The Consumer Electronics Show kicks off today, the big industry event for consumer technology companies that's normally held in Las Vegas. The show is always full of dazzling displays and latest innovations, but it will take place virtually this year due to the coronavirus pandemic.
The China crackdown seen on Wall Street is extending to the Far East, where Goldman Sachs, JPMorgan, and Morgan Stanley said they will delist 500 Hong Kong-listed structured products linked to China Mobile, China Telecom and China Unicom, as well as local indexes including the Hang Seng Index. Last week, the Office of Foreign Assets Control clarified a November order from President Trump that banned Americans from investing in Chinese companies that the U.S. considers to have links with China's military.
Direct payments have provided a financial lifeline to millions of Americans, but for others, they represent an opportunity to boost their savings. That is thanks to the $2.3T CARES Act and the latest $908B stimulus bill, which provided $1200 and $600 to all Americans making under $75,000 - regardless of their employment and financial situation. Securities trading was among the most common uses - across nearly every income bracket - for the government stimulus checks issued in May, according to software and data aggregation company Envestnet. Americans that earned between $35,000 and $75,000 annually traded stocks about 90% more than the week prior to receiving their stimulus check
With Northwest Quadrant Wealth Management a Registered Investment Advisor I am Josh Fenili.