July 8, 2020
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5 things you need to know before opening the stock market on Tuesday

5 things you need to know before opening the stock market on Tuesday

AliExpress WW

1. Dow set for bottom opening after 580-point burst

On the eve of the last trading day of June and the second quarter, the Dow Jones Industrial Average showed a quarterly growth of almost 16.8%, which will be the best quarter since the fourth quarter of 1998. The Dow went on an increase of almost 1% in June, which will be the third consecutive month. However, from the beginning of the year, the Dow was still down 10% to close on Monday.

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In a prepared statement at the House’s Financial Services Committee meeting on Tuesday afternoon, Federal Reserve Chairman Jerome Powell said serious questions remain about the prospects for the economy, especially in light of ongoing efforts to contain the pandemic.

On Monday, almost all major US banks said they showed good enough results in the latest Fed stress test to maintain their current quarterly dividends. However, Wells Fargo said the Fed’s assessment of his business would justify a reduction in quarterly payments.

2. Fauci, other senior US health officials to testify

Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, National Institutes of Health, testifies at a hearing at the House’s Energy and Trade Committee on the Trump administration’s response to the COVID-19 pandemic on Capitol Hill in Washington, DC. Tuesday, June 23, 2020

Kevin Ditch | Pool through Reuters

White House Health Advisor Dr. Anthony Fauci and senior executives at US health agencies must testify on Tuesday morning before the Senate Committee on Health, Education, Labor and Pensions, a day after a CDC official said coronavirus was spreading too fast and too wide for the US to take control of it. On Monday, the head of the World Health Organization said that despite progress in many countries “globally, the pandemic is actually accelerating” and “the worst is yet to come,” as many countries and world leaders remain divided over how fight the virus Total Cases in the World currently there are more than 10.3 million people, including more than 505 500 people. A quarter of infections and deaths were in the United States.

3. States retreat or delay renewal plans

A sign urging consumers not to move tables or chairs to maintain social distance is displayed at the Arrowhead Town Center on June 20, 2020 in Glendale, Arizona.

Christian Petersen | Getty images

As coronavirus cases increase in southern and western states, more governors come back or put off renewal of plans. Arizona governor Doug Ducey closed bars, cinemas, gyms and water parks on Monday. Arizona is not alone in its circulation. States, including Texas, Florida, and California, are retreating, in some cases closing beaches and bars. Oregon Governor Kate Brown and Kansas Governor Laura Kelly are telling people to wear face masks or face masks when social distance is not possible. In the city of Jacksonville, Florida, where President Avant Mascald Donald Trump plans to accept the Republican candidacy in August, he is also executing an order to close his face.

4. The governor of New Jersey postpones dinner indoors, the governor of New York announces the requirements of the shopping center

US CLOSED badge May 4, 2020 on a Jersey shore in New Jersey.

Eduardo MunozAlvarez | VIEW | Corbis with Getty Images

In the northeast, badly hit earlier this year, but not seeing any new outbursts, New Jersey Governor Phil Murphy announced Monday that the state will postpone the resumption of lunch meals at the premises scheduled for Thursday. The Governor of New York, Andrew Cuomo, announced that viral-filtered air conditioning systems would need to be installed in state malls to reopen them. AMC postpones the opening date of its theaters to July 30. The company had previously planned to open theaters in mid-July to release Tenet and Mulan, both of which were rescheduled in August.

5. Xi Jinping of China signed Hong Kong Security Act

Police stand guard on the road to deter Democratic protesters from blocking roads in the Mong Kok district of Hong Kong on May 27, 2020.

Isaac Lawrence | AFP | Getty images

Chinese President Xi Jinping signed Hong Kong national security law, state media reported on Tuesday. Few details were made public, but Beijing said the law was aimed at banning secession, undermining government, terrorist activities, and foreign interference. It is not clear when this will take effect. When a law was proposed last month, it sparked protests in Hong Kong. Critics see the security law as a way to undermine the autonomy promised to Hong Kong 50 years after it was transferred from the UK to China on July 1, 1997. Wednesday marks the anniversary of the transfer.

– The Associated Press contributed to this report.

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