Page 61 - Us Economy

Wall Street opens higher as investors bet on stimulus-led economic revival

The Dow Jones Industrial Average rose 39.91 points, or 0.15%, at the open to 26,774.62.

China rebounds from coronavirus crisis, economy grows 3.2% in Q2

However, Shanghai Composite slips 4.5% over policy tightening, foreign selling

Morgan Stanley posts record profit on trading boom amid Covid-19 crisis

Trading powerhouses Morgan Stanley and Goldman Sachs performed better than Main Street rivals JPMorgan Chase, Bank of America and Citigroup

US June retail sales up 7.5% but Covid-19 dashes hopes of economic recovery

The Census Bureau reported Thursday that retail sales are 1.1% higher than their levels from a year ago

Fed survey says economic activity has picked up but outlook remains cloudy

And the report said that business contacts in the Fed's 12 regions remained wary about the future

Goldman Sachs revenue from trading stocks and bonds surges 93%

Revenue from trading stocks and bonds surged 93 per cent, surpassing what analysts had expected

US industrial output surges in June, but still below pre-Covid levels

The June performance was better than economists had forecasts and reflected the reopening of many parts of the US economy after lockdowns in the spring

Banks stockpile billions as they prepare for things to get worse

Collectively, JPMorgan Chase, Citigroup and Wells Fargo have put aside $25 billion during the second quarter, they said. As a result, their quarterly profits plunged.

Covid-19: Moderna soars 18% as vaccine gives promising early results

The US biotech firm's breakthrough is one of the most promising developments yet in the race to develop a vaccine against the virus that has paralysed the world's economy.

JP Morgan beats estimates on trading boost, braces for rising defaults

JP Morgan's trading revenue surged 77% in a quarter that saw record-breaking volumes in financial markets.

S&P 500, Dow Jones rise after mixed bank earnings; tech-heavy Nasdaq falls

Largest US lender JP Morgan Chase & Co was up 0.2% after it posted a smaller-than-expected 51% drop in second-quarter profit.

US budget deficit hits all-time high of $864 bn in June amid Covid pandemic

For the first nine months of this budget year, which began on October 1, the deficit totals $2.74 trillion, also a record for that period

Buy American: Joe Biden unveils US-centered economic plan to counter Trump

Democratic Party candidate accuses President Trump of ignoring the coronavirus pandemic and the climate crisis.

Federal Reserve officials suggest recovery of US economy may be stalling

Seemingly rapid rebound in jobs, retail sales and some other measures of activity in May and June may not persist, recent data shows.

Policy change on foreign students is misguided: US varsities and lawmakers

Stanford President Marc Tessier-Lavigne expresses his concern that the decision will create more uncertainty and complexity for international students

Covid-19 impact: Fed policymakers see economy plateauing, risks ahead

Business owners are "nervous again," Ralph Bostic, president of the Atlanta Federal Reserve Bank, said in webcast remarks to the Tennessee Business Roundtable.

Wall Street ends lower after strong recent rally as Covid-19 cases mount

Strategists said investors may be taking profits after the recent run higher.

Oil prices steady as economic data overshadows coronavirus worries

Brent crude futures settled at $43.08 a barrel, down 2 cents in the session. US West Texas Intermediate settled down 1 cent at $40.62 a barrel.

Wall Street gains on strong services sector data; Dow, S&P rise over 1%

A sharp jump in Covid-19 cases recently in the United States has cast a shadow over the strong rally in stocks as many states have curtailed their reopening plans

Oil steady as hopeful economic data face spike in coronavirus cases

Brent crude settled at $43.10 a barrel, up 30 cents.