Big jobs gain ‘has bought the Fed some time,’ but more help eventually will be needed
The Federal Reserve Bank building Kevin Lamarque | Reuters In addition to signaling a possible turn in the economy, the big job gains in May give the Federal Reserve some more wiggle room before its next policy move. Markets will...
Auto loan payments soared to yet another record in the first quarter
Customers inspect a Fiat Chrysler Automobiles NC Dodge Grand Caravan minivan at a Carvana Co. location in Westminster, California, U.S., on Thursday, May 28, 2020. Patrick T. Fallon | Bloomberg | Getty Images As the coronavirus was spreading from China...
While 21 million Americans were unemployed as of May, long-term joblessness hasn’t seen an uptick
Unemployment levels over the past two months have been the worst since the Great Depression era. Yet there’s room for optimism. One reason: Long-term unemployment in the U.S. hasn’t yet seen an uptick. But long periods of joblessness — those exceeding...
Astonishing market moves: Retailer Michaels surges a record 58% on a JPMorgan upgrade
Shoppers enter a Michaels store in Miami, Florida. Scott McIntyre | Bloomberg | Getty Images Arts and crafts retailer Michaels Stores is having its best day ever. The reason behind this monster move was a simple bullish call from JPMorgan. Shares...
The U.S. entered a recession in February, according to the official economic arbiter
New Jersey First Lady Tammy Murphy hands out bags containing meals, face masks and other personal protective supplies to residents in need outside the NAN Newark Tech World during the outbreak of the coronavirus disease (COVID-19) in Newark, New Jersey,...
FX: EU harmony strikes right note for single currency
By the time European Union leaders announced on July 21 that they had agreed a €750 billion package to help member states recover from the impact of coronavirus, EUR/USD had risen to 1.1475 from 1.1176 just a month earlier. Expectations...
China’s online grocery platform Dada debuts on the Nasdaq, calls for greater scrutiny on markets
Dada Founder and CEO, Philip Kuai, at the company’s Nasdaq IPO celebration held in Shanghai on June 5, 2020. Courtesy of Dada SHANGHAI – Chinese grocery delivery company Dada is confident it can stand up to U.S. scrutiny as a...
Sustainable investing is set to surge in the wake of the coronavirus pandemic
The coronavirus pandemic has altered society in immeasurable ways, including, of course, investing. Stocks that benefited from people staying home, such as Netflix and Zoom Video, outperformed expectations in the past few months, while retailers and airline companies, among others,...
The widely cited ‘disconnect’ between Wall Street and Main Street suddenly appears less confounding
A “Now Hiring” sign advertising jobs at Lowe’s is seen as the spread of the coronavirus disease (COVID-19) continues, in Homestead, Florida, U.S., April 17, 2020. Marco Bello | Reuters Quite unexpectedly and rather suddenly, investors have been given a...
May sees biggest jobs increase ever of 2.5 million as economy starts to recover from coronavirus
Employment stunningly rose by 2.5 million in May and the jobless rate declined to 13.3%, according to data Friday from the Labor Department that was far better than economists had been expecting and indicated that an economic turnaround could be...
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