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The hope that US President Donald Trump to combat the virus, a further trillion US Dollar on infrastructure spending could follow pumps in the domestic economy, drove investors back into the market. The start of the Rally was already fallen on the previous day, as the Dow had saved to the lowest level since the end of may to Plus. Additional business assistance from the US Central Bank, the Fed, had stirred up economic hopes.
Powell’s speech in focus
The ailing US economy can recover, according to the Central Bank, the Fed only if the citizens are convinced of the containment of the Corona pandemic. According to Fed Chairman Jerome Powell said on Tuesday, in a semi-annual testimony before the Congress. He said in the Video conference, direct aid for households and firms could make all the difference, to limit the long-term damage to the economy. To the start of the week, the Fed started her as a “Main Street Lending Facility” – known program with a total volume of 600 billion dollars. It is intended to help companies with up to 15,000 employees, or a turnover of less than five billion dollars to survive the crisis better.
US retail sales recovered slightly from corona shock
The US retailer with the gradual decay of the corona of crisis, more money in the cash register. They took in may percent, 17.7 percent more than in the previous month, as the Commerce Department in Washington announced on Tuesday. In particular, the car industry saw a sales increase of 44.1 percent in Cars and vehicle parts. In April, the US retailer had suffered a violent burglary – revised according to the Figures of 14.7 percent. Economists polled by Reuters had expected for the month of may only, with an increase of 8.0 percent. Private consumption makes up more than two-thirds of U.S. economic output.
Editorial finanzen.net / Dow Jones Newswires / dpa-AFX / Reuters
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