Morning Market Report - May 27, 2020
EU unveils plan to borrow 750 billion euros to aid economic recovery
The European Commission has unveiled plans for a 750 billion euro ($826.5 billion) recovery fund as the region faces the worst economic crisis since the 1930s.
It will borrow these funds and then disburse them via the European budget — the EU’s common basket of cash that supports programs such as Erasmus. They will be repaid over a long period of time, between 2028 and 2058.
It will borrow these funds and then disburse them via the European budget — the EU’s common basket of cash that supports programs such as Erasmus. They will be repaid over a long period of time, between 2028 and 2058.
The 750 billion euros includes 500 billion euros in grants and 250 billion euros in loans to member states. Out of the 500 billion euros in loans, 310 billion will be invested in the green and digital transitions.
Source: CNBC
Mortgage applications spike 9% from a year ago
- Mortgage applications to purchase a home also rose 9% last week from the previous week, according to the Mortgage Bankers Association.
- Mortgage applications to purchase a home rose 9% last week from the previous week and from a year earlier, according to the Mortgage Bankers Association’s seasonally adjusted index. It was the sixth straight week of gains and a 54% recovery since early April.
Source: CNBC
Boeing set to announce significant U.S. job cuts this week: union
Boeing Co is expected to announce U.S. job cuts this week after disclosing last month it planned to shed 10% of its worldwide workforce of 160,000 employees.
ES
NQ
YM
RTY
Tommy O'Brien 9 a.m. TigerTV Update
10 Year Note
Gold 15-Min
Silver 15-Min
Oil 15-Min
VIX
