Stock Market Stocks: Another Push for $ 2,000 Stimulus Checks

The House of Representatives has implemented a measure to increase stimulus checks for people below a certain income level to $ 2,000. The bill now goes to the Senate, where it faces an uncertain future.

Trump has supported the idea of ​​larger checks, but some Republicans do not think an increase is necessary as it will increase the total price of the stimulus bill.

Rep. Kevin Brady, a Republican from Texas, outlined the reason for the opposition to the larger payments in a message on Twitter. The checks, he argues, would ‘do nothing’ to help local businesses and get people back to work.

“We can do better,” he said.

Not everyone agrees with Brady.

Federal Reserve Chairman Jerome Powell, for example, has repeatedly commented on the need to combine central bank stimulation with spending ordered by Congress.

The Fed, he explained in November, uses its lending programs to an “unprecedented extent.” But loans are not useful in every case.

‘Many borrowers benefit from this [lending] programs, as well as the overall economy. “For many others, it may not be the answer to getting a loan that is difficult to repay,” Powell told a news conference.

“Direct fiscal support may be needed. Elected officials have the power to tax and spend and make decisions about where we as a society should direct our collective resources,” he added. “The fiscal policy actions that have been taken so far have made a critical difference for families, businesses and communities across the country.”

Stimulus facts: how do we know how stimulus controls can be spent? The U.S. Census Bureau conducted a survey in June with some answers on how the first round of payments was used.

The majority of adults in households who have received a stimulus test from the federal government say they use it or plan to use most of it on household expenses. This means that the money goes back into the economy.

Meanwhile, 15.7% used their stimulus check to pay off debt and 14.1% planned to save it mostly.

Of those who spent their checks, 80% reported using the money for food, while 77.9% used it for their rent and / or utilities, including gas, electricity and internet. About a fifth spent the money on clothes.

According to the Census Bureau, 8.1% of respondents said they spend the stimulus on household goods such as TVs, electronics, furniture and appliances or leisure goods such as fitness equipment, toys and games.

The result: economists see direct payments as a way to help protect the fragile recovery and prevent people from falling into poverty, as the pandemic continues to rage in the United States.

The latest news about the virus is horrible. The number of patients hospitalized with Covid-19 across the country is the highest it has ever been, and at this rate, health experts are warning that they need to ration nurses, respirators and care.

The Boeing 737 Max is back

The Boeing 737 Max will transport American passengers for the first time in almost two years on Tuesday, when American will use the plane on a retro route from Miami to New York.

These are some notable flights for the 737 Max, which was grounded from March 2019 to November 2020 after two accidents that killed 346 people. The flights come after the US Federal Aviation Administration last month approved the changes Boeing made to the plane.

Not everyone is on board: A poll conducted by Reuters / Ipsos on Monday found that 57% of Americans surveyed said they would probably not fly in a Boeing 737 Max when talking about history of the aircraft was not informed. About 37% say they are likely to fly in it once it is in the air for six months or longer.

American did not disclose how many seats he sold on Tuesday’s flights, a 10:32 ET route from Miami to LaGuardia Airport in New York and back at 2:30 p.m. But late this morning, the airline’s website displayed only one main ticket still available for the afternoon back.

Most other aviation authorities have yet to approve the use of the 737 Max. But Brazilian airline GOL became the first carrier to offer passenger flights earlier this month, and Aeromexico resumed flights between Mexico City and Cancun last week.

The problems with the 737 Max helped forget 2020 a year for Boeing. Shares in the company have lost about a third of their value since January 1st.

Tesla possibly comes to India

We’ve heard it before, but 2021 may be the year Tesla enters the world’s fourth largest car market.

Indian Transport Minister Nitin Gadkari told CNN Business that Elon Musk’s electric car company will start selling vehicles there next year. Tesla will then investigate manufacturing in the country, Gadkari added.

Tesla did not immediately respond to a request for comment. But Musk indicated on Twitter over the weekend that sales would begin in 2021.

The history: the CEO said in 2017 that Tesla plans to sell cars in the country as soon as summer. But the delay may have been well established.

Car sales in India fell sharply in 2019 as new safety and emissions regulations raised prices, and problems among India’s suppliers of consumer finance’s lending.

Shares in Tesla (TSLA), which has risen nearly 700% so far this year, added another 0.5% in the pre-trading market on Tuesday.


The S&P Case-Shiller Price Price Index will be presented at 09:00 ET.

Come tomorrow: The US Energy Information Administration releases a report on the stock of crude oil.