Treasury Secretary Mnuchin says ‘we can’t shut down the economy again’
Treasury Secretary Steven Mnuchin told CNBC on Thursday that shutting down the economy for a second time to combat the spread of Covid-19 isn’t a viable option and could cause even more headaches for Americans. His comments came as Wall Street...
More expensive meat drives up U.S. producer prices
A worker wearing a protective face mask operates a forklift to move boxes of face shields ready for shipment at the Cartamundi-owned Hasbro manufacturing facility in East Longmeadow, Massachusetts, April 29, 2020. Adam Glanzman | Bloomberg | Getty Images U.S....
Weekly unemployment claims better than expected as workers leave jobless rolls
The pace of unemployment claims declined again last week as the U.S. jobs market continued its plodding recovery from the coronavirus pandemic, Labor Department data showed Thursday. Initial claims totaled 1.54 million, compared with the 1.6 million expected from economists...
Stock market live updates: Futures sharply lower, awaiting jobs data, second wave of cases?
A trader walks in front of the New York Stock Exchange on May 26, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images This is a live blog. Check back for updates. 7:24 am: Reopening...
The company that saved Barneys, Forever 21 while in bankruptcy says it’s time to ‘buy low, sell high’
Authentic Brands Group Chief Executive Jamie Salter. Source: Authentic Brands Group The company that has purchased retailers such as Aeropostale, Barneys New York and Forever 21 out of bankruptcy is looking for buying opportunities during the coronavirus pandemic. “My strategy...
Fed sees interest rates staying near zero through 2022, GDP bouncing to 5% next year
The Federal Reserve kept interest rates near zero and indicated that’s where they’ll stay as the economy recovers from the coronavirus pandemic. Along with the rate decision, central bankers projected Wednesday that the economy will shrink 6.5% in 2020, a...
U.S. consumer prices post third straight monthly drop
U.S. consumer prices fell for a third straight month in May and underlying inflation was weak as demand remained subdued amid a recession caused by the COVID-19 pandemic. The Labor Department said on Wednesday its consumer price index dipped 0.1%...
Mortgage demand from homebuyers amazes again, now up 13% annually despite rising rates
Blake Nissen | The Boston Globe via Getty Images Rising interest rates did nothing to deter an onslaught of mortgage demand from homebuyers. Applications for loans to purchase a home rose 5% last week from the previous week and were...
Trump wants to delist Chinese companies from U.S. exchanges. That could hurt Wall Street
A new bill that targets Chinese companies listed on U.S. exchanges could not only “backfire” on American investors, but also hurt Wall Street — which will lobby against the legislation, a Harvard professor told CNBC on Tuesday. Amid a tide of...
Job openings tumble to lowest level in more than 5 years
Flextronics International Apple factory employees work on Apple Mac Pro computer assembly in Austin, TX, November 20, 2019. Tom Brenner | Reuters Job openings through the first full month of the coronavirus pandemic reached their lowest level in more than...
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