Fed officials raise alarms over the state of the economy as infection rates soar in many places
|The number of JOLTS job openings climbed by 401,000 to 5.397 million in May, the U.S. Labor Department reported.
Nevertheless, U.S. stocks ended sharply lower, with the S&P 500 snapping its 5-day win streak, as investors grew wary of the economic, public-health and policy response to the coronavirus pandemic.
Equities nosedived after the White House reiterated a call to cap the next round of COVID-19 stimulus at around $1 trillion, but accelerated their losses in the final hour of trade, after several regional Federal Reserve officials raised alarms over the state of the economy as infection rates soar in many places.
Goldman Sachs economists lowered their third-quarter US GDP growth forecast by a fifth, citing weak consumer services spending and the resurgence in national coronavirus cases. The bank now sees economy shrinking 4.6% in 2020.
Broadwind Energy stock went up by 14.01% from its latest closing price when compared to the 1-year high of $4.14 and moved 15.3% up with the last five trading sessions.
Two of the analysts out of 2 provided ratings for Broadwind stocks as a “buy” while 0 as overweight, 0 as hold and 0 as sell. Broadwind produces wind towers, performs maintenance and repair on wind turbines. The company posted revenue growth over the past year of almost 29%. With an improving balance sheet that will be in a net cash position by year-end, we recommend to take a closer look at this name.
As Bitcoin prices continue to move towards the $10,000 price mark, many investors are putting more thought into security of their crypto assets storage. A recent survey done by iTrustCapital showed that 71% of customers feel more safe having their assets stored with an institutional custody provider as opposed to storing their own private keys.
Investors named two main reasons why they prefer institutional custody overself-storage. The first reason is the complexity and risks associated with not only generating their own private keys, but then having to securely store them as well. The second reason was around beneficiaries and how only proper custody allows their loved ones to be able to redeem the digital asset wealth if the owner passes away.
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