{"id":3893,"date":"2020-06-14T13:47:17","date_gmt":"2020-06-14T17:47:17","guid":{"rendered":"https:\/\/envisionco.net\/?p=3893"},"modified":"2020-06-14T13:47:17","modified_gmt":"2020-06-14T17:47:17","slug":"week-ending-6-12-2020","status":"publish","type":"post","link":"https:\/\/envisionco.net\/?p=3893","title":{"rendered":"Week Ending 6\/12\/2020"},"content":{"rendered":"

MARKET RECAP<\/strong><\/p>\n

Stocks fell hard, dropping 4.90% in the US and 3.62% outside the US. On Thursday, stocks fell by 5.90% and the Dow dropped by 7%, on a surge in virus cases and comments by the Fed indicating a long recovery in the job market.<\/p>\n

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Meanwhile, Hertz (HTZ) advanced by 100% for the week, breaking $6 at one point, even though the company had previously filed for bankruptcy. It would be normal for a bankrupt company to sell at or very close to $0, but this indicative of the new wave of day traders that speculate on anything that might move in price regardless of the fundamentals.<\/p>\n

The Fed announced that they would keep interest rates at very low levels for years and were studying ways to help the economy.<\/p>\n

The National Bureau of Economic Research made it official, stating that the US entered a recession in February, ending a 128-month expansion. While the announcement was no surprise, when it might end is still up in the air. So far Congress has spent $3.3 trillion to support the economy. The Congressional Budget Office said it would take a good part of the decade to recover and they are looking for a $3.7 trillion dollar deficit this year. The World Bank said that they expect the global economy to shrink by 5.2% this year.<\/p>\n

SCOREBOARD<\/strong><\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

MARKET RECAP Stocks fell hard, dropping 4.90% in the US and 3.62% outside the US. On Thursday, stocks fell by 5.90% and the Dow dropped by 7%, on a surge in virus cases and comments by the Fed indicating a … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1893,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3893","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/3893","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/users\/1893"}],"replies":[{"embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3893"}],"version-history":[{"count":3,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/3893\/revisions"}],"predecessor-version":[{"id":3898,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/3893\/revisions\/3898"}],"wp:attachment":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}