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The Monday Mix: July 6 – 12, 2020

Headlines discussed at LNWM’s Monday morning briefing:

S&P 500 earnings are expected to plunge nearly 45% for 2nd quarter of 2020, ended in June; if accurate, this will be the biggest drop since 4th quarter 2008.

Around 18 million Americans are collecting unemployment, and 1.3 million new claims were filed in June; both numbers were better-than- expected.

The US said it will slap a 25% tariff on French imports in retaliation for French tax on digital services, but the effective date is uncertain.

US inflation seems to be under control for now, despite massive stimulus by the Fed and US government;  June showed a small unexpected drop in producer prices last month.

The US dollar posted its largest weekly drop in a month, as hopes for new Covid-19 treatments were offset by rising infections in the US and elsewhere.

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