The market opened higher today, thanks to solid retail earnings and optimism on Wall Street about reopening the economy—with stocks shrugging off Trump’s latest criticism of China over its handling of Covid-19 by skleb1234
, which both saw same-store sales jump in the first quarter, thanks to heightened demand amid the pandemic. The stocks are up by 4.9% and 0.7%, respectively.China about its handling of coronavirus, blaming the country’s “incompetence” for “this mass Worldwide killing.”that he could terminate the phase one trade deal, which he has threatened to do in the past. on economic growth and unemployment on Tuesday, predicting a 38% drop in second-quarter GDP as 26 million Americans remain without a job.
before the Senate the same day, Treasury Secretary Steven Mnuchin warned of the “risk of permanent damage” if state economies remain closed for too long, while Federal Reserve Chairman Jerome Powell said that more policy action may be necessary to offset the long-lasting economic damage caused by unemployment.The market rally on Wednesday comes amid a volatile week so far on Wall Street.
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