The FBI is investigating a Republican senator.
Sen. Richard Burr is under investigation related to his personal sale of stock.
Burr sold stocks in mid-February as he became aware of the coronavirus outbreak. He had been briefed on the virus and the economic fallout.
On Wednesday, his smartphone was seized by FBI agents.
The Republican senator stepped down as chairman of the Senate Intelligence Committee as a result of the investigation.
The agency has also been investigating similar investment moves by other U.S. senators. There is concern that these individuals used confidential government briefings as the basis for their investment decisions.
The Big News…
Wisconsin Court Strikes Down “Stay at Home Order”
The Wisconsin Supreme Court struck down the governor’s stay-at-home order. Wisconsin has over 10,000 coronavirus cases. The governor continues to urgent residents to stay home and continue with social distancing.
36.5 Million Newly Unemployed Americans
Another 3 million jobs were lost last week. That brings the total new jobless claims to 36.5 million in just two months. The number of new weekly claims continued to fall on a week-over-week basis.
Economic Crisis Hits Low-Income Americans
Americans working in low-paying jobs have felt the greatest pain. The Fed reported that 40% of households earning less than $40,000 per year have lost at least one job.
New $1 Trillion Stimulus
Republicans on Capitol Hill are starting work on another stimulus bill. This one is expected to top $1 trillion and include huge spending on infrastructure projects including 5G. Go here for the top All American 5G stocks to BUY NOW.
The Coronavirus Numbers
Here are the numbers from Thursday at 4 p.m. ET:
- 4,500,927 Infected worldwide
- 302,066 Deaths
- 1,448,533 Infected in the U.S.
- 86,469 Deaths in the U.S.
Stocks continued their multi-day decline on Thursday morning.
The markets have not been pleased with testimony from health experts on Capitol Hill. Plus, comments from Federal Reserve Chairman Jerome Powell indicate that the economic recovery will be slow.
Stocks reversed course in the morning Thursday and closed the trading session with 1% gains.
So, what are the best stocks to BUY in this market?
Yours in Health & Wealth,