Markets up last week (Yes, up!) and the CARES ActSubmitted by E2E Financial, LLC - Andres M. Romero ChFC, CFP® on March 30th, 2020
The investment markets had a roller-coaster ride last week.* The S&P 500 Index ended up 10.26% for the week. It was the greatest one-week increase since the 2008-09 recession.
Late last Friday afternoon, President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act, a $2.2 trillion relief package, which is the largest emergency aid package in U.S. history. The legislation provides expanded unemployment benefits including an extra $600 per week, forgivable small business loans, funds to help bail out larger employers hurt by the virus, and cash payments to Americans estimated to reach up to 94% of all tax filers. More details to come on the CARES Act. Stay tuned.
*Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.