US stocks rise amidst controversial data
US stocks are going up on April 16. Investors are evaluating the data concerning the economy’s condition, low Q1 earnings reports and the possibility of economic restart.
The S&P 500 has stepped away from the highest figures seen in the last four weeks. The large US banks are preparing for a high number of upcoming loan defaults caused by the pandemic’s impact.
The largest asset manager in the world BlackRock Inc has notified the clients about a decline in quarterly profit. Investors are withdrawing from of the marquee funds and are switching to various cash management services.
Traders are also closely watching new jobless claims, that have most likely surpassed 5 million.If this is the case, the number unemployment claims in the US have reached 20 million.
President Trump is expected to soon reveal "new guidelines" about re-opening the economy. He claims, that United States had already passed the peak of the pandemic.