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    What a Global Economic Slowdown Means for the U.S. What a Global Economic Slowdown Means for the U.S. 1:45
12:52 p.m. Aug. 5, 2020 - By Sunny Oh
Treasury yields climb on strong services data, increased debt issuanceU.S. Treasury yields rose Wednesday after strong U.S. economic data and expectations for increased debt issuance weighed on appetite for government bonds.
9:20 a.m. Aug. 5, 2020 - By Rachel Koning Beals
What if heat waves were named like hurricanes? New push draws mega insurers, Athens and Miami mayors, Red Cross and dozens more stakeholders Extreme Heat Resilience Alliance formed now because by mid-century heat waves are expected to affect more than 3.5 billion people globally Global mayors, insurance executives, scientists, forest restorers, the Red Cross and even more stakeholders are declaring “code red,” saying they can no longer wait to prepare for extreme heat as 30% of the world already copes with deadly heat waves lasting 20 days or longer.
5:58 a.m. Aug. 5, 2020 - By Mark DeCambre
S&P 500 trades within 2% of record high as Wall Street focuses on Disney subscriber growth and hope for fresh round of coronaviirus aidU.S. stocks rose at the start of trading Wednesday as corporate earnings results continued to roll in, and investors pored over a disappointing jobs report from payroll provider Automatic Data Processing Inc. . The payroll company said only 167,000 private sector jobs were created in July, short of the consensus estimate for a gain of 1.88 million jobs, according to Econoday. However, better-than-expected quarterly results late Tuesday from Dow component and entertainment and theme park giant Walt Disney Co. , even though it reported a $3.5 billion loss, helped to fuel some bullishness in markets. On top of that, the Federal Reserve's No. 2, Richard Clarida, told CNBC that he's sticking to his prior forecast of an improving economy over the remainder of the year. The Dow Jones Industrial Average rose 266 points, or 1%, at 27,094, around its highest level since June 8, while the S&P 500 index gained 0.6% to 3,326, putting the broad-market benchmark within 2% of its Feb. 19 record high at 3,386.15. The Nasdaq Composite Index , meanwhile, rose 0.3% to 10,978, which puts the tech-heavy index on pace for its 31st record close of 2020, which would already match last year's full-year record tally for the gauge. Wall Street drew some optimism from report late Tuesday reports suggested congressional leaders are working to reach a coronavirus-aid bill deal by the end of the week.
11:37 a.m. Aug. 4, 2020 - By Ciara Linnane
Coronavirus update: U.S. case tally at 4.74 million as New Jersey, Massachusetts and Connecticut see infections climb again Cinemark’s revenue falls 99% as theaters remain closed, and Mallinckrodt says it is looking at possible bankruptcyThe U.S. case tally for the coronavirus illness COVID-19 rose by fewer than 50,000 on Monday for a second straight day, data aggregated by Johns Hopkins University showed, although cases were rising in some states that had seemed to get the spread under control earlier this year.
5:00 a.m. Aug. 4, 2020 - By Greg Robb
IMF says 40% of world’s current account surpluses and deficits are ‘excessive’ IMF says U.S. dollar was 11% overvalued in 2019The U.S. dollar was overvalued against other currencies by 11% in 2019, the International Monetary Fund said in a report released Tuesday
12:25 p.m. Aug. 3, 2020 - By Mark DeCambre
Nasdaq ends at record as stocks rally after pickup in manufacturing activity to kick off August Microsoft shares rallied amid its efforts to buy U.S. portion of TikTok from China’s ByteDanceU.S. stocks rise Monday to kick off the first trading day of August as investors were heartened by upbeat manufacturing data, even as talks appeared stalled over another round of coronavirus stimulus.
12:57 p.m. Aug. 1, 2020 - Associated Press
Biden eyes major foreign policy shifts if he wins Americans could expect Biden to re-engage with traditional allies. Should former Vice President Joe Biden win the White House in November, America will likely be in for a foreign policy about-face as Biden reverses, dismantles or severely curtails many of President Donald Trump’s most significant and boldest actions.
8:24 a.m. Aug. 1, 2020 - Associated Press
Mexico No. 3 in virus deaths; storm could hinder US response Hurricane Isaias’ imminent arrival forced the closure of some outdoor testing sites as Florida reached a new daily high in deathsMexico now has the third most COVID-19 deaths in the world, behind Brazil and the United States, where a hurricane bearing down on the East Coast on Saturday is threatening to complicate efforts to contain the virus.
