The federal government should weigh forgiving all “small” loans provided under the Paycheck Protection Program during the C-19 coronavirus chaos, US Treasury Secretary Steven Mnuchin said.
“We should consider forgiving all small loans, but would need fraud protection,” Secretary Mnuchin told the House Small Business Subcommittee Friday.
The government has approved more than 4.9-M PPP loans totaling $518.1-B, as of Thursday night.
Friday, options expiry, the major US stock market indexes finished at: DJIA -62.76 to 26671.95, NAS Comp +29.36 at 10503.28, S&P 500 +9.16 at 3224.73
Volume: Trade on the NYSE came in at 870-M/shares exchanged
- NAS Comp +17.1% YTD
- S&P 500 -0.2% YTD
- DJIA -6.5% YTD
- Russell 2000 -11.7% YTD
HeffX-LTN’s overall technical outlook for the major US stock market indexes for the week ended 17 July 2020 is Very Bullish.
Looking Ahead: There are no economic reports scheduled until next Wednesday, which will include Existing Home Sales for June.
Have a healthy weekend, Keep the Faith!