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Morning Commentary

Bracing from Avalanche of News

By Charles Payne, CEO & Principal Analyst
7/27/2020 9:09 AM

Looking for the GOP stimulus plan today, as report suggest there will be special attention to families and children.

The sticky point is Mnuchin’s plan to limit unemployment benefits to 70% of paychecks.  I’m not sure if they are basing this on median or average incomes. 

If it’s the latter, then the change from current benefits with $600 from the federal government is limited for states with lower max unemployment benefits.

Mnuchin Plan

Max State UI

Average Income

70% Plan

Weekly Loss

Alabama

$275

$51,347

$691

-$184

Arizona

$240

$57,422

$773

-$67

Florida

$275

$52,728

$710

-$165

Geogia

$365

$58,280

$785

-$180

Louisana

$247

$53,095

$715

-$132

Michgan

$235

$58,132

$783

-$52

Tennessee

$275

$59,121

$796

-$79

North Carolina

$350

$56,343

$758

-$192

Kentucky

$552

$50,701

$683

-$469

 

Mnuchin Plan

Max State UI

Median Income

70% Plan

Weekly Loss

Alabama

$275

$33,740

$454

-$421

Arizona

$240

$37,020

$498

-$342

Florida

$275

$34,560

$465

-$410

Geogia

$365

$35,950

$484

-$481

Louisana

$247

$33,390

$449

-$398

Michgan

$235

$37,620

$506

-$329

Tennessee

$275

$34,890

$470

-$405

North Carolina

$350

$35,750

$481

-$469

Kentucky

$552

$34,650

$466

-$686

 

Portfolio Approach


 

Today’s Session

There is so much happening this week. I suspect the market trades in a narrow range until midweek.

This morning, durable goods came in at 7.3% in June against consensus of 5.4%.

June Durable Goods

United States Durable Goods Orders

Business Investment Soared

Equities have begun to drift ahead of the open.  Stocks are not down enough to lure aggressive buyers, but sellers are reluctant to unload here and would need to see more pressure.


Comments
Thanks for your info

Harry Wyman on 7/27/2020 10:03:46 AM
CHARLES, I been a fan since BULLS &BEARS, CAVUTO, VARNEY. I appreciate your ETF analyis as I am a timid investor and am mostly in mutual funds sectors. Nick

NICK CIFFONE on 7/27/2020 7:11:01 PM
 

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