The Monday Mix: Aug. 17 – 23, 2020

hand holding a coffee cup and newspaper

Headlines discussed at LNWM’s Monday morning briefing:

The S&P 500 and NASDAQ both hit new highs on strong performance by tech stocks, record low interest rates, and prospect for Covid-19 vaccine by year-end.

US home prices hit a new high in July on average ($304,100), as low inventory met with pent-up demand; a key index for manufacturing and services is now in full expansion mode.

Roughly 1.1 million more Americans filed for unemployment benefits last week, while the total  number collecting benefits fell to 14.8 million from a high of 25 million in May.

Eurozone manufacturing activity seems to be slowing based on preliminary estimates for August, with a reading of 51.6 on a key index vs. 54.9 in July.

China’s $1.4 trillion corporate debt market could see a significant rise in defaults this year as government support subsides on economic rebound from Covid-19.


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