U.S. Economy

Asian markets mostly lower after retreat on Wall Street Nikkei ticks up, while stocks sink in ShanghaiShares were mostly lower in Asia on Wednesday after Wall Street pumped the brakes on its recent rally.

Rep. Ilhan Omar holds off challenger in Minnesota Democratic primary Democrat Tina Smith face Republican Jason Lewis for Senate seatRep. Ilhan Omar of Minnesota on Tuesday survived a stiff Democratic primary challenge from a well-funded opponent who tried to make an issue of her national celebrity.

QAnon supporter who made racist videos wins Republican primary in Georgia High-profile Republicans had spoken out against Marjorie Taylor GreeneMarjorie Taylor Greene, a businesswoman who has expressed support for the far-right conspiracy theory QAnon and been criticized for a series of racist comments, has won the Republican nomination for Georgia’s 14th Congressional District.

Trump Rips Kamala Harris as ‘Meanest, Most Disrespectful’ Senator Here’s what you need to know about the impact of Covid-19 to navigate the markets today.

Federal Reserve Reduces Borrowing Costs for States, Municipalities The Fed said the changes will ensure the municipal liquidity facility provides a backstop to assist U.S. states and local governments in weathering the pandemic.

Trump rips Kamala Harris as 'meanest, most disrespectful' senatorPresident Donald Trump railed again Joe Biden's newly named running mate, Kamala Harris, during his daily coronavirus press briefing on Tuesday.

Dow, S&P 500 see 7-day winning streaks snap in late selloff, dragged down by tech shares Stocks weaken as Treasury yields riseStocks give up strong early gains to end lower Tuesday, dragged lower by a fall in tech stocks.

Biden lays a trap for Trump in picking Harris President Trump will likely insult and demean Kamala Harris, angering women voters, who already overwhelmingly support Democrats President Trump will likely insult and demean Kamala Harris, angering women voters, who already overwhelmingly support Democrats.

Stock-market ETFs edge higher as Joe Biden picks Kamala Harris as running mate in race for White HouseMoves in stock-index exchange traded funds were muted after presumptive Democratic presidential nominee Joseph Biden Tuesday evening announced that he had selected California Sen. Kamala Harris as his running mate in the 2020 election. The pick is significant because 77-year old Biden would be the oldest president elected since Donald Trump took office in 2017. Harris, who is 55, is the first Black American woman to run on a major national party ticket. She served as California's attorney general and San Francisco's chief prosecutor before becoming a U.S. senator. Biden and Harris will appear together on Wednesday in Wilmington, Del., , Biden's campaign said. Markets view presidential picks through the lens of the impact on the economy and the candidates overall financial market. The SPDR S&P 500 ETF Trust was trading 0.3% higher in after-hours trade Tuesday, the SPDR Dow Jones Industrial Average ETF Trust was trading up 0.2% in after-hours action, while the Invesco QQQ Trust Series I, also known as the Qs, were trading 0.5% higher after the closing bell. In the regular session, the S&P 500 index finished off 0.8% at 3,333, led by declines in utilities , off 2.1%, real estate, down 1.9%, and information technology closing 1.8% lower. Tech and tech-related shares, part of the market's leadership in the recovery from coronavirus-induced lows put in on March 23, have been taken a breather over the past several sessions as investors presumably rotate into other sectors that of the market that have been under-loved. Meanwhile, the Dow Jones Industrial Average closed down 0.4% at around 27,687, while the technology-laden Nasdaq Composite index finished down 1.7% at about 10,783. Biden currently leads incumbent President Donald Trump by 7.2 percentage points in an average of national polls, .

How China Could Retaliate Against Apple and Tesla Stock The current stock prices for the two highflying U.S. companies don’t reflect any potential China risk for TikTok and WeChat bans, Bernstein analyst Toni Sacconaghi writes.

