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A Wall Street chief strategist says US lawmakers need a deal on fiscal aid – even a small one will help save consumer spending

A Wall Street chief strategist says US lawmakers need a deal on fiscal aid – even a small one will help save consumer spending

FILE PHOTO: Traders gather at the booth that trades Abbott Laboratories on the floor of the New York Stock Exchange, December 10, 2012.   REUTERS/Brendan McDermid
Traders gather at the booth that trades Abbott Laboratories on the floor of the New York Stock Exchange


  • Crossmark Global Investment’s chief market strategist Victoria Fernandez told CNBC’s “Trading Nation” Tuesday US lawmakers need to decide on a fiscal package, even if it is smaller in size, to save consumer spending.
  • She said consumers have almost spent their consumer checks which is worrisome going into the holiday season. 
  • “Even if it is a smaller number, or a one-time check, it is going to give support to that consumer as we go into the last quarter of the year and that is where you need to start looking at your portfolio to balance that out a little bit,” she said. 
  • She said investors should look at a combination of growth and value stocks, as well as different segments of the financial services sector to weather uncertainty. 
  • Visit Business Insider’s homepage for more stories.

US lawmakers need to decide on a fiscal stimulus package, even if it is a smaller one, to prop up consumer spending, particularly going into the holiday shopping period, Victoria Fernandez, chief market strategist at Crossmark Global Investments told CNBC’s”Trading Nation” Tuesday 

“We really need that consumer to hang in there. For that to happen, we will need to see another round of stimulus, even if it is a smaller deal, or not the $600 we saw before,” she said. “Even if it is a smaller number, or a one-time check, it is going to give support to that consumer as we go into the last quarter of the year and that is where you need to start looking at your portfolio, to balance that out a little bit.”

With around 10 million Americans still out of work, many consumers will have long since spent their

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Car finance market up slightly in August despite drop in demand

Car finance market up slightly in August despite drop in demand

The consumer new car finance deals agreed in August were worth more than £1bn,

The UK consumer car finance market grew slightly in August despite a decline in the overall new car market, according to new figures. Data from the Finance and Leasing Association (FLA) showed a small increase in the number of cars acquired by private customers using finance deals.

Over the course of the month, private consumers agreed finance deals on almost 178,000 cars, up one percent on the same month in 2019. In total, FLA members dished out more than £2.7 billion in advances – an increase of eight percent on August last year.

The lion’s share of the growth was found in the used car market, where private customers acquired some 128,126 cars on finance last month. That’s a two-percent increase on the same period in 2019, but the value of those deals shot up by a massive 10 percent. As a result, the total value of advances came to £1.67 billion.

More on the car finance market:

The new car market saw more modest results, with the number of cars acquired on finance fell by one percent to just over 49,500. That is, perhaps, no surprise given figures from the Society of Motor Manufacturers and Traders (SMMT) showed a drop in new car sales of almost six percent during August.

More surprising, though, is that the value of advances still rose by five percent to hit £1.04 billion, despite the doom and gloom surrounding the market. But figures also show finance deals have accounted for around 93.5 percent of new car sales in the past 12 months.

New cars in car dealership showroom

But with the impact of coronavirus, the lockdown and the current economic uncertainty shrouding the country and the car industry, the

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Used vehicles lift U.S. consumer prices, but inflation slowing

Used vehicles lift U.S. consumer prices, but inflation slowing

By Lucia Mutikani

WASHINGTON (Reuters) – U.S. consumer prices increased for a fourth straight month in September, with the cost of cars and trucks rising by the most since 1969, though inflation is slowing amid labor market slack as the economy gradually recovers from the COVID-19 recession.

While the benign report from the Labor Department on Tuesday will have no direct impact on monetary policy, it should allow the Federal Reserve to keep interest rates near zero for a while and continue with massive cash infusions as it nurses the economy back to health.

The U.S. central bank is now more concerned about the labor market and has embraced flexible average inflation targeting, which in theory could see policymakers tolerate price increases above its 2% target for a period of perhaps several years to offset years in which inflation was lodged below its goal.

At least 25.5 million people are on unemployment benefits.

The consumer price index rose 0.2% last month after gaining 0.4% in August. The CPI advanced 0.6% in both June and July after falling in the prior three months as business closures to slow the spread of the coronavirus weighed on demand.

