For Immediate Release
Chicago, IL – October 9, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: RH RH, The Boston Beer Company, Inc. SAM, Thor Industries, Inc. THO, Target Corporation TGT and FedEx Corporation FDX.
Here are highlights from Thursday’s Analyst Blog:
Top Growth Stocks to Buy on Iffy Stimulus Prospects
On Oct 7, U.S. stock markets closed sharply higher after President Donald Trump tweeted urging U.S. Congress to immediately pass a coronavirus-aid package for some specific segments of the economy.
This was in contrast to Trump’s tweet on Oct 6 when he asked his administration to halt negotiations with Democrats regarding a full-phased fiscal stimulus till the scheduled U.S. election on Nov 3. Wall Street saw an immediate downturn and ended sharply lower as soon as the news broke. However, investors’ hope for at least a truncated second round of stimulus package helped the market to more than offset the previous day’s losses.
A Partial Fiscal Stimulus
President Trump has urged Congress to clear $25 billion for airline payroll support and $135 billion for a small business paycheck protection program. Both of these aids could be paid for out of unused funds from the Cares Act, which came to an end in July. Moreover, Trump has also sent a stand-alone bill of $1,200 per individual as unemployment benefit.
Notably, the $2.2 trillion first round of coronavirus-relief package — popularly known as the CARES ACT — terminated at July end. Meanwhile, coronavirus-led severe economic devastation compelled lawmakers to inject another round of stimulus.
However, the U.S. Congress failed to reach an amicable solution regarding the size and scope of