US Stocks rose slightly yesterday as an advance in the biggest U.S. technology stocks lifted the market into the green from losses earlier in the session.
Massive stimulus to support the U.S. economy through the coronavirus crisis will cause the Treasury to borrow a record $3 trillion this quarter. On top of that borrowing, Treasury also said it anticipates another $677 billion in the third quarter.
J. Crew and Golds Gym filed for bankruptcy protection yesterday with plans to hand over control to their lenders, adding to a list of companies being pushed to the brink by widespread store closures.
The Federal Reserve said it would start buying corporate bond exchange-traded funds starting this week, as it offered up further details on its planned purchases of debt from U.S. businesses. Soon after, the central bank will start purchasing debt issued by companies directly, and from the market. The Fed also said it could buy an entire sale of corporate bonds by itself.
The restaurant purge is already upon us. Over the past two months 5% of Oregon restaurants have permanently closed, according to a survey from the National Restaurant Association. That number could climb to 10% by the end of May.
With Northwest Quadrant Wealth Management, I'm Tyler Simones