Oct 1, 2020
The stock market enters another pandemic quarter riding high
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Despite everything, U.S. stocks are overall doing well. Plus, unemployment claims remain stubbornly high, as consumer spending slows. And, Disney+ rolls out GroupWatch for people who want to stream movies and shows together.
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We're really losing momentum in consumer spending
Diane Swonk, chief economist at Grant Thornton, said, "we did see a nice pickup in spending on services — people finally returning to hospitals catching up on all those elective surgeries they deferred during lockdowns — and also spending on some travel picking up. What we didn't see, and what was really devastating, was we saw a drop in spending in food stores in August from July. And that was really closely tied to the lapse in that $600 a week supplement to unemployment insurance."
The S&P 500 gained 8.5%, the Dow is up 7.5% and the Nasdaq is up 11% for the quarter.
The new Disney+ GroupWatch feature allows subscribers to watch shows with friends virtually and react to scenes using emojis.
David Brancaccio Host
Nicole Childers Executive Producer
Victoria Craig Producer, BBC
Stephen Ryan Producer, BBC
Jonathan Frewin Producer, BBC
Daniel Shin Producer
Candace Manriquez Wrenn Producer/Editor
Brian Allison Engineer
Alex Schroeder Digital producer
Meredith Garretson Producer
Erika Soderstrom Producer/Director