American consumer confidence softened in leading economic indicators released this morning. Housing showed continued strength; prices rose as city-dwellers flee to the suburbs to escape the virus, and Democrat violent policies.
Multiple social media and legacy media outlets were caught censoring positive news on the use of HCQ to combat the virus. This is a medical crime against Americans. There is no other way to say it.
The equity markets opened soft on poor earnings from McDonalds and 3M.
The next coronavirus relief package seems to have hit a snag in Congress and Democrats and Republicans can’t agree on the terms. Dems want to give away the store and pay off friends, while the GOP wants to reduce incentives not to go back to work, while getting aid to those in need.
The Federal Reserve has extended its emergency lending programs until the end of the year.
S&P Case-Shiller Home Price Indices (YoY) (May) printed at 3.7% vs 4.0% consensus estimate.
Richmond Fed Manufacturing Index (Jul) printed at 10.
Consumer Confidence printed at 92.6 v 95 estimate.
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