Jobless claims in the US are up for the first time in months as the pandemic continues to surge in some parts of the country. Meanwhile, the government is set to release the next round of stimulus funding to support the economy.
RT’s Boom Bust talks to Todd Horwitz of Bubba Trading about the new stimulus and the stock market’s reaction to that.
“We know that at some point markets are going to crack again, and probably hit the lows that we saw in March,” says Horwitz.
According to him, when you look at markets, “this is a typical type of action and a possible direction change. We can’t time it, but we can watch the action and be prepared for it.”
“What’s very important, we are going to get some nasty days no matter what happens or where we’re going, the market will get some nasty sell-offs,” Horwitz added.
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