05-28-2020: Many Americans Who Manage To Keep Their Jobs May Suffer Salary Reductions
InvestTalk
Hosts Justin Klein & Luke Guerrero, CFA | Wealth Managers and Investment Advisors
4.4 • 1.5K Ratings
🗓️ 28 May 2020
⏱️ 49 minutes
🧾️ Download transcript
Summary
Don’t expect a so-called V-shaped recovery if pay cuts across a broad spectrum leave less money for the kind of spending that can help spark our economy back to life.
Today's Stocks & Topics: Dividend Investing for Retirees, Credit Card Fraud, Tax Credit for Business, OKE - ONEOK Inc., Dogs of the Dow, SYF - Synchrony Financial, ABBV - AbbVie Inc., PFE - Pfizer Inc., Where to Invest.
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Transcript
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| 0:00.0 | This podcast is produced by KPP Financial, Steve Peasley President, |
| 0:10.4 | KPP Financial, Independent thinking, shared success. |
| 0:15.0 | And now today's podcast. |
| 0:17.0 | Good afternoon fellow investors and welcome to Invest Talk. This is our |
| 0:26.2 | Thursday, May 28th, 2020 edition of Invest Talk. Yeah, we're approaching the last day. |
| 0:33.8 | We have one more trading day in the month of May, |
| 0:38.0 | and we're through the five, I think longest months |
| 0:41.0 | I've ever been a part of, I'll tell that much that's for sure now we know that the |
| 0:46.3 | economy is is reopening and that's the positive and that's what I'm gonna try to do today is give you some pros and cons, right? |
| 0:54.0 | Positive with the jobs report today, continuous jobless claims, fell. |
| 1:00.0 | It fell for the first time from about 25 million to 21 million which reflects the fact that |
| 1:06.2 | a lot of the economy is reopening. I know people working in the restaurant industry and they're |
| 1:10.9 | going back to work a little bit. |
| 1:12.6 | So you're starting to see this reopening. |
| 1:16.1 | And once again, that's the number I'm going to try to, |
| 1:19.7 | I'm going to keep my eye to see where that levels out at. Is it over 20 million? Is it in the |
| 1:25.0 | mid teens? Where does that level out? I think that would be interesting. So that's |
| 1:29.8 | the positive today. The negative was some economic news in regards to durable |
| 1:35.9 | goods which was still relatively weak and then on the geopolitical and domestic political scene. |
| 1:44.7 | You have riots in Hong Kong, as well as Minnesota after that pretty gruesome death of the hands of that police officer and that is that's |
| 1:58.4 | not good all right that instability around the world means less spending, slower recovery from |
| 2:10.2 | from this pandemic due to people focusing less on going out there and living their normal lives |
... |
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