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Your Morning Bullets Brief Updates are here!
It’s trivia time again!
On this day in 1995, the Dow Jones Industrial Average cleared this important milestone for the first time ever. What was it?
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Although Wall Street had been optimistic that the first quarter would be on the up and up, economists at JPMorgan believe that the opposite is so.
“This winter will be grim, and we believe the economy will contract again in 1Q,” they said.
They predict that the contraction will be about 1% in size, followed by growth of 4.5% and then 6.5% in the quarters to follow.
Their analysis is based on the continued pandemic and the restrictions associated with it.
“We think the trends in the labor market should roughly follow what we expect for consumer spending–job growth should weaken noticeably around the turn of the year as the virus weighs on the economy, and then pick up again early next year once vaccine distribution eases virus concerns and fiscal support boosts growth,” economists said.
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Other Top Financial News
This is one opportunity you won’t want to miss!
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Image Source: Andbeyond.com
After a virus outbreak in a Sri Lankan fish market, sales have dropped exponentially, leading a former fisheries minister to take a bite out of a raw fish at a news conference.
“I brought this fish to show you,” said Dilip Wedaarachchi. “I am making an appeal to the people of this country to eat this fish. Don’t be afraid. You will not get infected by the [virus].”
After the outbreak, which sparked thousands of cases of the virus, the price of fish plummeted, as “tens of thousands of tonnes…have been left unsold.”
Prior to the infection surge, fish had been a staple of the Sri Lankan diet.
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Market Movers & Predictions
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Fredrick Frost