4:11 a.m. Aug. 1, 2020 - By Myra P. Saefong
Silver: poor man’s gold no more? Prices for the metal trade 25% higher for July Investors have focused on a rise in record prices for gold, but silver’s up nearly 25% in July—the metal’s second-biggest monthly gain on record—and it’s still undervalued compared with the yellow metal.
7:12 a.m. July 31, 2020 - By Barbara Kollmeyer
European stocks turn lower as investors juggle tech optimism and economic gloom Nokia climbs after results European stocks drop on the final trading day of the month, as economic worries overshadow upbeat earnings in the U.S. and Europe.
12:02 p.m. July 30, 2020 - By Sunny Oh
10-year Treasury yield sinks to lowest since March after GDP, jobless claims point to economic challenges aheadU.S. Treasury yields fall on Thursday as an official snapshot of U.S. growth in the second quarter of this year confirmed the economic devastation caused by the COVID-19 pandemic.
7:52 a.m. July 30, 2020 - By Michael Ashbaugh
Charting a GDP-fueled downdraft, Dow industrials challenge 200-day average Focus: Transports sustain July break atop 200-day average, IYT, TWLO, BSX, PENN, HOMEU.S. stocks are lower early Thursday, pressured after an ugly second-quarter GDP report, signaling an economy contracting at a record 32.9% annual pace. Against this backdrop, the S&P 500 has maintained its range bottom — the 3,200 mark — while the Dow industrials have pulled in to a headline test of the 200-day moving average, currently 26,230.
5:33 a.m. July 30, 2020 - By Mark DeCambre
Dow opens over 300 points lower Thursday after U.S. GDP marks steepest drop in records going back about 70 yearsU.S. stock indexes opened lower Thursday morning amid a barrage of corporate quarterly results and economic reports that signal that the impact of the COVID-19 pandemic is still hurting domestic business activity. The Dow Jones Industrial Average fell 325 points, or 1.2%, at 26,216, the S&P 500 index retreated 1.1% at 3,223, while the Nasdaq Composite Index declined 0.8% at 10,457. A first reading on U.S. gross domestic product data for the second quarter confirmed the pandemic pummeled the economy. GDP fell at a 32.9% annualized pace, the Commerce Department said, a bit better than the 34.6% annual decline forecast in a MarketWatch survey, but still the worst in history dating back to records since 1947. Separately, first-time claims for unemployment benefits rose slightly last week, to 1.43 million from an upwardly-revised 1.42 million, while continuing claims also rose to 17 million in the week ended July 18. Thursday marks the most hectic week of corporate earnings reporting season, with results from dozens of high-profile companies due after the bell, including Google parent Alphabet Inc. , Apple Inc. Facebook Inc. and Amazon.com Inc. .
11:56 a.m. July 29, 2020 - Associated Press
U.S. to bring 6,400 troops home from Germany and move 5,600 more to other countries Defense Secretary Mark Esper said the military moves will cost in the “single digit” billions of dollarsSpurred on by President Donald Trump’s demand to pull troops out of Germany, the U.S. will bring about 6,400 forces home and shift about 5,600 to other countries in Europe, U.S. defense leaders said Wednesday, detailing a Pentagon plan that will cost billions of dollars and take years to complete.
10:25 a.m. July 29, 2020 - By Mark DeCambre
Dow holds modest gains after Fed leaves rates near 0%, says it will hold rates low until confident 'economy has weathered' coronavirus stormU.S. stock indexes on Wednesday afternoon maintained modest gains after the Federal Reserve kept rates unchanged, as expected, at the conclusion of its two-day policy meeting and indicated they would aim to keep interest rates low until it is confident that the economy has weathered the storm wrought by the COVID-19 pandemic. The Dow Jones Industrial Average rose 105 points, or 0.4%, at 26,476, the S&P 500 index gained 0.9% at 3,248, those for the Nasdaq Composite Index climbed 1% to 10,504. The Fed's federal-funds rates stand at a range between 0% and 0.25%. "The committee expects to maintain the target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals," the FOMC wrote in statement. A news conference will be held by Chairman Jerome Powell at 2:30 p.m. The central bank also steady at $120 billion per month. The Fed is buying $80 billion of Treasurys and $40 billion of asset-backed mortgage securities to support the economy. Investors were also watching a hearing in Washington by the House Judiciary Antitrust Subcommittee of some of the largest technology and tech-related companies in America, including Amazon.com Inc. kicked off the testimony, followed by Sundar Pichai of Google parent Alphabet Inc. , Apple Inc. and Facebook Inc. .
