FILE PHOTO: Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. REUTERS/Brendan McDermid

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Here’s what you need to know before markets open.

1. A Wall Street chief strategist says US lawmakers need a deal on fiscal aid – even a small one will help save consumer spending. US lawmakers need to decide on a fiscal stimulus package, even if it is a smaller one, to prop up consumer spending, particularly going into the holiday shopping period, Victoria Fernandez, chief market strategist at Crossmark Global Investments told CNBC’s”Trading Nation” Tuesday.

2. Markets expect any COVID-19 vaccine approved this year to only be 50% to 60% effective, asset manager Balyasny says. Stock markets are currently pricing in chances of any COVID-19 vaccine approved this year to only be 50% to 60% effective, Bloomberg reported Balyasny Asset Management’s Dmitry Balyasny saying.

3. Failure to provide more fiscal stimulus is a ‘significant mistake’ that could cause more businesses to fail, Moody’s chief economist says. Moody’s Analytics’ chief economist Mark Zandi told Bloomberg TV Tuesday the gridlock in Washington over a new set of measures to help …read more

Source:: Businessinsider – Finance


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