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Happy Easter {Market Report} April 13th

Happy Easter {Market Report} April 13th
April 14, 2020 abryant

I hope you have a wonderful Easter with those you love!

 

 

I think my guardian angel drinks.

Young at heart. Slightly older in other places.

My swimsuit told me to “go workout,” but my sweatpants were like “nah, you’re good.”

Opera is when a guy gets stabbed in the back and, instead of bleeding, he sings.

To get back my youth, I would do anything in the world, except exercise, eat right, and get plenty of sleep.

 

Now The Market Report . . .

 

Workplace disruptions caused by the COVID-19 pandemic are expected to wipe out labor equivalent to the effort of 195 million full-time workers. That’s 6.7% of hours clocked worldwide.

Jobless claims last week topped 6 million for the 2nd straight week, totaling more than 15 million in the last 3 weeks. Almost 95% of Americans are now under stay-at-home orders.

The Fed announced another series of sweeping steps to provide as much as $2.3 trillion in additional aid, including starting programs to help small and mid-sized businesses.

 

Following a 1,270% increase between the weeks of March 2 and March 16, latest figures show an 1,896% increase in forbearance requests over the most recent 2-week period.

Some reports show nearly one third of apartment renters didn’t pay April rent the first week of April. Many tenants will be temporarily protected from eviction though.

Refinance applications dropped 19% last week but were up 144% over the previous year. Purchase applications were down 12% for the week and 33% year over year.

“It’s not whether you get knocked down, it’s whether you get up.”

Vince Lombardi

 

This week’s potential market moving reports are:

 

Monday, April 13th:         None Scheduled

Tuesday, April 14th:         None Scheduled

Wednesday, April 15th:    MBA Mortgage Applications, Retail Sales, Industrial Production

Thursday, April 16th:        First Time Jobless Claims, Housing Starts

Friday, April 17th:             None Scheduled

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