"It’s come back every other time we’ve had a downturn," he said, citing the aftermath of the Great Recession of 2009 to 2010 as an example. The S&P 500 and the Nasdaq Composite once again finished at all-time highs on Wednesday, exceeding the records they set Tuesday.
On top of that, PPP money and other forms of relief have now run out, he said. But it didn't take long for Zoom to catch the blue-chip tech giant in terms of market value.Importantly, this doesn't include claims under the government's other, pandemic-specific programs, such as the Pandemic Unemployment Assistance (PUA) program, for which Continuing jobless claims, which count people filing for benefits for at least two weeks in a row, are expected at a seasonally-adjusted 14 million, about half a million down from the previous report. People "are being digital nomads since they can work from anywhere," Hafner added.But he's confident that business travel will rebound -- eventually.
"The demand is still out there, it's just not for flights.
Financials are in that category, Bitterly said. 11.19am EDT 11:19 Global factory growth hits 21-month high 10.32am EDT 10:32 Climate emergency activists protest at Lloyd's 9.58am EDT 09:58 Brazil suffers record contraction Roundup of social-media reactions on what would have been first two days of Michigan high school football season. If we stall out before even getting back to where we were that would be a huge problem," said Austan Goolsbee, former chairman of the Council of Economic Advisers, on the CNN Business digital live show "If we don't get control of the virus, we will not get back to where we were, not even close," he added.The health of municipal budgets is among Goolsbee's concerns about the recovery. The Federal Reserve’s Beige Book said as much, flagging that “continued uncertainty and volatility related to the pandemic, and its negative effect on consumer and business activity, was a theme echoed across the country.” While that’s bad, it’s yet another reminder that interest rates will stay lower for a longer time.In August, the economy continued on its long trek to recovery. A small buffer might be enough, Bitterly said.Beyond the election, she added, it's also worth looking at what sectors will recover as the economic rebound moves along.
Live news broadcasts are displayed in the player. The S&P gained 1.5% and the Nasdaq climbed nearly 1%, closing above 12,000 points for the first time ever. high school sports amid coronavirus pandemic. "People are driving more, not planning ahead as much and staying in alternative accommodations, like bed & breakfasts and private homes rather than hotels. "I don't think we expect business travel to come back anytime soon," Kayak CEO Steve Hafner told Alison Kosik on the CNN Business digital life show Even though Kayak's queries remain sharply down versus 2019, Americans are indeed still traveling, Hafner said.
For example, areas more reliant on the hospitality industry are struggling to rebound.Of the 389 metropolitan areas in the country, the majority -- 268 areas -- had a lower unemployment rate in July than the Among big cities -- defined as those with a population over 1 million as of the 2010 Census -- Salt Lake City sported the lowest jobless rate among the major cities at only 5.3%.Not adjusting for city size, El Centro in Southern California, had the highest unemployment rate of any metropolitan area in July at 26.8%.The national jobs report for August will be published Friday morning. Another risk is the November election: "The options market right now is basically telling us that there is 20% chance of a 10% or more pullback in equities," Bitterly told Alison Kosik on the CNN Business digital life show Investors might want to think about buying some protection against possible volatility, especially in case the election is contested. Explore recent …
Create a free membership. Stream sports and other activities from high schools across the USA, both live and on demand, via NFHS Network. Most states and municipalities are legally required to balance their budgets, and he worries that they will be forced to lay off millions of workers and raise taxes.
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