Michael C Moran – Market Watch Update 3/21 📲
🤵Federal Reserve: Federal Reserve Board expands its program of support for flow of credit to the economy by taking steps to enhance liquidity and functioning of crucial state and municipal money markets.
Michael’s view: The Federal Reserve is cash pumping via state and municipal money market liquidity efforts, therefore financial markets continue with false bounces in the market.
🌐Learn more at Federalreserve.gov, foxnews.com, yahoofinance.com
🇺🇸 US: Lockdown measures have been taken in California, Illinois, and New York. The shelter-in-place order is expected to take place in many more states.
▪️Sources claim President Trump is a ‘menace to public health’
▪️Congress battles with White House over the economic stimulus package, which SLOWS THE PROCESS!
▪️US and Mexico agree to limit travel aside form essential travel and trade, pandemic measures strengthen.
🌐Learn more at theguardian.com
🏪 US Small Business: Small Business Administration offering small business loans in state of Oregon amid the declaration of ‘economic disaster’ the SBA made.
📈 Financial Markets Overview*Previous Day Close/Snapshot at 7:30PM EST (Foreign Markets)
US Stock Market – DJIA: 19,174 (-4.55%)
Europe Market – Global Dow Realtime EUR: 1,945 (-1.20%)
Asia Market – NIKKEI 225 Index: 16,553 (-1.04%)
U.S. Stock Futures:
▪️Case count over 265,000 and death toll over 11,000
▪️Member of the US Vice President’s staff tested positive
▪️Death toll rises to 2 in the United Arab Emirates
Michael Moran, IHG Management