Let's start the day with some news! Get your coffee ready and take a look at the Top 5 news of the day!
Good morning! It's time to check out the main news you need to know before starting your day! Read the Top 5 news of the day.
The things you should know before you finish your coffee are related to the crisis triggered by the Coronavirus pandemic, the stimulus package and GPD reports. Take a look at our news selection!
- The US Commerce Department reported the worst economic contraction in modern American history, triggered by the Coronavirus pandemic. The Gross Domestic Product shrank at an annual rate of 32.9% in the second quarter. During April, May, and June, the US suffered an economic shock that was more than three times as sharp as the previous record, registered in 1958. Check out the analysis of the GDP report here.
- After months of waiting, the Republican proposal for a new stimulus package has finally been unveiled and it includes a vital lifeline for many Americans: a second $1200 stimulus check. Learn here how it will be sent.
- Mortgage giants announced that their earnings boosted in the second quarter, showing clear signs of a rebound in the US housing market. On the other hand, government-controlled Fannie Mae stated that 5.7% of the single-family loans it guarantees had suspended payments as of June 30. Read on about the housing market report here.
- Apple announced that its Board of Directors approved a four-for-one stock split. This decision will encourage small investors, as it offers cheaper and more accessible shares of the company. Learn more about Apple's stock split here.
- As the enhanced unemployment benefit is about to expire, the White House presented a short-term extension of the $600-a-week aid that has helped jobless Americans weather the Coronavirus crisis. However, Democrats rejected this proposal. Here you will find out why.