President Joe Biden's $1.9 trillion coronavirus relief plan proposes a new round of stimulus checks that will give $1,400 to most Americans. CBS News reports that arrivals of these checks could be months away.
Biden's American Rescue Plan is facing pushback from some Republican lawmakers who are scoffing at its price tag. Others are concerned that the plan isn't targeted enough, and that funds will go to gainfully employed people who don't need them.
Related: How Does the New Stimulus Package Affect You?
Speaking to the press on Monday, President Biden said, "Well, there's a legitimate reason for people to say, 'Do you have the lines drawn the exact right way? Should it go to anybody making over X number of dollars, or why?'" He added, "I'm open to negotiate those things. But this is all a bit of a moving target in terms of the precision with which this goes."
Senate Majority Leader Chuck Schumer said he's aiming to pass stimulus by mid-March, which is when the current extended unemployment benefits, such as an extra $300 in weekly aid, expire.
Read the full analysis at CBS News.
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7 Tech Stocks To Buy On Sale
This too shall pass. Those four words should be taped to the computer screen of every investor. If you own shares of the tech sector, you’ve seen your portfolio take quite a hit. Tech stocks were largely immune from the effects of the pandemic.
However, as investors are looking to rebalance their portfolios, tech stocks were obvious targets for some profit-taking. And at the end of the day, that’s what I believe the latest tech selloff amounts to. Stocks don’t move in one direction all the time. Sure, there may be some saber-rattling about breaking up big tech. But with an election in less than two months, nobody will have the political will to do anything.
That doesn’t mean that it’s all going to be smooth sailing. Sure, the Federal Reserve did its part by promising low-interest rates until the end of time (or at least through 2023 whatever comes first). But the rest of 2020 is likely to be volatile for stocks.
First, there’s still the novel coronavirus hanging around. It’s not going to simply disappear after election day. That will take some combination of a vaccine and/or therapeutic. And all the likely candidates seem to be getting farther away the deeper into clinical trials they get.
And we have an election. But we are not likely to know the winner of the election on election night. In fact, for those who remember the spectacle of “hanging chads”, this election could make that one look like amateur hour.
The bottom line is there will be uncertainty. But there are always gains to be found, particularly now that their stock price has come down a little bit. Here are seven tech stocks that you can look to add or increase a position in now that they’re trading at a discount.
View the "7 Tech Stocks To Buy On Sale".