Looking for the GOP stimulus plan today, as report suggest there will be special attention to families and children.
- $1.200 direct payment
- Moratorium on evictions
- $100 billion on schools
The sticky point is Mnuchin’s plan to limit unemployment benefits to 70% of paychecks. I’m not sure if they are basing this on median or average incomes.
If it’s the latter, then the change from current benefits with $600 from the federal government is limited for states with lower max unemployment benefits.
Mnuchin Plan | Max State UI | Average Income | 70% Plan | Weekly Loss |
Alabama | $275 | $51,347 | $691 | -$184 |
Arizona | $240 | $57,422 | $773 | -$67 |
Florida | $275 | $52,728 | $710 | -$165 |
Geogia | $365 | $58,280 | $785 | -$180 |
Louisana | $247 | $53,095 | $715 | -$132 |
Michgan | $235 | $58,132 | $783 | -$52 |
Tennessee | $275 | $59,121 | $796 | -$79 |
North Carolina | $350 | $56,343 | $758 | -$192 |
Kentucky | $552 | $50,701 | $683 | -$469 |
Mnuchin Plan | Max State UI | Median Income | 70% Plan | Weekly Loss |
Alabama | $275 | $33,740 | $454 | -$421 |
Arizona | $240 | $37,020 | $498 | -$342 |
Florida | $275 | $34,560 | $465 | -$410 |
Geogia | $365 | $35,950 | $484 | -$481 |
Louisana | $247 | $33,390 | $449 | -$398 |
Michgan | $235 | $37,620 | $506 | -$329 |
Tennessee | $275 | $34,890 | $470 | -$405 |
North Carolina | $350 | $35,750 | $481 | -$469 |
Kentucky | $552 | $34,650 | $466 | -$686 |
Portfolio Approach
Today’s Session
There is so much happening this week. I suspect the market trades in a narrow range until midweek.
- Biggest week for earnings
- Federal Reserve FOMC
- Stimulus news from Washington, D.C.
- Big Tech CEO head to Washington, D.C.
This morning, durable goods came in at 7.3% in June against consensus of 5.4%.
June Durable Goods
To see the chart, click here.
Equities have begun to drift ahead of the open. Stocks are not down enough to lure aggressive buyers, but sellers are reluctant to unload here and would need to see more pressure.