U.S. stock benchmarks closed lower Friday, as investors reacted to a weaker-than-expected jobs report for September and news that President Donald Trump and first lady Melania tested positive for the coronavirus.
The snags holding up a second big coronavirus economic aid package include money for state and local government as well as for the unemployed, House Speaker Nancy Pelosi told her colleagues Friday.
The record decline in the U.S. economy in the early stages of the coronavirus pandemic was lowered slightly to a 31.4% annual pace — setting the stage for a big rebound in the third quarter.
The $600 in weekly unemployment benefits provided by the CARES Act expired at the end of July, and the extra $300 funded by FEMA will be exhausted soon.
Leon Cooperman, the 77-year-old billionaire chief executive of hedge fund Omega Advisers, has a lot of thoughts on the stock market. Or, as he puts it, three stock markets.