Dow holds strong gains as Powell says he doesn’t see Fed running though bond market ‘like an elephant’


MARKETWATCH FRONT PAGE

U.S. stocks pare sharp opening gains on Tuesday but remain elevated, amid comments from Federal Reserve Chairman Jerome Powell, in the first of two days of testimony in front of Congress on the health of the economy. See full story.

Clothing stores, not bars and restaurants, took the biggest sales hit from the coronavirus

Sales over the past three months are down by two-thirds at stores that specialize in clothes. See full story.

The rise of mom-and-pop investors in the stock market will ‘end in tears,’ warns billionaire Cooperman

Billionaire Leon Cooperman on Monday said that the emergence of individual investors eagerly scooping up stocks that have been rocked amid the coronavirus-induced downturn will ultimately “end in tears” for those individual investors. See full story.

A budding recovery could run into trouble after the election, warns Goldman Sachs

Our call of the day from Goldman Sachs says a lack of disposable income for consumers could pose a problem to those post-November election recovery hopes. See full story.

The United States of Despair is gripped by two simultaneous pandemics that expose a widening inequality gap

Between rising “deaths of despair” among working-class whites and higher COVID-19 mortality rates among African-Americans, the stunning secular decline in U.S. life expectancy will continue, write Anne Case and Angus Deaton. See full story.

MARKETWATCH PERSONAL FINANCE

‘Americans are rarely up in arms when they see signs that require them to wear shoes or shirts because it is part of our culture’. See full story.



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