6:23 a.m. July 29, 2020 - Associated Press
Holocaust survivors push Facebook to remove denial posts Zuckerberg, who is Jewish, says he personally finds “Holocaust denial deeply offensive”Holocaust survivors around the world are lending their voices to a campaign launched Wednesday targeting Facebook head Mark Zuckerberg, urging him to take action to remove denial of the Nazi genocide from the social media site.vv
12:08 p.m. July 28, 2020 - By MarketWatch
Dow ends 205 points lower as tensions around coronavirus aid package grow ahead of Fed policy update U.S. stocks finished lower Tuesday as investors reacted in part to a lack of a progress toward a fresh coronavirus aid package and investors awaited a policy update from the Federal Reserve at the conclusion of their gathering on Wednesday. The Dow Jones Industrial Average finished off 205 points, or 0.8%, lower at about 26,379, the S&P 500 index closed 0.7% lower at 3,218, while the Nasdaq Composite Index declined 1.3% at about 10,403, as large-capitalization tech stocks took it on the chin, a number of which are slated to report results in the coming days. Negotiations between Democrats and Republicans, meanwhile, centered on further stimulus to help individuals economically harmed by the pandemic, are shaping up to be a contentious one. Democratic House Speaker Nancy Pelosi said on Monday that GOP leaders who brought a roughly $1 billion aid proposal to the table are "not really ready to have a serious negotiation." Democrats are eager to maintain the existing $600 weekly supplement, while the Republican plan would reduce it to a $200 add-on through September. The supplemental jobless benefits are due to expire at the end of the month. Meanwhile, Federal Reserve is set to conclude a two-day policy meeting Wednesday that's unlikely to result in much action, but is expected to see Chairman Jerome Powell underline a willingness to take further measures to support the economy and maintain easy financial conditions. In corporate news, Pfizer Inc. shares were up 3.9% after beating earnings and revenue expectations and raising its full-year outlook, while shares of McDonald's Corp. were off 2.5% after the fast-food chain reported earnings that fell short of Wall Street forecasts.
11:08 a.m. July 28, 2020 - By Ciara Linnane
Coronavirus update: U.S. case tally climbs above 4.30 million as Texas becomes fourth state with more than 400,000 cases Pfizer, McDonald’s, 3M and Raytheon Technologies are latest Dow components to report earnings with mixed resultsThe U.S. tally for confirmed cases of the coronavirus illness COVID-19 climbed above 4.30 million on Tuesday, and the death toll exceeded 148,000, after Texas became the fourth state with more than 400,000 cases, joining California, Florida and early hot spot New York.
10:07 a.m. July 27, 2020 - By Myra P. Saefong
Gold price marks highest settlement and intraday price on record Silver tops $24/oz for highest finish since 2013Fresh gains for gold on Monday take it ever closer to a $2,000 level that some analysts see as a distinct possibility.
3:25 a.m. July 27, 2020 - By William Watts
Dollar index slides to 2-year lowA closely followed gauge of the U.S. dollar fell to a two-year low Monday, as the currency lost ground to major rivals. The ICE U.S. Dollar Index , which tracks the greenback against a basket of six major rivals, was down 0.7% at 93.807, after trading at its lowest intraday level since July 2018, according to FactSet. The dollar surged to a three-year high in March as the near-shutdown of the global economy triggered financial market turmoil and a scramble for the U.S. currency. The dollar subsequently retreated as equity markets recovered and central banks and governments responded with stimulus measures. The decline for the dollar accelerated in recent weeks on a rise in coronavirus cases in the U.S. and indications of a pickup in global economic activity. The euro has rallied strongly versus the dollar, getting an added lift last week as European leaders agreed on a substantial package of grants and loans aimed at easing the pandemic blow in the region's hardest hit countries. The euro was up 0.6% at $1.1725 after trading at its highest level versus the dollar since September 2018.
3:37 p.m. July 25, 2020 - By Ciara Linnane
Coronavirus update: U.S. counts more than 1,000 fatalities for a fourth straight day as virus spread accelerates in South and West ‘What we have now are essentially three New Yorks, with these three major states,’ says Dr. Deborah Birx The coronavirus illness COVID-19 claimed another 1,100 lives in the U.S. in a single day to push the death toll above 145,000 on Saturday, marking a fourth straight day of more than a 1,000 U.S. fatalities.
