Stock futures slip after Trump signs orders extending coronavirus relief

[Yo_Mama_Been_Loggin]

U.S. stock futures slipped on Sunday night after President Donald Trump signed several executive orders aimed at extending coronavirus relief.

Dow Jones Industrial Average dipped 55 points, or 0.2%. S&P 500 futures fell 0.2% and Nasdaq 100 futures were down by 0.4%.

Those orders continue the distribution of expanded unemployment benefits, defer student loan payments through 2020, extend a federal moratorium on evictions and provide a payroll tax holiday. However, the unemployment benefit will be continued at a reduced rate of $400 per week. Originally, the benefit provided workers impacted by the pandemic with $600 per week.

Trump's moves come after congressional leaders failed to make progress on a new coronavirus stimulus package last week. Several benefits from a package signed earlier in the year lapsed at the end of July, raising uncertainty about the U.S. economy moving forward.

https://www.msn.com/en-us/money/markets/stock-futures-slip-after-trump-signs-orders-extending-coronavirus-relief/ar-BB17LarS?li=BBnbfcN&ocid=DELLDHP

And Trump thought he did good. Maybe the market sees through his bullshit.

[mr_lebowski]

1. He did NOT extend the moratorium on evictions ... and where the $400/week is coming from is

in question still, and at best there's only about 4 weeks worth of funds he can tap into.

And the holiday is not a real holiday, it's a deferment ... you still owe the money.

Very misleading article IMHO.

[Yavin4]

6. The $400/week is from Larry Kudlow's coke fever dream. n/t

[Chainfire]

8. You won't owe it before election day

[Thekaspervote]

2. They know what is going on, and they know the impending collapse without REAL help

Not some stupid “memorandums” and 1 eo that will do nothing to help

[Grasswire2]

3. also, the terms were changed for direct stimulus payments, as far as I know

I read that it was changed to go only to those who file tax returns.

This means that a vast number of Americans would be left out. No stimulus check this time.

[Yo_Mama_Been_Loggin]

4. I don't believe anyone is getting a $1200 direct payment per the EO

https://fox5sandiego.com/news/national-news/second-stimulus-checks-trump-executive-orders-leave-1200-payments-in-limbo/

[Nexus2]

10. But it LOOKS like he did something.

That's what counts to him.

[Yo_Mama_Been_Loggin]

11. Don't confuse activity with accomplishment

Quote's been attributed to the late John Wooden and several other people.

A 74 year old guy should know that. A successful entrepreneur even more so but we know the truth about Trump.

[Steelrolled]

5. S&P and DJIA down 0.2%? Nasdaq down 0.4%?

Does no-one at msn.com have a clue about the stock market? Those moves are nothing, and odds are they are unrelated to what Trump is up to.

Edit to add: S&P and Dow now up (just barely).

[still_one]

7. Exactly, and DOW AND S&P is now pisitive.

[Chainfire]

9. As I said before

The Senate has withheld legislation so that Trump can come in and be the big hero, coming to the rescue of the poor suffering Americans after the House and Senate failed to do so. Election year nuclear politics.

We now have an America ruled by decree. Long live the king.....

[Nexus2]

12. Has there been any more mention of Direct Stimulus payments?

I'm pretty pessimistic about them being done, but we could really use something like that right now.