Oil futures headed lower Sunday evening in electronic trade after a key meeting between oil giants Saudi Arabia and Russia was tentatively shifted to Thursday instead of Monday, amid rising tensions between the world’s biggest oil producers over the weekend. The Organization of the Petroleum Exporting Countries and its allies, …
Read More »Coronavirus update: 1.04 million cases, 55,132 deaths and U.S. health care workers clamor for masks and gloves
The U.S. labor market showed further signs of damage from the coronavirus that causes COVID-19 on Friday as the global case tally continued to extend beyond a million and the death toll passed 54,000. Nearly four billion people around the world are now under some order restricting their movements, according …
Read More »Economic Report: U.S. manufacturers see biggest plunge in new orders and employment in 11 years, ISM finds
The numbers: American manufacturers began to feel the brunt of the coronavirus pandemic toward the end of March as new orders and employment fell to the lowest level since the end of the 2007-2009 Great Recession, a new survey of executives showed. The Institute for Supply Management said its manufacturing …
Read More »Market Snapshot: U.S. stock-index futures slump as investors keep focus on coronavirus numbers
Stock-index futures fell Sunday, pointing to a lower start for Wall Street on Monday, as the number of coronavirus cases and deaths continues to rise and investors brace for data in the week ahead expected to underline the sharp economic toll of the pandemic. Futures on the Dow jones Industrial …
Read More »Futures Movers: Oil prices fall as supply fears outweigh U.S. stimulus package
Oil futures fell Wednesday, with worries about growing supply amid a price war between Saudi Arabia and Russia outweighing support from an agreement on a $ 2 trillion U.S. economic stimulus program. Weekly data from the Energy Information Administration, meanwhile, revealed a smaller-than-expected weekly climb in U.S. crude inventories, but …
Read More »Economic Report: U.S. businesses dealt severe blow in March from coronavirus and slip toward recession
Getty Images The coronavirus is killing Americans and devastating the economy. The numbers: Business in the U.S. posted the biggest contraction in March since the end of the Great Recession owing to massive disruptions caused by the coronavirus. A “flash” reading by the forecasting firm IHS Markit showed a small …
Read More »The Margin: Coronavirus travel ban creates chaos at U.S. airports in echo of 2017
The ban on travel to the United States by non-U.S. citizens from Europe announced at midweek by President Trump in an Oval Office address that raised more questions than it put to rest — and expanded after the fact to include the previously excluded European countries Ireland and the United …
Read More »Market Extra: Wall Street fears ‘flashbacks to 2008’ with forced selling in $9 trillion U.S. corporate bond market
After the most volatile week on Wall Street since the 2008 financial crisis as the coronavirus epidemic began to shut down swaths of the U.S. economy, the health of the U.S. stock and bond markets may now depend on how corporate debt fares in the coming months. The S&P 500 …
Read More »Asia Markets: Asian stocks bounce after huge losses on news of possible U.S. tax cut
BEIJING (AP) — Asian stock markets took a breather from recent steep declines on Tuesday, with several regional benchmarks gaining more than 1% after New York futures reversed on news that President Donald Trump plans to ask Congress for a tax cut and other quick measures to ease the pain …
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