Richmond Fed President Barkin: Big tech has done well in pandemic

Market news

26 August 2020

Richmond Fed President Barkin: Big tech has done well in pandemic

Jobs in most sectors down 5% to 10%
Services sector remains broadly depressed
Big tech has done well in pandemic and is reflected in the stock market
There clearly is some risk as valuations get elevated
July's durable goods report was positive

EIA’s report reveals bigger-than-forecast decline in U.S. crude oil inventories

U.S.: Crude Oil Inventories, August -4.689 (forecast -3.694)

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