Market News 3 Aug 2020
(WorldNews Spain)

American technology once again rescued the day for the Bulls on Friday after initially falling 300 with the political impasse between Republicans and Democrats to extend unemployment benefits remaining. That vital income for millions will expire this Friday. Consumer confidence data revealed a fall from 78.1 to 72.5 in July with personal income also down by 1.1% for June. The S&P 500 has gained 3.3% since the U.S. reporting season began with 64% of results beating forecasts. The index is now in its fourth consecutive monthly advance thanks to near-impossible earnings visibility enabling those companies to underestimate their potential and deliver many more beats that the 10-year average of...