as lockdowns start to lift, many consumers in Europe have returned to stores, with some people happy to wait for hours before being allowed inside.
“There’s a $1,200 check coming, that’s going to be part of the new package,” White House economic advisor Larry Kudlow said in an interview on CNN. Kudlow also said the administration plans to lengthen the federal eviction moratorium. The eviction moratorium expired Friday and the $600 boost in weekly unemployment benefits stopped over the weekend.
The world’s biggest coronavirus vaccine study begins, a U.S. trial that will include 30,000 people to see if the shots really work
The world’s biggest Covid-19 vaccine study got underway Monday with the first of 30,000 planned volunteers helping to test shots created by the U.S. government. There’s still no guarantee that the experimental vaccine, developed by the National Institutes of Health and Moderna, will really protect.
Google will keep its employees home until at least next July, people familiar with the matter said, making the search-engine giant the first major U.S. corporation to formalize such an extended timetable in the face of the coronavirus pandemic. The move will affect nearly all of the roughly 200,000 full-time and contract employees across Google parent Alphabet Inc., and is sure to pressure other technology giants that have slated staff to return as soon as January.
New orders for key U.S.-made capital goods increased more than expected in June and shipments accelerated. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, jumped 3.3% last month, the Commerce Department said on Monday. The gains were unlikely to avert a historic plunge in business investment and the economy in the second quarter,