March 24, 2020 Weekly Report

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Highlight of the Week

Congress near final agreement on stimulus package

  • Democrats have two main issues: “workers first and a Marshall plan for hospitals is strongly included in the bill”
  • The measure’s price tag could hit $2 trillion to numb pain of virus outbreak

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Coronavirus updates

  • As of Tuesday morning, there were nearly 400,000 Coronavirus cases including upwards of 17,000 deaths reported worldwide.
  • Also as of Tuesday morning, the US had reported nearly 50,000 cases with almost 600 deaths. This week we are expected to see a large spike due to the lag in testing and delay in the development of the virus.
  • Georgia had seen 800 cases and 26 deaths. Fulton county leads with 152 cases.

The Fed continues to take dramatic action

  • The Federal Reserve launched a number of programs Monday aimed at helping markets and the economy. Together, they are more aggressive and quicker than what happened during the financial crisis of 2008.
  • CNBC estimates that the Fed could take its balance sheet as high as $10 trillion.

Atlanta issues order to ‘shelter in place’ for two weeks

Essential businesses like grocery stores, restaurant takeout, etc. will remain open. Governor Brian Kemp stopped short of issuing a statewide shelter in place.

Category: Market Updates
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March 17, 2020 Weekly Report

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