It is difficult for the United States to launch an economic rescue plan before the election
The U.S. Republican and Democratic parties also seem to have difficulty launching an economic rescue plan before the November 3 election. Originally, the two parties wanted to take the lead in putting out the parts that both sides agreed with to relieve the people’s hardship. However, the Democrats pointed out that the major premise is that the Republicans must promise to pass all the economic rescue plans requested by the Democrats in the future, otherwise they will not allow partial plans to pass. By the end of the past weekend, the Trump administration proposed another $1.8 trillion economic rescue plan, but it has been rejected by the Speaker of the US House of Representatives Pelosi. In other words, it is unlikely that a rescue economic plan will be launched before the US election. It is believed that this may not be conducive to the investment atmosphere in the financial market this week.
This week, US companies will begin to announce third-quarter results
The first to be announced on Tuesday will be the third quarter results of the banks. According to Reuters estimates, overall US stock earnings will fall by 21% in the third quarter. If true, this will be slightly better than the 31% fall in the second quarter, but the situation is still quite serious. Among them, the most noteworthy is believed to be energy stocks, because the relative decline will be more serious. It is estimated that there is a chance of a 115% decline compared with the same period last year. On the contrary, earnings of technology stocks are estimated to only decrease by 0.5%.
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