Jobless claims have come in higher than a million — and more than double the worst week of the Great Recession — for 17 straight weeks
— Reuters’ Noel Randewich: “The S&P 500 dropped on Thursday, pulled lower by Microsoft Corp and Apple Inc, as elevated levels of unemployment claims heightened concerns about the economic toll from rising coronavirus cases. … A jump in cases of the virus has forced California and other states to shut down again, sparking fears of more business damage and slowing the pace of a Wall Street rally. The S&P 500 is about 5% below its February record high.
“But all the recent spending on highways and rail lines raises questions about whether China’s economic turnaround is sustainable and whether it can become the engine needed to drive the global economy out of a slump.”— WSJ’s Telis Demos: “The basic business of banking in the age of Covid-19 isn’t proving to be easy. But for some, there could be light at the end of the tunnel.
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.
Consumer Retail Sales Jump In June, Fueled By Car SalesThe Census Bureau’s estimate does not fully account for the June surge in coronavirus cases, but it was welcome news to retailers ready for shoppers to come back.
Read more »
Stock market live updates: Dow futures down 200, jobless claims disappoint, retail sales boomInvestors digested another batch of corporate earnings, while waiting for new data on the labor market.
Read more »
US retail sales jump 7.5% in June, but economy still ailsBALTIMORE (AP) — U.S. retail sales climbed a solid 7.5% in June, a sign that the economy was healing right before infections from the coronavirus spiked again and dragged down hopes for a steady...
Read more »
Dollar climbs as traders focus on weak Chinese retail salesThe U.S. dollar strengthened on Thursday as investors focused on poor Chinese retail sales instead of its stronger than expected economic growth last quarter, with the focus now shifting more to a European Union summit this weekend.
Read more »
Dollar firms as weak China retail sales sound warningThe dollar found support on Thursday as simmering Sino-U.S. tensions and weak Chinese consumption data knocked investors' faith in a fairly swift global economic recovery from the coronavirus crisis.
Read more »
China industrial output rises 4.8% year-on-year in June; retail sales, investment fallChina's industrial output rose 4.8% in June from a year earlier, data showed Thursday, expanding for the third straight month and offering some relief to an economy trying to regain its footing from the shock of the coronavirus outbreak earlier in the year.
Read more »