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Stocks fell for a second straight day yesterday after comments from Treasury Secretary Steven Mnuchin dampened expectations of a coronavirus stimulus deal being reached before the Nov. 3 presidential election.

United Airlines posted a wider-than-expected third quarter loss as the coronavirus pandemic continued to hammer air travel demand, but the carrier trimmed their cash burn.  The Chicago-based carrier swung to a net loss of $1.8 billion in the three months ended Sept. 30, from a $1 billion profit a year ago.


The share of homeowners four months behind on their mortgage payments hit a 21-year high in August, according to the latest figures from CoreLogic.  The 120-day delinquency rate stood at 1.4%, the highest level since CoreLogic started tracking delinquencies in 1999.The rate includes those homeowners who declared forbearance as a result of the CARES ACT.


With people continuing to ditch mass transit during the pandemic, it’s a good time to be in the business of selling cars online.  Car-selling platform Edmunds said that third quarter sales of new cars and trucks rose 31% from the second quarter. Sales from major automakers such as General Motors, Fiat Chrysler and Hyundai all improved markedly in the third quarter from the second quarter.

 

With Northwest Quadrant Wealth Management I’m Tyler Simones

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