Small gain to start week | Treasury to borrow $3 trillion | Buffett sale knocks airline stocks
EDITOR'S NOTE
The U.S. economy is slowing reopening, but while the number of new coronavirus cases has leveled off, it remains stubbornly high, according to data from Johns Hopkins University.
All eyes are on New York state where the daily number of hospitalizations and new deaths related to Covid-19 are falling, but Gov. Andrew Cuomo said the declines are not as steep as officials had hoped. Stocks were down for most of the day on Monday, but ended the session with gains.
Airline stocks tumbled following Warren Buffett's remarks on Saturday that Berkshire Hathaway had pulled investments in the nation's four largest airlines.
The investing magnate also said he was somewhat wary of the Federal Reserve's multitrillion-dollar response to the coronavirus pandemic.
"We're doing things that we really don't know the ultimate outcome to," he said. "I think in general they're the right thing, but I don't think they're without consequences, and I think they could be of extreme consequences if pushed far enough."
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