According to Chase card data, as of mid-October, spending by Baby Boomers was still down 10% from a year earlier, while spending by Millennial and Gen Z cardholders was up 5.1%. Get this delivered to your inbox, and more info about our products and services.
There is still, thankfully, a "reopening" feel to the market overall today.
(It's why the old saying on Wall Street also goes that 'markets love gridlock.'
In retaliation for us cracking down on their reporters earlier this year, apparently.
Got a confidential news tip? "Italy imposes harshest coronavirus restrictions since spring"; it's now closing all bars and restaurants at 6 p.m., suspending certain sports and leisure activities, and switching high schools back to online learning. It's no coincidence that one of the market's worst selloffs came the day after the NBA on March 11th announced a halt to its season. Get this delivered to your inbox, and more info about our products and services.
They got married in 2018 and are parents of two sons. In 2016, when Merrick Garland's appointment was not advanced, the presidency and Senate were controlled by different parties. Relations, he says, "are likely to deteriorate into a bipolar standoff as both the U.S. and China seek to prevent encirclement by the other," no matter who is president. Sounds like a formula for another market collapse.
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On the other hand, we want it to.
Kelly Evans @KellyCNBC. Click here to listen to The Exchange as a podcast. If spending by those younger Americans stops again, watch out. CNBC's Kelly Evans. There's a reason the filibuster exists; as Sen. Cruz has observed, "gridlock in Washington is a feature of our political system, not a flaw." Delta and Alaska Airlines are among the best names in the S&P 500. Add it all up and the U.S. may be more dependent upon itself in the decade to come than it has been for years--if we don't tear ourselves apart first. All Rights Reserved. Published Tue, Sep 8 2020 12:42 PM EDT. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.
CNBC. P.S. Chevron is the second-worst performer in the Dow. Or if you're a smaller firm dependent upon the globalized supply (and demand) chain.
But that is one area, at least, where he doesn't expect the upcoming election to have much impact. Sign up for free newsletters and get more CNBC delivered to your inbox. That's a pretty big shock absorber.
Kelly Evans: The New Disorder. Yes, the Dow is off nearly 500 points today after the weekend's grim news about the case count. 2,535 Followers, 160 Following, 21 Posts - See Instagram photos and videos from Kelly Evans (@realkellyevans)
We'll be hearing a lot from Fed Chair Jay Powell this week with no less than three appearances on Capitol Hill; today he and the Treasury Secretary are testifying about precisely this issue, their Covid response efforts. So long as everyone keeps messily grinding through this God-awful pandemic, we can avoid a return to the dark days of March. Pretty sure the age of disorder has already dawned. Get this delivered to your inbox, and more info about our products and services. American Airlines, Starbucks, and Fox are leading the Nasdaq, as I write this.
So, watch the states--and the NFL.