Tag Archives: Federal Reserve

Financial Daily Dose 6.26.2020 | Top Story: Federal Reserve Limits Bank Payouts and Suspends Share Buybacks

BY: Juvian Hernandez | June 26, 2020

The Federal Reserve has “temporarily restricted shareholder payouts by the biggest banks,” preventing stock buybacks and barring increases in dividend payments in the third quarter. NYTimes and Bloomberg Market Snapshot: S&P 500 fell 1.7% to 3,030.13; Dow Jones Industrial Average decreased 2.1% to 25,199.81; Nasdaq Composite Index declines 1.6% to 9,851.85; Bloomberg Dollar Spot Index climbed 0.4% to … Continue reading

Financial Daily Dose 5.22.2020 | Top Story: U.S. Sees 2.4 Million More Unemployment Claims and Concerns Over Undercounting

BY: Michael D. Reif | May 22, 2020

This week’s latest initial unemployment filings numbered 2.4 million, a “slight drop-off in the wave of historically high weekly filings” since the pandemic hit the U.S. economy. Don’t get too excited, though. Continuing benefit payouts are in the 25 million range as states struggle to keep up with the surge in claims since early March … Continue reading

Financial Daily Dose 5.19.2020 | Top Story: US Markets Surge on Hopes for Covid-19 Vaccine

BY: Michael D. Reif | May 19, 2020

Optimism over promising results for a coronavirus vaccine from Moderna helped drive stocks up on Monday after a rough go of it last week – WSJ and NYTimes and Bloomberg and MarketWatch Inside sources suggest that the DOJ is preparing to file “antitrust charges against Google as early as this summer . . . in … Continue reading

Financial Daily Dose 5.12.2020 | Top Story: Fed Launches ETF Buying in Effort to Aid Credit Markets

BY: Michael D. Reif | May 12, 2020

For the first time, the Federal Reserve system will begin buying corporate bonds—all part of the central bank’s efforts to “support the economy and financial system in the coronavirus crisis.” The NY Fed will kick things off with hundreds of billions in ETFs, which it views as “a fast way to direct money rapidly into … Continue reading

Financial Daily Dose 4.30.2020 | Top Story: Fed Holds Rates Near Zero, Pledges to Use All of its Tools to Protect US Economy

BY: Michael D. Reif | April 30, 2020

The Fed closed out its April Open Markets Committee by holding rates steady at nearly zero but also pledging to “use its ‘full range of tools’ to insulate the economy as coronavirus lockdowns sap economic growth and throw millions out of work.” That strong reassurance helped drive markets up even as the US revealed on … Continue reading

Financial Daily Dose 4.28.2020 | Top Story: PPP Funding Replenished, but Applications Beset by Tech Glitches

BY: Michael D. Reif | April 28, 2020

The PPP is again flush with cash but also full of problems. Yesterday, that took the form of a Small Business Administration’s system for processing loan applications crashing within the first hours that the program reopened – NYTimes and WSJ and Bloomberg Today’s installment of PPP business backlash focuses on startups, some of whom have … Continue reading

Financial Daily Dose 3.20.2020 | Top Story: Fed Doubles Down on QE Commitment and Markets Hold Steady for a Change

BY: Michael D. Reif | March 20, 2020

The Federal Reserve is adding to its commitment to buy government bonds, announcing on Thursday that it would also buy up $150 billion in Treasury securities—all of which confirms the central bank’s commitment to a return of QE on a scale not seen since before 2010 – WSJ Checking in with markets only at the … Continue reading

Financial Daily Dose 3.19.2020 | Top Story: Second COVID-19 Relief Package Now Law But Market Chaos Remains

BY: Michael D. Reif | March 19, 2020

Late action by the Senate to pass a second COVID-19 relief package (that the White House soon signed) may [key word may] help markets yo-yo back upward today after a dismal Wednesday driven by crazy-low oil prices (West Texas Intermediate at just $21/barrel) and a spate of automaker factory closings – NYTimes and WSJ and … Continue reading

Financial Daily Dose 3.18.2020 | Top Story: Markets Gain on Stimulus Promise as Volatility Rules

BY: Michael D. Reif | March 18, 2020

Volatility’s the name of the game these days on Wall Street. So what was down on Monday was up (a bit, at least) yesterday, although the basics of the situation haven’t improved at all – NYTimes and WSJ and Bloomberg A good chunk of that upswing likely came from moves by the White House and … Continue reading

Financial Daily Dose 3.16.2020 | Top Story: U.S. Stocks Continue to Tumble Amid COVID-19

BY: Juvian Hernandez | March 16, 2020

U.S. stocks continue to tumble, sinking by “8.1% at the open, triggering a 15-minute trading halt;” “Brent crude sank below $30 a barrel;” treasuries surged despite major moves from the Federal Reserve; and market sentiment is as fearful as it was in 2009. – Bloomberg and NYT The Fed will buy at least $700 billion in bonds … Continue reading