Treasury Secretary Mnuchin

  • keeping close watch on China living up to trade deal
  • brought support to help states on Covid related expenses
  • Trump to get recommendations on China, capital markets
  • May open $17 billion in a national securities funds to more defense companies
  • May allow PPP money for small business looting damage
  • seriously considering direct economic impact payments
  • would set more criteria for any new PPP money to companies
  • As of now we believe China is in the process of meeting obligations under trade agreement, keeping a close watch on it
  • some airlines have said they are not sure they will take a coronavirus rescue loans

US stocks continue to be under pressure with the major indices trading at low levels for the day

  • S&P index down -4.12% to 3058.73
  • NASDAQ index down 3.29% 29690.99
  • Dow industrial average is now down at 1311 points to 25678