4:10 a.m. July 25, 2020 - By Shawn Langlois
The ‘cobra effect’ will have a ‘disastrous and unimaginable’ impact on the market, Wall Street vet warns ‘We’ll survive and thrive after the adjustment process for sure’‘As the massive monetary and massive fiscal stimuli (over $15T globally) conjoin to save the economy from a deflationary depression, they will cause instead a hyperinflationary economic collapse,’ Larry McDonald warned.
2:05 a.m. July 24, 2020 - By Ciara Linnane
Coronavirus update: Global COVID-19 cases top 15 million, U.S. cases pass 4 million, and California has more cases than New York Tesla surprises investors with an adjusted profit even after it was beset by pandemic-related stoppages at California plantThe number of confirmed cases of the coronavirus illness COVID-19 worldwide climbed above 15 million on Thursday and the U.S. case tally passed 4 million, as California’s case tally rose above early U.S. hot spot New York following a surge in new infections in recent weeks.
12:43 p.m. July 23, 2020 - By Mark DeCambre
Dow logs 350-point loss as shares of Apple and Microsoft exact heavy toll on the blue-chip index, broader stock market Dow component Intel’s earnings were on deck on ThursdayU.S. stocks end Thursday sharply lower, with technology-related giants Apple and Microsoft at the vanguard of a selloff in large-capitalization stocks.
12:29 p.m. July 22, 2020 - By Joy Wiltermuth
Dow ends above 27,000 for first time in six weeks as defensive plays gain amid latest China-U.S. tussle Tesla and Microsoft headline Wednesday’s earnings calendar U.S. stocks finished higher Wednesday, ahead of corporate results from Tesla and Microsoft, but with buying seen in utilities, real-estate and other sectors viewed as defensive as Sino-American tensions rise.
8:30 a.m. July 22, 2020 - By Archie Mitchell
London drops off the list of top 10 European travel hot spots for the first time U.K. capital has fallen off the top 10 list of most booked European cities for the first time ever, new research showsNew research by data firm ForwardKeys shows flight bookings in Europe and the U.S. falling by 99.6% so far in 2020.
2:39 a.m. July 22, 2020 - By Ciara Linnane
Coronavirus update: U.S. case tally climbs above 3.8 million; President Trump appears to have changed his view on face masks IBM posts better-than-expected earnings, while Coca-Cola revenue is light but drinks giant expects worst of pandemic is pastThe number of confirmed cases of the coronavirus illness COVID-19 in the U.S. rose above 3.8 million on Tuesday, and President Donald Trump appeared to change his view of face masks in the face of falling poll numbers.
1:24 p.m. July 21, 2020 - By Mark DeCambre
Dow, S&P close higher as Covid-battered stocks surge, but off session’s best levels as tech sector sinks Gains for equities come even as gold is approaching its second-highest level in history, near $2,000 an ounceU.S. stock-indexes finish mostly higher Tuesday, but off the session’s best levels, as investors snap up beaten-down energy and financial stocks amid a slate of corporate earnings reports, including Coca-Cola and Lockheed Martin’s second-quarter results.
10:14 a.m. July 21, 2020 - By Myra P. Saefong
Silver logs highest finish since 2014, up more than 80% from 2020’s low Silver futures rallies by nearly 7% TuesdaySilver prices rally Tuesday to finish at their highest level since 2014, scoring an impressive gain of more than 80% from the year’s low.
12:53 p.m. July 20, 2020 - By Joy Wiltermuth
Nasdaq clinches record high as tech stocks propel Dow, S&P 500 ahead of earnings crush Amazon led S&P 500’s gains on MondayMajor U.S. stock indexes finish Monday higher, led by soaring technology-related stocks, as investors look forward to quarterly results from corporations over the coming days. More than 480 companies are slated to report updates, including a number of prominent technology-related firms.
11:20 a.m. July 18, 2020 - By Ciara Linnane
Coronavirus update: U.S. reports yet another record case tally for a single day while global cases top 14 million Florida is now the U.S. hot spot and Miami-Dade County is the epicenter with 77,866 infections and 2,866 fatalitiesThe U.S. counted yet another a daily record number of COVID-19 cases on Saturday, while the number of cases globally climbed above 14 million and some countries resumed restrictions on movement to contain the pandemic.
