CORONAVIRUS AND THE STOCK MARKETS

The Alex Witt program on MSNBC (March 14, 2020) had an unexpected speech by President Trump that was actually very uplifting.  Not only do we now have emergency relief money, but the White House/House of Representatives have come to an agreement on a package that addressees people being put out of work or staying home because of school closings, etc.* (Moscow Mitch sounds as if he will submarine it, but Sec. Treasury says there will only be some “technical” corrections on Monday.) The bill includes free testing, ramping up testing (Thermo-Fischer has been approved to do testing and is the first company)  If the bill passes the Senate, there will be good news for the stock markets and they can go up.  Trump says that shaking hands is not a good idea, but when someone puts out their hand to him, it is a reflex to shake the hand.  He will work on it.  Trump also has had a coronavirus test and he is OK.  Also, travel restrictions are extended to the UK and Ireland on Monday.

But isn’t this a complication?
In April, the U.S. Department of Agriculture is set to tighten rules for unemployed adults who don’t have minor children or disabilities, a policy that will shrink food benefit enrollment by 700,000, or about 2% annually.
(https://www.newsmax.com/politics/snap-cuts-administration/2020/03/13/id/958307/?ns_mail_uid=142cf6cb-b757-4a77-afda-d3310b9288ee&ns_mail_job=DM94941_03042020&s=acs&dkt_nbr=010104ggycvl )

If this is the new Trump, he may well be tough come election day.  His previous efforts to minimize reporting on the coronavirus wasn't working.

Regarding continuing care facilities, there is to be minimal contact between family and friends with residents   Contact will be permitted in end-of-life situations.


* According to House Appropriations Committee Democrats, the legislation: 

Requires private health plans to cover coronavirus testing at no cost, and allocates $1 billion for testing for uninsured Americans
Ensures employers with fewer than 500 employees and government employers offer two weeks of paid sick leave. The provision expires at the end of the year
Requires those same kinds of employers to provide up to 3 months of paid family and medical leave for people forced to quarantine due to the virus or care for children or family members because of the outbreak
Offers payroll tax credits for employers providing those leave benefits
Puts $1 billion into emergency state grants for providing unemployment insurance benefits. It includes $500 million for staffing and logistical costs for states, with an additional $500 million reserved for states that see a 10% increase in unemployment
Puts $500 million into food assistance for low-income pregnant women and mothers with young children, $400 million into local food banks and $250 million into a senior nutrition program
Suspends the Supplemental Nutrition Assistance Program work requirements for the duration of the crisis

* https://www.cnbc.com/2020/03/13/coronavirus-outbreak-pelosi-and-trump-administration-reach-deal.html

Here is another interesting article on the stock markets.
https://www.cnbc.com/2019/12/31/the-stock-market-boomed-in-2019-heres-how-it-happened.html