Page 8 - Us Recession
JPMorgan sees US economy contracting next year as Covid-19 surge hits biz
The world's largest economy is expected to shrink at a 1% annualized pace in the January-to-March period, JPMorgan said in its 2021 U.S. outlook issued Friday
 "JPMorgan sees US economy contracting next year as Covid-19 surge hits biz")
US job openings, hiring in Sept point to sluggish labour market recovery
The United States is setting daily records for coronavirus cases, which could force state and local governments to impose new restrictions on businesses like restaurants, bars and gyms
 "US job openings, hiring in Sept point to sluggish labour market recovery")
Why Trump's approval ratings on economy remain steady amid Covid recession
The president has built an enduring brand with conservative voters, in particular, who continue to see him as a successful businessman and tough negotiator
 "Why Trump's approval ratings on economy remain steady amid Covid recession")
'The Big Short 2.0': How hedge funds profited off the pain of malls
As the pandemic accelerated the demise of some brick-and-mortar retailers, a group of investors profited handsomely from their travails
 "'The Big Short 2.0': How hedge funds profited off the pain of malls")
US expected to report record-breaking economic plunge due to Covid-19
On Thursday, the government will issue its first of three estimates of economic activity, as measured by the gross domestic product, for the April-June quarter.
 "US expected to report record-breaking economic plunge due to Covid-19")
Americans want more federal relief for businesses impacted by Covid: Poll
The poll, conducted between July 15-21, comes as Congress is working toward another round of relief to support an economy thrown into its deepest recession
 "Americans want more federal relief for businesses impacted by Covid: Poll")
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.
 "JP Morgan beats estimates on trading boost, braces for rising defaults")
As US enters recession, Trump open to another coronavirus relief package
The US economy entered recession in February as a result of the coronavirus pandemic, a private economics research group said on Monday
 "As US enters recession, Trump open to another coronavirus relief package")
US jobs report surprises analysts, raises hopes of faster economic recovery
Some of the jobs gains reported for May could be a reflection of the Paycheck Protection Program
 "US jobs report surprises analysts, raises hopes of faster economic recovery")
Covid-19 crisis: Jerome Powell warns of lasting harm; US stocks slump
The Dow Jones Industrial Average was down 496.84 points, or 2.09 per cent, at 23,267.94, the S&P 500 was down 52.72 points, or 1.84 per cent, at 2,817.40 (at 9:37 pm IST).
 "Covid-19 crisis: Jerome Powell warns of lasting harm; US stocks slump")
Amidst the gloom and doom, the market's exuberance is confounding
For the sake of context, the financial crisis of 2008 had seen the S&P 500 fall by more than 50 per cent from its peak
 "Amidst the gloom and doom, the market's exuberance is confounding")
US recession to last for longest time, quick rebound unlikely: Economists
The longest U.S. economic expansion has ended, said Gregory Daco, chief economist at Oxford Economics
 "US recession to last for longest time, quick rebound unlikely: Economists")
US announces $19 bn coronavirus aid for farmers, food buys for poor
The US Agriculture Department is partnering with regional and local distributors to purchase $3 billion in such farm goods to be distributed to food banks, churches and aid groups
 "US announces $19 bn coronavirus aid for farmers, food buys for poor")
Five million more Americans seek unemployment benefits amid Covid-19 crisis
The Labor Department said 5.2 million new unemployment claims were filed last week, down from a slightly revised 6.6 million the week before
 "Five million more Americans seek unemployment benefits amid Covid-19 crisis")
Coronavirus pandemic eats away Goldman's profits as investment takes a hit
The Wall Street trading powerhouse on Wednesday also warned that it expects reduced revenue in its asset and wealth management businesses and a higher rate of client defaults
 "Coronavirus pandemic eats away Goldman's profits as investment takes a hit")
Exceptional crisis, exceptional responses
Exceptional circumstances are sometimes the catalyst for exceptional leaders to emerge; they can also be extremely harsh for those who fail the leadership test.
Covid-19: US headed towards recession, but Silicon Valley still optimistic
A total of 218 people have died in the US due to the fast-spreading coronavirus pandemic
 "Covid-19: US headed towards recession, but Silicon Valley still optimistic")
US recession chances now at 80% despite Fed emergency moves: Report
The virus and COVID-19, the disease it causes, has spread around the world, crippling global economic activity through lockdowns and business shutdowns.
 "US recession chances now at 80% despite Fed emergency moves: Report")
Covid-19 hit US economy already in recession: BofA; pegs job loss at 3.5 mn
US Federal Reserve urged not to restrict the quantum of stimulus measures
 "Covid-19 hit US economy already in recession: BofA; pegs job loss at 3.5 mn")
US Fed cuts key rate by 25 bps, but signals pause in its easing cycle
The Fed said it will 'monitor the implications of incoming information for the economic outlook as it assesses the appropriate path' of its target interest rate
 "US Fed cuts key rate by 25 bps, but signals pause in its easing cycle")