7:14 a.m. July 18, 2020 - By Ciara Linnane
Coronavirus pandemic could get much, much worse, according to this health expert ‘If we don’t get the growth of this pandemic under control now, in a few months, when the weather turns cold and forces people to spend more time indoors, we could face a disaster that dwarfs the situation today,’ says John M. BarryThe coronavirus pandemic that has infected more than 3.4 million Americans and killed more than 136,000 could get much, much worse, unless action is taken now to contain it, according to a leading public health expert.
12:16 p.m. July 17, 2020 - By Sunny Oh
10-year Treasury yield bounces off 0.60% level as inflation expectations heat up U.S. Treasury yields edged up Friday as investors pour into Treasury inflation-protected securities, reflecting expectations for rising consumer prices while weighing on trading in government bonds.
10:04 a.m. July 17, 2020 - By Myra P. Saefong
Gold, silver futures settle higher to tally a sixth weekly gain in a row Precious metals investors await additional fiscal stimulusGold futures on Friday registered a sixth weekly gain in a row, buoyed by a combination of rising expectations for additional fiscal stimulus in Europe and the U.S. as well as uncertainty over the global economic outlook as the COVID-19 cases continue to rise.
12:22 a.m. July 15, 2020 - By Barbara Kollmeyer
This strategist says investors are in the ‘forest of make believe’ when it comes to growth stocks Critical information for the U.S. trading dayOur call of the day, from Nordea’s Sebastien Galy, says the mad rush for tech stocks is going to end in pain for some investors.
6:50 a.m. July 13, 2020 - By Mark DeCambre
S&P 500 now stands within 5% of its Feb. 19 all-time closing record as stock market rallies MondayU.S. stocks on Monday morning were rallying, with gains driving the broad-market S&P 500 index to within 5% of its most recent record, a move that is underscoring a rebound for the equity markets since its March collapse that had been induced by panic about the economic impact of the COVID-19 pandemic. The S&P 500 was most recently up 1% at around 3,218, just within 5% of its Feb. 19 peak at 3,386.15, according to FactSet data. Although concerns about the economic outlook haven't evaporated, investors are continually betting that the a rise in cases derived from the novel strain of coronavirus won't significantly derail a rapid and sharp, or V-shaped, economic recovery. The broad market's elevated value also is due to stimulus from the government and the Federal Reserve, which has helped to support a rally in mega-capitalization stocks that are technology or technology related, including Amazon.com Inc. , Microsoft Inc. , Apple Inc. and Tesla Inc. among them, which are viewed as more resilient to the harm from business closures due to the epidemic. Those companies are also considered solid bets on the future of the economy outside of the pandemic that has rocked global economies and markets. The tech-heavy Nasdaq Composite Index , against that backdrop, has been on a tear, and was on track for its 28th record of 2020. The Nasdaq-100 , consisting of the largest 100 companies within the Nasdaq, also has been trading firmly in record territory. Meanwhile, the Dow Jones Industrial Average, which comprises a number of companies considered more economically sensitive, has lagged behind its peers, but was still up firmly. The Dow at last check was up 321 points, or 1.2%, at 26,397, but about 10% from its Feb. 12 record closing high at 29,551.42. Monday's rally in particularly was at least partly on the back that of hope that new coronavirus vaccine candidates will help mitigate a recent resurgence in cases.
4:09 a.m. July 13, 2020 - By Rex Nutting
Full recovery is two long years away, says June’s top economic forecaster ‘Life won’t return to normal until an effective vaccine is found and distributed worldwide,’ says Christophe Barraud“I’m a bit pessimistic,” says Christophe Barraud, winner of the Forecaster of the Month contest. “A full recovery will take a long, long time.”
5:14 a.m. July 11, 2020 - By Lina Saigol
Barbados is offering your cure for the work-from-home blues Government proposes scheme after pandemic destroys Caribbean tourism sectorGovernment considers “Barbados Welcome Stamp” to allow visitors to work from the Caribbean island for a year.
10:48 p.m. July 9, 2020 - By Barbara Kollmeyer
After that 41% ‘moonshot’ for stocks, here’s what one strategist is telling investors to do next Critical information for the U.S. trading dayDon’t fight the Fed, but don’t chase this market, says our call of the day from CIBC Private Wealth Management’s chief investment officer, David Donabedian.
5:39 a.m. July 9, 2020 - By Archie Mitchell
British grocers reject U.S. chlorine-washed chicken as row over welfare standards deepen Aldi, Waitrose and Booths refusing to sell the poultry importsSeveral of the U.K.’s leading grocers have vowed never to sell chlorine-washed chicken and hormone-injected beef as the U.K. negotiates a free-trade agreement with th U.S.
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