U.S. stocks rose on Monday with the Nasdaq hitting a new intraday high after a surprisingly upbeat jobs report last week raised expectations of a swift recovery from a coronavirus-driven downturn.
JetBlue Airways Corp expects to fly about half of its original schedule in July, up from about 25% to 30% in June, and a bit more in August as leisure demand begins to recover, Chief Executive Robin Hayes told CNBC in an interview on Monday.
The U.S. economy ended its longest expansion in history in February and entered recession as a result of the coronavirus pandemic, the private economics research group that acts as the arbiter for determining U.S. business cycles said on Monday.
JPMorgan upgraded shares of Michaels to overweight from neutral on Monday.
Billionaire money-manager Ken Fisher told a business news channel in India that Warren Buffett had moved into a "relatively inactive" phase of his career.
General Electric Co said on Monday it reopened portions of its prior debt offerings for $3 billion in total proceeds to boost its cash reserves amid the coronavirus crisis.
Global equity markets surged on Monday, with the Nasdaq hitting a record high on hopes of a quick recovery from the coronavirus slump, while oil slid after Saudi Arabia said new output cuts by producer nations would not include extra cuts by three Gulf countries.
The Nasdaq hit a record high close on Monday, becoming the first of the major indexes to confirm a new bull market, and the Dow and S&P 500 jumped as expectations for a swift recovery from a coronavirus-driven downturn increased.
On the same day that the Nasdaq marked a new bull market, the U.S. economy was officially declared to be in a recession. The two milestones on Monday illustrate how an 11-week surge in stocks has occurred despite widespread economic devastation fueled by the coronavirus pandemic.
JPMorgan upgraded shares of Michaels to overweight from neutral on Monday.
The Nasdaq posted a record closing high on Monday, becoming the first of the major indexes to confirm a new bull market, while the S&P 500 ended in positive territory for the year as expectations for a swift recovery from a coronavirus-driven downturn increased.
Macy's Inc said on Monday it raised a total of $4.5 billion, including $3.15 billion in new borrowings against its real estate assets, as the department store chain tries to navigate through the fallout from the COVID-19 pandemic.
A top fear of CEOs is a resurgence of the Covid-19 virus, according to survey results.
Lawyers for the former Green Beret and son wanted by Japan for helping former Nissan Motor Co boss Carlos Ghosn flee the country on Monday argued U.S. authorities wrongly arrested them for aiding a crime that they say does not exist in Japan: bail jumping.
Hong Kong's Cathay Pacific Airways Ltd and its major shareholders Swire Pacific Ltd and Air China Ltd entered share trading halts in Hong Kong on Tuesday pending announcements.