Economic recovery trackers stumble as Labor Day boost fades and demand wavers
, marking a symbolic halfway point in the nation's recovery 19 weeks after the bank began tracking progress.
Oxford Economics' recovery tracker erased end-of-August gains and fell 0.3 points to 80.9 over the first week of September. While a drop in new COVID-19 infections lifted the gauge's health component, credit card spending metrics fell and demand gains were concentrated in "transitory" holiday activities.
The composite score underlying Goldman's Reopening Scale sank 6 points this week to 68 from a revised reading of 74. The decline is the biggest single-day drop for the gauge since the onset of the coronavirus pandemic in early March. , the Labor Department announced Thursday. The decline is smaller than those seen through the summer, and the reading missed the consensus economist estimate of 850,000 filings.A Wall Street firm says investors should buy these 15 cheap, high-earning stocks now to beat the market in 2021 as more expensive companies fall behind
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US weekly jobless claims decline to 860,000 amid signs of economic recovery - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
IEA says oil demand recovery set to slow for rest of 2020The International Energy Agency cut its 2020 oil demand forecast by 200,000 barrels per day (bpd) to 91.7 million bpd in its second downgrade in as many months
Read more »
Treasury yields edge lower as investors await Fed verdictU.S. government debt prices were slightly higher Wednesday morning as investors awaited the outcome of the Federal Reserve's two-day meeting, which should offer a glimpse into the country's economic recovery prospects.
Read more »
Snowflake explodes 166% higher on first day of trading after biggest IPO of 2020 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
OECD boosts economic outlook but warns against tightening policy too quicklyThe Organization for Economic Cooperation and Development on Tuesday boosted its global economic outlook while warning policy makers not to tighten policy...
Read more »
As Economic Recovery Slows, Fed Pledges Full Support At Least Until 2023The Federal Reserve left interest rates near zero Wednesday and pledged it was ready to use all of its available tools to support an economic recovery that appears to be weakening.
Read more »