1. Dow set for regular open after 580-point surge
Forward of the final buying and selling day in June and the second quarter, the Dow Jones Industrial Average was on monitor for an nearly 16.8% quarterly advance, which might be the most effective quarter since This fall 1998. The Dow was pacing for a virtually 1% enhance in June, which might be the third straight optimistic month. Nonetheless, 12 months to this point, the Dow was nonetheless down 10% as of Monday’s shut.
In prepared remarks for Tuesday afternoon’s Home Monetary Companies Committee listening to, Federal Reserve Chairman Jerome Powell stated huge questions stay over the outlook for the economic system, notably in mild of ongoing efforts to comprise the pandemic.
Nearly all of the largest U.S. banks stated Monday they carried out effectively sufficient on the Fed’s most-recent stress take a look at to keep up their present quarterly dividends. Nonetheless, Wells Fargo stated the Fed’s evaluation of its enterprise will warrant a discount to its quarterly payout.
2. Fauci, different high U.S. well being officers to testify
Dr. Anthony Fauci, Director of the Nationwide Institute for Allergy and Infectious Ailments, Nationwide Institutes of Well being, testifies throughout a Home Power and Commerce Committee listening to on the Trump Administration’s Response to the COVID-19 Pandemic, on Capitol Hill in Washington, DC on Tuesday, June 23, 2020.
Kevin Dietsch | Pool through Reuters
White Home well being advisor Dr. Anthony Fauci and high U.S. well being company leaders are set to testify Tuesday morning earlier than the Senate Well being, Schooling, Labor and Pensions Committee, sooner or later after a CDC official stated the coronavirus is spreading too rapidly and too broadly for the U.S. to carry it underneath management. On Monday, the top of the World Well being Group stated that regardless of progress in lots of nations “globally, the pandemic is definitely rushing up” and “the worst is yet to come” as many countries and world leaders stay divided on the way to fight the virus. Total worldwide cases now quantity greater than 10.Three million, together with over 505,500 deaths. 1 / 4 of the infections and fatalities have been within the U.S.
3. States stroll again or delay reopening plans
An indication asking shoppers to not transfer tables or chairs to keep up social distancing is displayed on the Arrowhead Towne Heart on June 20, 2020 in Glendale, Arizona.
Christian Petersen | Getty Pictures
As coronavirus circumstances surge in Southern and Western states, extra governors are walking back or delaying reopening plans. Arizona Gov. Doug Ducey on Monday shut down bars, film theaters, gyms and water parks. Arizona will not be alone in its reversal. States together with Texas, Florida and California are backtracking, closing seashores and bars in some circumstances. Oregon Gov. Kate Brown and Kansas Gov. Laura Kelly are ordering individuals to put on masks or face coverings when social distancing can’t be maintained. Town of Jacksonville, Florida, the place mask-averse President Donald Trump plans to simply accept the Republican nomination in August, can be implementing a face-covering order.
4. NJ governor delays indoor eating, NY governor publicizes mall necessities
A “CLOSED USA” signal on Could 4, 2020 on the Jersey Shore in New Jersey.
Eduardo MunozAlvarez | VIEWpress | Corbis through Getty Pictures
Within the Northeast, arduous hit earlier this 12 months however not seeing new surges, New Jersey Gov. Phil Murphy announced Monday the state will delay a resumption of indoor eating that was deliberate for Thursday. New York Gov. Andrew Cuomo introduced that purchasing malls within the state might be required to have virus-filtering air con methods in place with the intention to reopen. AMC is pushing again the reopening date for its theaters to July 30. Beforehand, the corporate had deliberate on beginning to reopen theaters in mid-July in time for the releases of “Tenet” and “Mulan,” each of which have been delayed into August.
5. China’s Xi Jinping indicators Hong Kong safety legislation
Police stand guard on a highway to discourage pro-democracy protesters from blocking roads within the Mong Kok district of Hong Kong on Could 27, 2020.
Isaac Lawrence | AFP | Getty Pictures
Chinese language President Xi Jinping has signed the Hong Kong nationwide safety legislation, state media reported Tuesday. Few particulars have been unveiled, however Beijing stated the laws is aimed toward prohibiting secession, subversion of state energy, terrorism actions and overseas interference. It is unclear when it is going to take impact. When the legislation was proposed final month, it reignited protests in Hong Kong. Critics see the safety legislation as a option to undermine the autonomy promised to Hong Kong for 50 years after it was handed over from the U.Ok. to China on July 1, 1997. Wednesday marks the anniversary of the handover.
— The Related Press contributed to this report.