What Are Sinking Funds? | Goldman Sachs Bets On Masks, FedEx Earnings Report Rallies & Mnuchin Elaborates On COVID Economic Impact – Daily Financial News & Insightsfor Tuesday, June 30, 2020

Goldman Sachs Bets On Masks, FedEx Earnings Report Rallies & Mnuchin Elaborates On COVID Economic Impact – Daily Financial News Summary for Tuesday, June 30, 2020 The final day of June resulted in the completion of the best quarter that Wall Street has seen since 2001. The Dow Jones rose by 0.85%, the NASDAQ by 1.87%, and the S&P 500 by 1.54%. The Dow Jones was up 16.9% for the quarter, and the S&P 500 was up 19.3% for the quarter. Gold rose sharply by 1.1% today. It settled at $1,800.50 per ounce, which is the first time it has been so high since 2011. Treasury Secretary Mnuchin spoke to the House Financial Services Committee today about the United State’s economy’s chance of recovery: “We are in a strong position to recover because the administration work[ed] with Congress on a bipartisan basis to pass legislation and provide liquidity to markets in record time. In addition, the PPP is keeping tens of millions of workers connected to their jobs. Economic impact payments are also helping millions of families and workers through these challenging months.” He also spoke about expecting more stimulus funding to be sent soon. Dr. Anthony Fauci of the National Institute of Allergy and Infectious Diseases spoke about Covid19 before a Senate panel today. He said that if Americans do not start to change their daily behavior, the rate of new infections could increase to 100,000 per day. Currently, the country is averaging around 40,000 new cases per day. READ MORE: https://callputstrike.com/2020/06/30/goldman-sachs-bets-on-masks-fedex-earnings-report-rallies-mnuchin-elaborates-on-covid-economic-impact-daily-financial-news-summary-for-tuesday-june-30-2020/ Financial Planning: What is a Sinking Fund? Many Americans have never heard of the term ‘sinking fund.’ Not having knowledge about this means that they are depriving themselves of the financial benefit of using a sinking fund. When polled, about 40% of Americans stated that they would struggle with covering a $400 emergency expense. Sinking funds are methods of putting money aside for a rainy day, so it is not as difficult to pay for something in an emergency situation. How Does it Work? https://callputstrike.com/2020/06/30/financial-planning-what-is-a-sinking-fund/