The Week Ahead
Your Weekly News and Updates
July 27, 2020
Wall Street Journal Live: “Slow Food Fast” Cooking Class With Michael Tusk!
WSJ+ Live brings “Slow Food Fast” right to your kitchen for a masterclass in preparing gourmet food at home. Join award-winning chef Michael Tusk,
hosted by WSJ’s Kitty Greenwald and Beth Kracklauer, as they guide you through a simple and elegant recipe for the Roman classic Spaghetti Alla Carbonara. Grab your ingredients ahead of time, cook along and ask questions, as the chef shares his tips for creating restaurant-quality Italian pasta at home.
Click Here For the Full Cooking Class Replay
ECONOMY: NEW CORONAVIRUS RELIEF BILL
New Coronavirus Relief Bill is Likely Coming in August
CNBC Video Provided by Taylor Financial Group, LLC
The top Democrat and Republican in the House cast doubt Tuesday, July 21, 2020 on whether Congress can pass a coronavirus relief bill in time to avoid disrupting a key financial lifeline. “I envision that this bill doesn’t get done by the end of July,” House Minority Leader Kevin McCarthy, R-Calif., told CNBC’s “Squawk Box.” He said he expects Congress to approve legislation “probably in the first week of August.”…Click Here For More
DID YOU MISS LAST WEEK’S WEBINAR?
Did you miss our last webinar: 10 Things You Should Be Doing For Your Portfolios – With Market and COVID-19 Updates?
Debbie discussed topics such as Biden’s Tax Plan and the New Stimulus Plan!
TAX SEASON HAS OFFICIALLY ENDED! PLEASE SEND US YOUR RETURNS!
The filing and tax payment deadlines have officially passed! Please click here for instructions on how to send your tax returns to us. Click Here for our 12-Point Tax Return Review Checklist that allows you to review specific details from your tax return for tax planning purposes.
COVID-19 WEEKLY INDEX
Every week, we will provide you with an updated COVID-19 Index that uses stoplights to indicate the financial stress on our health, economy and markets. It reviews the most recent data points and addresses where we are and then provides an Overall Assessment.
Click here to access your own copy
New This Week:
- The U.S. government agreed to pay nearly $2 billion to Pfizer and BioNTech for 100 million coronavirus vaccine doses.
- U.S. business activity increased to a six-month high in July. U.S. PMI Manufacturing rose to 51.3 in July, up from 49.8, marking a 6-month high. PMI Services rose to 49.6, up from 47.9, also a 6-month high but stayed in contraction. PMI Composite rose to 50.0, up from 47.9.
- European Union leaders agreed on a €1.8 trillion ($2.06 trillion) spending package aimed at containing an unprecedented economic downturn.
TAXES
Election 2020: Joe Biden’s Tax Plans
Kiplingers Article Provided by Taylor Financial Group, LLC
With COVID-19 dominating the news, it’s sometimes hard to remember that this is also an election year. But we’ll be voting (by mail?) before you know it. That means President Trump and Joe Biden don’t have much time to convince voters that they’re more capable of getting us out of this coronavirus-induced economic mess than the other guy…Read More
ESTATE PLANNING
The 10 Basic Questions of Estate Planning
Horsesmouth Article Provided by Taylor Financial Group, LLC
Estate planning is complex and because it involves facing your own mortality, it can be a difficult subject to address. While you most likely have a will, this simple document may not be sufficient to manage your estate and efficiently pass on assets to your heirs. Even if you have an estate plan that you’re confident in…Read More
CORONAVIRUS UPDATES
Jobless claims hit post-pandemic low of 1.3 million, but layoffs could resurge as states impose business restrictions
Market Watch Article Provided by Taylor Financial Group, LLC
The numbers: Initial jobless claims fell slightly in the second week of July to a post-pandemic low of 1.3 million, but the relatively small decline points to persistent stress in the economy as the U.S. struggles to cope with evidence of a resurgence of coronavirus outbreak.
New applications for unemployment benefits, a rough gauge of layoffs, fell by 10,000 to 1.30 million from 1.31 million in the prior week, the Labor Department said Thursday…Read More
HEALTH AND WELLNESS
Could America Have a Vaccine by Election Day?
Economist Podcast Provided by Taylor Financial Group, LLC
The United States is home to the world’s most renowned disease-fighting agency, the CDC. Americans might have expected its scientists to coordinate a testing program, public health messaging and supplies to keep the pandemic under control. That hasn’t happened. America faces a secondary surge of coronavirus cases not seen anywhere else in the world. Can America beat covid-19?…Click on the photo to hear this podcast
Weekly Market Commentary 7.27.2020
Published by The Carson Group, LLC
The increased number of COVID-19 cases appears to be pressuring employment in the U.S. Last week, the number of initial unemployment claims rose from 1.3 million to 1.4 million. (See Figure 1.) After slowly declining for weeks, the uptick shows signs of a weakening job market. New survey data from the Census Bureau showed a similar trend and indicated the July job report could be very weak…Read More
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