Joe Biden picks Kamala Harris as his running mate Pair to speak in Delaware on WednesdayJoe Biden says he has chosen Sen. Kamala Harris of California to be his running mate, tapping a former rival in the Democratic presidential primary as he takes on Donald Trump for the White House.

S&P Ends Its Winning Streak as Major Indexes Close Down Russia’s announcement of a vaccine and data indicating the coronavirus’s spread is slowing in the U.S. weren’t enough to keep markets aloft.

Uber and Lyft’s ‘day of reckoning’ is finally here Ride-hailing companies have used their money to avoid recrimination for shady business practices for years, but California finally claims a big winInvestors in the two big publicly trading ride hailing giants, Uber and Lyft, have been warned that this day may eventually come - The ride-hailing companies have finally lost in defending their ridiculous hiring practices and are being ordered to comply with a new California law.

Here's how to keep your home, business or classroom safe from COVID-19The safest indoor space is one that constantly has lots of outside air replacing the stale air inside.

The Obamas, AOC and Biden’s running mate: Here’s who’s speaking to the Democratic convention and when Progressives get prime speaking spots as Biden aims to unite partyComing next week to a computer screen or TV set near you: speeches by Michelle Obama, Alexandria Ocasio-Cortez, Joe Biden...and his to-be-announced running mate.

Uber and Lyft must make drivers employees because California law has 'overwhelming' edge, judge saysA California judge ruled Monday that Uber Technologies Inc. and Lyft Inc. must classify their drivers as employees due to a new state law, a decision that threatens the business models of the ride-hailing giants and other gig-economy companies.

Fed’s Barkin says economy could suffer relapse without more Washington stimulus Chorus of Federal Reserve officials urge additional pandemic aidA recession of ‘historic proportions’ could take another turn for the worse if a stalemated Congress fails to provide more financial aid to beleaguered workers and businesses hammered by the coronavirus pandemic, the president of the Richmond Federal Reserve warned

U.S. will eventually experience ‘the normal effects of recession,’ says J.P. Morgan’s Jamie DimonSpeaking to MSNBC's Stephanie Ruhle in an interview that aired on Tuesday, the billionaire CEO of the nation's largest bank by market capitalization forecast a tough road ahead for recovery from out of the recession that Americans currently find themselves mired in.

Eeek! Why I don’t trust S&P 500 index funds (least of all now) Diversification? What diversification?Diversification? What diversification?

Uber and Lyft Could Go Dark in California Over Court Ruling, Analyst Says California judge orders ride-hailing companies to stop classifying drivers as contractors. Here are potential ramifications.

Pelosi and fellow Democrats say Russia poses urgent threat to 2020 election and China and Iran don’t belong in the same conversation ‘Russia is actively 24/7 interfering in our election,’ House speaker saysHouse Speaker Nancy Pelosi said Sunday the threats of interference in the U.S. presidential election from Russia and China are not equal, pointing to a more serious risk with Moscow’s efforts to boost President Donald Trump’s reelection bid.

It’s time for a stock market reality check or the next downturn will surprise us all Be a smarter investor: watch what institutional money managers are doing with their personal portfoliosBe a smarter investor: watch what institutional money managers are doing with their personal portfolios.

Here’s how much a reduction in extra unemployment benefits could slash consumer spending Such research may help inform the debate between Republican and Democratic lawmakers who continue to clash over federal unemployment benefits Such research may help inform the debate between Republican and Democratic lawmakers who continue to clash over federal unemployment benefits.

New York’s true nursing home death toll cloaked in secrecy Unlike every other state with major outbreaks, New York only counts residents who died on nursing home property and not those who were transported to hospitals and died thereRiverdale Nursing Home in the Bronx appears, on paper, to have escaped the worst of the coronavirus pandemic, with an official state count of just four deaths in its 146-bed facility.

Fed slows corporate debt purchases to trickleThe Federal Reserve held $3.6 billion worth of corporate debt at the end of July, but its daily purchases are dwindling since the historic program kicked off in May, according to CreditSights.

