Of course it does. Its worth repeating every step of the way..it needs to be continually known that the fed is 999999% backstopping every tiny micro ounce of gains in this market.
This is one of the hold ups on passing the next stimulus bill.....the extra enhanced benefits that we all know are paying people more than what they were making....this argument over lowering these enhanced benefits will delay the stimulus bill, but not delay it for months, but maybe a week or...
nothing new out of the fed today. Just more free trillions and making wallstreet happy.
https://www.cnbc.com/2020/07/29/powell-is-expected-to-say-the-fed-will-keep-doing-whatever-it-can-while-it-considers-its-next-move.html
Why? Because its trillions more in free printed money for the economy markets. Thats why. Free handouts on top of more free handouts. Juice the markets.
As i said weeks ago everything and anything will be extended. They will not let any handouts expire. Talk of another multi trillion dollar stimulus package is in the works with extensions in place to keep wallstreet happy happy happy...