Fed lowers minimum loan level for small business lending program
The Federal Reserve has lowered the barriers on its lending program for smaller businesses as part of an effort to broaden the appeal of the sparsely used facility. In another pair of tweaks to its Main Street Lending Program, the...
Stocks making the biggest moves midday: Twitter, Facebook, Apple, Amazon & more
Check out the companies making headlines in midday trading. Twitter – Shares dropped more than 20% after the social media company reported user growth that fell short of expectations amid heightened scrutiny and the challenge of handling posts around the U.S....
Election outcome shouldn’t mess up the bullish December trend, CFRA’s Sam Stovall finds
CFRA’s Sam Stovall acknowledges the market may feel like a rollercoaster over the next few weeks. But he believes any damage should be contained to November regardless of who wins the presidency. “Investors say ‘okay, usually by then we know...
U.S. GDP booms at 33.1% rate in Q3, better than expected
Coming off the worst quarter in history, the U.S. economy grew at its fastest pace ever in the third quarter as a nation battered by an unprecedented pandemic started to put itself back together, the Commerce Department reported Thursday. Third-quarter...
There was a surprise drop in September home sales as buyers were priced out
A Sale Pending sign is seen in front of a home in Miami, Florida. Joe Raedle | Getty Images Potential homebuyers may be hitting the limit of what they can afford. Pending home sales, a measure of signed contracts on...
U.S. weekly jobless claims total 751,000, vs 778,000 expected
The number of first-time unemployment-benefits filers fell to the lowest level in the pandemic, declining for a second straight week, the Labor Department reported Thursday. Initial weekly U.S. jobless claims came in at 751,000 for the week ending Oct. 24,...
Sharp third-quarter growth will show the economy regaining ground, but it’s still in a hole
People wear face masks while visiting Union Square as the city continues the re-opening efforts following restrictions imposed to slow the spread of coronavirus on October 24, 2020 in New York City. Noam Galai | Getty Images Third quarter GDP...
Brace for a ‘fairly scary time’ on Wall Street, Wells Fargo warns
Wells Fargo Securities’ Michael Schumacher has a message for investors: Buckle up. The firm’s head of macro strategy warns Wednesday’s market turbulence may just be a preview of what’s ahead. “When you think about the U.S. elections, Covid worsening [and]...
As Washington delays stimulus, the Fed is running out of ways to help the economy
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a House Select Subcommittee on the Coronavirus Crisis hearing on September 23, 2020 in Washington, DC. Stefani Reynolds | Pool | Getty Images Federal Reserve officials have been pressing Congress...
The post-Covid ‘zombification’ of advanced economies is here to stay, EIU warns
People pass by The New York Stock Exchange. Angela Weiss | AFP | Getty Images LONDON — The coronavirus pandemic is likely to cause a long-lasting “zombification” of the global economy, a prominent research firm warns. Agathe Demarais, global forecasting...
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