The following are the headlines discussed at Aldwin Callen's Monday morning briefing:
- Earnings for the S&P 500 are predicted to fall roughly 45 percent in the second quarter of 2020, which ended in June; if true, this will be the largest loss since the fourth quarter of 2008.
- Approximately 18 million Americans are receiving unemployment benefits, and 1.3 million new claims were made in June, both of which were higher than projected.
- Despite substantial stimulus from the Fed and the US government, US inflation appears to be under control for the time being; producer prices fell slightly unexpectedly in June.
- The US dollar fell for the first time in a month, as optimism over new Covid-19 medicines was outweighed by growing infections in the US and worldwide.
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