Day: October 13, 2020

JPMorgan posts earnings beat during Q3; coronavirus credit losses smaller than expected

TipRanks

These 2 Penny Stocks Could See Outsized Gains, Says Oppenheimer

Lines drawn in the sand in Washington D.C. are holding the next stimulus package hostage, but what does this mean for Wall Street? Despite the stalemate on Capitol Hill, the S&P 500 has rallied 9.5% from a recent low on September 23 on the back of strong economic data.Against this backdrop, investors and economists are starting to wonder if the better-than-expected recent economic data suggests that earlier stimulus packages will be enough to support the economy as we move towards a post-COVID world.Oppenheimer’s Chief Investment Strategist John Stoltzfus points

Why govt employees may not opt for LTC cash voucher scheme; SBI Research lists out major roadblocks

The research report has estimated that only around 10-15 per cent employees would use the LTC cash voucher scheme.

Finance Minister Nirmala Sitharaman announced the LTC cash voucher scheme for the government employees on Tuesday, however, the scheme has a ‘conditions apply’ tag attached to it. The scheme is unlikely to work unless the government decides to pay the GST component also over and above the fare entitlement amount as is done by many PSU banks, said the SBI Ecowrap report. Further, since LTC covers the dependent family members as well, the drawdown on the personal income will be huge,

Depositors start spending ahead of festive season; banks’ liquidity surplus hit by these factors

The moderation in bank deposits on a fortnightly basis indicates that with the nearing of the festive season, the depositors have started spending.

As festive season knocks around the corner, consumers have increased spending, leading to a moderation in bank deposits in the fortnight ending-September 25. While the bank deposits increased by 10.5 per cent on-year in the fortnight, it moderated in comparison to the previous fortnight. The moderation on fortnightly basis indicates that with the nearing of the festive season, the depositors have started spending, said a report by Care Ratings. On the other hand, the overall credit