Page 56 - Us Economy

US economy falls 31.4% in spring; may shrink for the first time since 2009

The government will not release its July-September GDP report until Oct. 29, just five days before the presidential election

US economy plunges record 31.4% in spring but big rebound expected

The US economy plunged at a record rate in the spring but is poised to swing to a record increase in the quarter that just ended

US election: Rise in consumer confidence could boost vote for Donald Trump

Confident consumers are more likely to part with their cash rather than saving it, and stronger household spending lifts the economy

Trump vs Biden: Wall Street treads water ahead of first presidential debate

11 major S&P 500 sectors were split down the middle in early trading with five falling and energy stocks and financials, which bounced strongly in the previous session, giving back most of their gains

IT shares gain on US stimulus hope; TCS, Infosys near record highs

The IT index outperformed the market in the April-June (Q1FY21) quarter

Explained: The $4 trillion US government relies on individual taxpayers

Corporations pay just a fraction of what individuals do into the federal spending pool, which funds the military, transportation safety, veterans benefits, regulatory agencies and programs like NASA

Donald Trump paid $750 in tax in US, $145,400 in India, says report

The US president paid no tax at all for 10 years, according to an NYT report that analysed his returns for 20 years

Tech stocks lift Wall St even as Covid impact on economy dampens sentiment

The information technology index jumped another 1.2% after outperforming for most of the week as investors ditched value-linked stocks in the face of deteriorating economic data

Unemployment rate rises in US as govt stimulus for recovery fades

Federal Reserve Chair Jerome Powell told lawmakers on Wednesday that Congress and the U.S. central bank needed to "stay with it" in working to support the economy's recovery

Fed, Treasury chiefs back more aid for small biz, but leave details fuzzy

(Reuters) - Top U.S. economic policymakers opened the door on Tuesday to further aid for small businesses hit by the coronavirus-triggered recession, but differed over how broad it might extend and the manner in which it should be delivered.

Nasdaq, S&P 500 crawl higher on Amazon, Apple boost; Dow remains muted

Microsoft Corp, Apple Inc, Alphabet Inc and Facebook Inc, which together fuelled a Wall Street rally since a coronavirus-driven crash in March, rose between 0.3% and 0.9% in early deals

US economy highly uncertain despite marked improvement: Fed's Powell

Mnuchin, in prepared remarks to the Democratic-controlled committee, said he felt the economy "will see tremendous third-quarter growth"

US household wealth rebounds to a record high even as economy struggles

Americans' household wealth rebounded last quarter to a record high as the stock market quickly recovered from a pandemic-induced plunge in March. Yet the gains flowed mainly to the most affluent households even as tens of millions of people endured job losses and shrunken incomes. The Federal Reserve said Monday that American households' net worth jumped nearly 7% in the April-June quarter to $119 trillion. That figure had sunk to $111.3 trillion in the first quarter, when the coronavirus battered the economy and sent stock prices tumbling. Since then, the S&P 500 stock index has regained its record high before losing some ground this month. It was up 2.8% for this year as of Friday. The tech-heavy Nasdaq has soared more than 20% this year. The full recovery of wealth even while the economy has regained only about half the jobs lost to the pandemic recession underscores what many economists see as America's widening economic inequality. Data compiled by Opportunity Insights, a ..

US debt to hit nearly twice of GDP by 2050: Congressional Budget Office

The CBO, in its annual Long Term Budget Outlook, said that increased federal government spending associated with the coronavirus pandemic has accelerated the growth of US budget deficits and debt

US equities remain top choice for Indian investors despite slump

Structurally, the market is exposed to high-growth industries and over 50 per cent of markets earnings are derived overseas, said experts

Donald Trump to announce $13 billion in farm aid on Thursday: Report

It was not immediately clear which farmers would benefit from the new round of aid

Federal Reserve weighs bank dividends as it prepares second stress test

The central bank said it will release the results of the new analysis by the end of 2020

Federal Reserve vows to keep interest rates near zero until inflation rises

The Fed's decision drew two dissents, one from a policymaker who thought it went too far, and the other from one who thought it didn't go far enough

Whatever the calculation, India's Q1 GDP contraction is severest among all

Irrespective of whether it is sequential or year-on-year, the inference remains the same; South Africa's 50% contraction is "annualised" and is incomparable to India's 24% fall

Perpetual recession? Recovery in a year? Economists divided on US future

The economy is currently about 11 million jobs below February's level. It took more than four years, until mid-2014, to recover the 8 million jobs lost in the 2007-2009 recession