A 6.7% jump in the prices of used cars and trucks accounted for most of the increase in the CPI last month. That was the biggest gain since February 1969 and followed a 5.4% advance in August. There were also increases in the costs of new vehicles and recreation. But prices for motor vehicle insurance, airline fares and apparel fell.

In the 12 months through September, the CPI increased 1.4% after rising 1.3% in August. Economists polled by Reuters had forecast the CPI climbing 0.2% in September and rising 1.4% year-on-year.

Excluding the volatile food and energy components, the CPI rose 0.2% last month after

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FBL Financial Group Schedules Third Quarter 2020 Earnings Release Date, Conference Call and Webcast

FBL Financial Group Schedules Third Quarter 2020 Earnings Release Date, Conference Call and Webcast


FBL Financial Group, Inc. (NYSE: FFG) will announce its third quarter 2020 earnings approximately 15 minutes after the close of the market on Thursday, November 5, 2020. The third quarter earnings release and financial supplement will be posted on the FBL Financial Group website (www.fblfinancial.com) at that time.


FBL Financial Group will hold a conference call to discuss third quarter 2020 earnings on Friday, November 6, 2020 at 11:00 a.m. ET. The call will consist only of prepared comments by management; there will not be a question and answer session. The conference call will be webcast live on the Internet. Investors and interested parties who wish to listen to the call on the Internet may do so at www.fblfinancial.com.


The call may also be accessed by telephone at (866) 218-2403. A transcript of the prepared comments from the call, as well as an audio replay, will be available shortly after the call on FBL Financial Group’s website. An audio replay will be available via telephone through November 20, 2020 by calling (877) 344-7529 and entering code 10137330 when prompted.


FBL Financial Group is a holding company with the purpose to protect livelihoods and futures. Operating under the consumer brand name Farm Bureau Financial Services, its affiliates offer a broad range of life insurance, annuity and investment products distributed by multiline exclusive Farm Bureau agents. Helping complete the financial services offering, advisors offer wealth management and financial planning services. In addition, FBL Financial Group manages all aspects of two Farm Bureau affiliated property-casualty insurance companies for a management fee. Headquartered in West Des Moines, Iowa, FBL Financial Group is traded on the New York Stock Exchange under the symbol FFG. For more information, please visit www.fblfinancial.com and www.fbfs.com.

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Regions Bank Announces Disaster-Recovery Financial Services Following Hurricane Delta

Regions Bank Announces Disaster-Recovery Financial Services Following Hurricane Delta

Deferred payments and additional offers available as recovery moves forward.

Regions Bank on Tuesday announced a series of financial services, including payment extensions and the waiving of certain fees, to help people and businesses in portions of Louisiana1 that were impacted by Hurricane Delta.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201013005061/en/

Regions Bank is ready to serve people and businesses in southern Louisiana that have been impacted by Hurricane Delta. (Photo: Business Wire)

“In addition to the services we’re announcing today, Regions Bank is ready to offer financial advice and guidance based on our experience with disaster recovery,” said Steve Nivet, regional consumer banking executive for Regions Bank. “We encourage clients to visit our branches, consult Regions.com or give us a call to let us know about your individual needs. We have worked with clients through many natural disasters, including Hurricanes Laura and Sally. And we are here – ready to serve – as we recover from Hurricane Delta together.”

Disaster-recovery financial services available for a limited time in impacted areas1 include:

  • No check-cashing fee will be assessed for FEMA-issued checks cashed at Regions branches in impacted areas.2

  • Regions will waive or refund fees charged by non-Regions ATMs for bank clients in impacted areas for 15 days beginning Tuesday, Oct. 13.3

  • Regions will waive ATM surcharge fees for non-Regions clients using the bank’s ATMs in impacted areas for 15 days beginning Tuesday, Oct. 13.4

  • One penalty-free CD withdrawal is available.5

  • A 0.50% interest rate discount is available on new personal unsecured loans.6

  • Payment extensions are available for current credit card holders. People in affected areas can contact Regions to discuss individual needs.7

  • Regions Mortgage Disaster Relief purchase and renovation loan programs are available.

  • Business loan payment deferrals will

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