Headlines discussed at LNWM’s Monday morning briefing:
— Congressional Republicans are proposing an additional $1 trillion in Covid-19 relief vs. $3.4 trillion for Democrats, as extra unemployment benefits run out this week.
— 1.4 million people filed for US unemployment the week of July 18, the 18th straight week above 1 million; 31 million total are collecting unemployment of some type.
— US new home sales jumped nearly 14% in June, the highest increase since July 2007, as low interest rates and demand prop up housing market.
— A key indicator for the US service sector rose 2 points in July to 49.6, with 50 indicating expansion; indicator has been under 50 for six months in a row.
— Tensions between the US and China escalated, after the US closed the Chinese consulate in Houston, and China retaliated by closing the US consulate in Chengdu.
Disclaimer: Clicking on any of the above links will take you away from the LNW web page and to the source page. While we believe the information in these articles is relevant, we cannot guarantee its accuracy or completeness.