|Symbol||Name||Last Close||Mkt Cap||DailyStocks'
|POST||Post Holdings, Inc.||$100.15||$6.67B||N/A|
The U.S. government has started sending $1,200 checks to Americans to help ease the financial pain caused by shutting down the economy to fight the deadly coronavirus. By Wednesday, 80 million people are expected to receive a direct deposit in their bank account, Treasury Secretary Steven Mnuchin said.
The checks are the centerpiece of the U.S. government's economic relief package, and many Americans have taken to social media to celebrate the arrival of the money by posting photos of the money hitting their bank account. Singles earning up to $75,000 a year receive a payment of $1,200. Married couples earning up to $150,000 a year receive a payment of $2,400. Parents receive an additional $500 for each child under 17.
Early evidence indicates Americans are using the money to buy the basics, including food and gas. Netspend, which processed nearly $1 billion in relief payments by Monday, said its customers are using the government money "for groceries, fast food, pharmacies and gas, as well as withdrawing cash from ATMs." More than half of the transactions were PIN-based at AMTs or grocery stores, and about a quarter were done online.
Daniel Ruffner received his payment Friday night on his Netspend prepaid debit card. It was a huge relief since he's out of work. He is a cook at a little restaurant that's currently closed at a popular upstate New York campsite. He used some of the $1,200 money to buy groceries and pay the heating and internet bills. The rest is going toward rent.
"I've just been stocking up on food and paying all of the bills. It's nice to see finally be able to see my bills go to zero," said Ruffner, who lives in Rochester and takes care of his mother and son.
Some Americans like Camilla Chavez of Delaware say their check is "pending" in their bank account. Chavez banks with a credit union and saw...
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