Weekly jobless claims counts are inaccurate and the unemployed are being underpaid, watchdog says
Erin Scott/Bloomberg via Getty Images The Department of Labor has been both miscounting the number of people receiving unemployment benefits and underpaying those under a special program instituted to address the coronavirus pandemic, according to a government watchdog report Monday....
October pending home sales fall unexpectedly, as high prices take their toll on buyers
People wait to visit a house for sale in Floral Park, Nassau County, New York. Wang Ying | Xinhua News Agency | Getty Images Strong, pandemic-induced demand for housing is still there, but buyers may now be hitting an affordability...
Winklevoss twins say bitcoin will be the decade’s best performing asset, see ’25x’ gains from here
Cameron (L) and Tyler (R) Winklevoss. Adam Jeffery | CNBC Early bitcoin investors and founders of crypto-exchange Gemini, Tyler and Cameron Winklevoss, see bitcoin gaining more than 25 times its current value as more investors adopt the cryptocurrency as an...
Stock futures fall slightly as Wall Street is set to wrap up a historic November
Stock futures dipped in overnight trading on Sunday as the market looks set to finish November with historically strong gains. Futures on the Dow Jones Industrial Average fell 80 points. S&P 500 futures traded 0.1% lower and Nasdaq 100 futures...
Congress stalled on stimulus talks and time is running out as millions face a ‘benefits cliff’
Bill Clark | CQ-Roll Call, Inc. | Getty Images “If we are going to get another round of stimulus, I can’t imagine that won’t be included in it,” said Michael Strain, director of economic policy studies at right-leaning think tank...
S&P 500 closes at another record Friday, gains 2% on week
Stocks rose on Friday as traders wrapped up a strong week amid decreasing political uncertainty and positive vaccine news. The S&P 500 gained 0.3% to end the day at 3,638.35, notching a record closing high. The Nasdaq Composite advanced 0.9%...
Stocks making the biggest moves midday: Amazon, Tesla, AstraZeneca, Carnival & more
An Amazon.com Inc worker prepares an order in which the buyer asked for an item to be gift wrapped at a fulfillment center in Shakopee, Minnesota, U.S., November 12, 2020. Amazon.com Inc | Reuters Check out the companies making headlines...
Fed weighed adjusting bond purchases to provide more help to economy ‘fairly soon,’ minutes show
Federal Reserve officials indicated at their last meeting that adjustments could be made soon to their bond-buying program as the central bank looks to alternate ways it can support the economy. The Fed on Wednesday released minutes from its Nov....
14 million workers face losing unemployment benefits at the end of December
Capitol Building in Washington, D.C. DEA / M. BORCHI | De Agostini | Getty Images Nearly 14 million American workers are collecting unemployment benefits through programs that will lapse at the end of the year without congressional action. Expiring aid...
Another record low mortgage rate just caused demand to jump for both refinances and home purchases
Mortgage interest rates have set record lows more than a dozen times this year, and last week there was yet another. That caused mortgage application volume to increase 3.9% compared with the previous week, according to the Mortgage Bankers Association’s...
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