Today is Monday, June 8 which means at the end of today our region will have completed day 11 of the 28-day period of Phase 3. So, there are 17 days to go before the opening of Phase 4 as long as all the goals are met and continue on the same path. After looking at the benchmarks this morning, all is on course for approval.
Next Funding Bill
We may have to keep waiting on the next round of funds from the Federal government. We reviewed on Friday the encouraging number of jobs added to the economy in May (2.5 million to be exact) and the resulting drop in the unemployment rate. That positive news however may have more firmly put the brakes on any compromise of new relief. The House passed HEROES Act commits an additional $3.5 trillion to the already passed $3 trillion in funds. Senate Republicans will not give any attention to that bill though and now have more fuel for holding off any an agreement that may creep over $1 trillion. Chances are this negotiation could push out to the end of July before the August recess.
Stock Market Bounce Back
The stock market rallied once again today, pushing the S&P 500 into the positive for the year as the market makes its miraculous rebound. It seems as if investors are growing more and more optimistic about a speedy economic recovery as states continue to reopen. At one point this year, the S&P 500 was down more than 30%. It is now positive for 2020 by 0.05%. The Dow Jones Industrial Average traded higher as well, trimming its 2020 losses to 3.3%. The Nasdaq Composite was up too, bringing its year-to-date gains to 10.6%.
Senator Duckworth Town Hall
The Small Business Advocacy Council is hosting a town hall tomorrow (Tuesday, June 9th) at 2:15 pm with Senator Duckworth. They will be discussing the difficulties facing property owners, the status of PPP loans, and what is on the horizon in Washington. You can register for this video conference here: https://us02web.zoom.us/webinar/register/WN_fP-pRTlERvewCU7XhSl3qQ
Will County Health Department Announces Mobile Testing
The Will County Health Department’s (WCHD) Community Health Center (CHC) is using its wheels. The CHC’s Mobile Medical Unit (which also operates as a Mobile Dental Unit) has joined with the Illinois Department of Public Health (IDPH) for a special program of Coronavirus testing. Now that Governor Pritzker’s office has provided testing kits for Community Health Centers throughout the state, the CHC’s mobile van can drive to high-risk community locations for COVID-19 testing that is processed through Illinois Department of Public Health laboratories.
Finally, don’t forget that the Chamber is hosting our own Town Hall this Wednesday, June 10 at 1:00 pm to talk about – Focusing on Recovery from the COVID-19 Pandemic and Moving Forward into the Next Phase.
Please join the Joliet Chamber for a free, interactive virtual conference with community leaders from various business sectors, including education, healthcare, banking, economic development, and governmental affairs to discuss what to expect from moving forward.
We will be joined by:
Dr. Arvid Johnson, President, University of St. Francis
Ruth Colby, President & CEO, Silver Cross Hospital
Marc Gorsch, SVP/Joliet Market President, Hometown National Bank
Steve Jones, Interim City Manager, City of Joliet
Mike Paone, VP of Government Affairs, Joliet Chamber of Commerce
Joliet Region Chamber of Commerce & Industry Staff and Board of Directors
Vice President – Government Affairs
Joliet Region Chamber of Commerce & Industry