Weekly Economic and Financial Commentary – 30 March, 2020
Data released last week showed that initial jobless claims (or the number of people filing for unemployment benefits) increased to record high of 3.28 million (compared to 282,000 in the previous week) reflecting the magnitude of the impact of COVID-19. In a bid to ameliorate the ravaging impact of Covid-19 on businesses and individuals, President Trump on Friday signed the $2 trillion fiscal stimulus package. The package provides ~$500 billion in loans for major companies, including $62 billion for the airline sector, as well as cities and states burdened by the outbreak of the virus.
The information contained in this web site reflects thoughts and opinions of NOVA Research Team only, and the firm is not soliciting any transaction based upon such information.
The contents of this website are for informational purposes only and may not reflect current financial developments or market conditions. You should not act or refrain from acting
on the basis of any content included in this web site without seeking financial or professional advice on the particular facts and circumstances at issue. NOVA Research Team reserves
the right to change any information contained herein without prior notice. The firm is not responsible for any third-party content that may be accessed through this web site.
The distribution or photocopying of the firm information contained on or downloaded from this site is strictly prohibited without the express written consent of NOVA Research Team.