Virus relief delay could spark an economic setback, Crossmark's Victoria Fernandez warns (via TradingNation)
To help Americans cope with the impasse on the Hill,to extend key relief programs. But the move faces legal questions because Congress controls federal funding.
"It makes it a little bit more vulnerable for the sheer fact that priced into the market at this point is another stimulus package," said Fernandez. "Everyone, including myself, anticipated that we would see a package come to fruition prior to the Senate leaving for recess."from hitting all-time highs. On Friday, the index closed 0.6% from a record.
"We keep bumping up against that 3,386 level," she noted. "If we don't get a package that comes through, a stimulus package, then I think we can expect to see a kind of mid to high single digit [percent] pullback." Fernandez, who oversees $4.9 billion in assets under management, has been in the cautious camp. In early June, she warned
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