Don't assume this stock-market value rotation will stick, J.P.Morgan saysMany market observers believe the recent shifts between growth and value stocks signals a regime change is under way, but analysts at J.P. MorganEquity Research don't agree.

Trump reportedly considering barring entry of some U.S. citizens over virus fears Unclear whether administration has authority to block citizens and permanent residents from returning to own countryPresident Donald Trump is reportedly considering rules that would allow U.S. border officials to block U.S. citizens and permanent residents from returning from abroad if they are suspected to be infected with the coronavirus.

Dow transports and Russell 2000 see 'golden cross' materializingA week after a bullish golden cross pattern formed in the Dow Jones Industrial Average, a pair of important stock-market indexes are also beginning to generate upbeat chart formations—suggesting that a mostly technology-driven rally may be fanning out somewhat to other sectors of the market.

Trump ‘seriously’ considers capital gains tax cut — here’s how he could do it ‘We are looking very seriously at a capital gains tax cut, and also an income tax cut for middle income families,’ president saysAnalysts are pinning the stock market’s gains on Tuesday in part on President Donald Trump saying at Monday night’s news conference that his administration might reduce taxes on capital gains. Here’s how it could be done.

Airline Stocks Are Soaring. Why One Analyst Sees More Gains Ahead. Citigroup’s Stephen Trent is particularly bullish on Spirit and Delta.

The smart money is wrong about the battered dollar Today’s dollar weakness is neither a boon to markets and the U.S. economy nor an augury of the currency’s global downfall, writes Mohamed A. El-Erian.

Republican senator calls Trump’s stimulus executive order ‘unconstitutional slop’ As top Democrats Pelosi and Schumer urge congressional Republicans to return to the negotiating table, Trump engages in an intraparty war of words with Nebraska’s Ben SassePresident Donald Trump’s executive order and memorandum to stimulate the economy “is unconstitutional slop,” said Se. Benn Sasse of Nebraska.

Treasuries Are Selling Off. That’s Good News. The 10-year Treasury yield has climbed above 0.6%, thanks to a series of auctions that kick off today and early signs of strengthening inflation.

World’s Largest Wind Turbine Maker Vestas Hits Record High as U.S. Demand Drives Sales Vestas Wind Systems’s stock hit record highs on Tuesday, as strong U.S. demand for wind turbines drove surging sales in the second quarter.

Dow Soars as Russia Approves Covid-19 Vaccine — and Other Dubious Assertions Russia’s approval of a coronavirus vaccine is being given credit for the big bounce in U.S. stocks. But there’s more going on than the headline suggests.

Wholesale prices surge 0.6%, but don’t be fooled: Inflation no threat to the economy PPI posts biggest gain in almost two years after pandemic lull The wholesale cost of U.S. goods and services posted the biggest increase in July in nearly two years, led by higher oil prices, but inflationary pressures in the economy were still largely invisible owing to the coronavirus pandemic.

A letter from Chennai as India tops 2 million COVID-19 cases: 'In the midst of so much death, despair and depression, life does go on''Whether or not a vaccine is around the corner, alternative medicines have sprouted like mushrooms after rain, claiming to build immunity against COVID-19,' writes Sadagopa Iyengar, an author and retired banker.

Trump’s payroll-tax executive order could boost the stock market More stimulus would find its way into the stock marketMore stimulus would find its way into the stock market.

Barron’s Daily: Russia’s Coronavirus Vaccine Isn’t All That. Stocks Don’t Care. S&P 500 inches near record high, the college football season is on the verge of collapse, McDonald’s sues its former CEO, and other news to start your day.

U.S. small business optimism falls in July: NFIBSmall-business owners confidence in the U.S. economy slipped in July as coronavirus cases continue to surge across the country, data from a survey compiled by the National Federation of Independent Business showed Tuesday.