What you need to know about Biden’s big virus relief plan

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On January 15 in the year 2000, stock markets saw the worst trading day in how many months?

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5 things you need to know before the market opens today

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Investors are digesting a lot of information today — everything from Joe Biden’s proposed stimulus package to bank earnings reports to retail sales for December.

All of that said, futures indicated losses Friday, with the Dow Jones Industrial Average looking at a 100-point decline when the market opens this morning.

On the earnings front, JPMorgan kicked things off with fourth-quarter data that surpassed what analysts had anticipated. Later this morning, traders will hear from Citigroup and Wells Fargo.

And yesterday, Biden unveiled the framework for the latest virus relief plan, which includes provisions like $1,400 checks for most Americans (more on that, below). That plan would also help him fund his national vaccine program.

What else should you know as the market opens today?

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What you need to know about Biden's big virus relief plan

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Joe Biden yesterday unveiled the framework for his $1.9 trillion “American Rescue Plan,” which would provide additional financial support for families and state and local governments.

“The crisis of human suffering is in plain sight,” Biden said yesterday. “And there’s no time to waste. We have to act, and we have to act now.”

His actions include allocating additional unemployment insurance payments through the fall, as well as $1,400 checks for most Americans. There are billions of dollars set aside for local governments, schools, virus testing, a vaccine program, and other measures.

“I know what I just described does not come cheaply,” he said. “But failure to do so will cost us dearly. The consensus among leading economists is, we simply cannot afford not to do what I’m proposing.”

How are people reacting to this plan so far?

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Fredrick Frost

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Author: Fredrick Frost

Fedrick Frost is the Editor-in-Chief of Morning Bullets. He mainly writes about Politics, The Economy and breaking news. With over 35 years in jounralism he has been influential in helping the morning bullets newsletter readers be informed every morning.