5 issues to know earlier than the inventory market opens June 30, 2020

Forward of the final buying and selling day in June and the second quarter, the Dow Jones Industrial Common was on observe for an nearly 16.8% quarterly advance, which might be the very best quarter since This autumn 1998. The Dow was pacing for an almost 1% enhance in June, which might be the third straight optimistic month. Nevertheless, yr to this point, the Dow was nonetheless down 10% as of Monday’s shut.

In ready remarks for Tuesday afternoon’s Home Monetary Companies Committee listening to, Federal Reserve Chairman Jerome Powell stated massive questions stay over the outlook for the economic system, significantly in gentle of ongoing efforts to include the pandemic.

Almost all the largest U.S. banks stated Monday they carried out effectively sufficient on the Fed’s most-recent stress check to take care of their present quarterly dividends. Nevertheless, Wells Fargo stated the Fed’s evaluation of its enterprise will warrant a discount to its quarterly payout.

White Home well being advisor Dr. Anthony Fauci and high U.S. well being company leaders are set to testify Tuesday morning earlier than the Senate Well being, Schooling, Labor and Pensions Committee, sooner or later after a CDC official stated  the coronavirus is spreading too quickly and too broadly for the U.S. to carry it underneath management. On Monday, the pinnacle of the World Well being Group stated that regardless of progress in lots of international locations “globally, the pandemic is definitely dashing up” and “the worst is but to come back” as many countries and world leaders stay divided on how you can fight the virus. Whole worldwide instances now quantity greater than 10.Three million, together with over 505,500 deaths. 1 / 4 of the infections and fatalities have been within the U.S.

As coronavirus instances surge in Southern and Western states, extra governors are strolling again or delaying reopening plans. Arizona Gov. Doug Ducey on Monday shut down bars, film theaters, gyms and water parks. Arizona isn’t alone in its reversal. States together with Texas, Florida and California are backtracking, closing seashores and bars in some instances. Oregon Gov. Kate Brown and Kansas Gov. Laura Kelly are ordering individuals to put on masks or face coverings when social distancing can’t be maintained. The town of Jacksonville, Florida, the place mask-averse President Donald Trump plans to simply accept the Republican nomination in August, can also be implementing a face-covering order.

Within the Northeast, arduous hit earlier this yr however not seeing new surges, New Jersey Gov. Phil Murphy introduced Monday the state will delay a resumption of indoor eating that was deliberate for Thursday. New York Gov. Andrew Cuomo introduced that purchasing malls within the state might be required to have virus-filtering air con techniques in place in an effort to reopen. AMC is pushing again the reopening date for its theaters to July 30. Beforehand, the corporate had deliberate on beginning to reopen theaters in mid-July in time for the releases of “Tenet” and “Mulan,” each of which have been delayed into August.

Chinese language President Xi Jinping has signed the Hong Kong nationwide safety regulation, state media reported Tuesday. Few particulars have been unveiled, however Beijing stated the laws is geared toward prohibiting secession, subversion of state energy, terrorism actions and overseas interference. It is unclear when it can take impact. When the regulation was proposed final month, it reignited protests in Hong Kong. Critics see the safety regulation as a method to undermine the autonomy promised to Hong Kong for 50 years after it was handed over from the U.Ok. to China on July 1, 1997. Wednesday marks the anniversary of the handover.

— The Related Press contributed to this report.