Stock market live updates: Tech stocks jump, futures flat, awaiting jobless claims
This is a live blog. Please check back for updates. 7:41 am: Facebook shares jump on ad revenue ‘stability’ Shares of the social media giant jumped more than 8% in the premarket after the company reported “stability” in its ad...
Plunge in health-care spending a big reason US economy sank in first quarter
A COVID-19 patient is delivered by ambulance to Wyckoff Heights Hospital in Bushwick, New York, Thursday, April 2nd, 2020. B.A. Van Sise | NurPhoto | Getty Images The coronavirus pandemic has put health care at the forefront of the nation’s...
Trump to meet with executives from Waffle House, Wynn, Toyota, others to discuss reopening economy
President Donald Trump speaks during a meeting with supply chain distributors in the Cabinet Room of the White House in Washington, U.S., March 29, 2020. Al Drago | Reuters Executives from Wynn Resorts, Hilton, Toyota North America and Waffle House are...
Over 50% of department stores in malls predicted to close by 2021, real estate services firm says
First, the department store closes. Then, the apparel shops try to scoot out of deals. This is a one-two punch that could trigger a wave of malls shutting for good over the next 12 months. More than 50% of the...
Powell says the economy will likely need more support from the Fed for the recovery to be ‘robust’
Federal Reserve Chairman Jerome Powell said more stimulus is needed to ensure a robust economic recovery from the coronavirus crisis. “It may well be the case that the economy will need more support from all of us if the recovery is...
Fed pledges to keep rates near zero until full employment, inflation come back
The Federal Reserve painted a dour picture of current conditions and pledged Wednesday to continue its historically aggressive policy stance until it is comfortable that the U.S. economy is back on its feet. Following this week’s Federal Open Market Committee...
The economic decline in the first quarter reveals even weaker consumers and more unknowns ahead
A person walks by rows of stores closed during the outbreak of the coronavirus disease (COVID-19) in New York, March 28, 2020. Andrew Kelly | Reuters Consumers reined in spending faster than expected in the first quarter, probably even before...
Pending home sales tank nearly 21% in March, but Realtors claim prices will hold up
A sale pending sign is posted in front of a home for sale in San Francisco, California. Justin Sullivan | Getty Images Home sales took a deep dive in March as the coronavirus pandemic shut down much of the economy...
8-month ‘structured lockdowns’ could halve economic damage from the coronavirus, research claims
A pedestrian wearing a face masks crosses an empty street amid the coronavirus outbreak on April 25, 2020 in San Francisco, California. Liu Guanguan | China News Service via Getty Images Enforcing eight-month “structured lockdowns” could halve the economic destruction...
US GDP shrank 4.8% in the first quarter amid biggest contraction since the financial crisis
Gross domestic product fell 4.8% in the first quarter, according to government numbers released Wednesday that provide the first detailed glimpse into the deep damage the coronavirus wreaked on the U.S. economy. Economist surveyed by Dow Jones had expected the...
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