Wall Street's indexes jumped on Thursday, with the Nasdaq turning positive for the year, following a clutch of upbeat earnings reports led by PayPal as investors looked past more weak jobs data caused by the coronavirus-induced economic downturn.
Though states have begun to reopen their economies, it is not clear consumers are ready to venture back to the marketplace, Atlanta Federal Reserve Bank President Raphael Bostic said on Thursday, citing conversations with business officials in his region and his staff's study of cellphone tracking data.
Self-employed workers applying for unemployment benefits may get less than they think because of how they report income.
The Nasdaq was on track to end Thursday in positive territory for 2020 after winning back the vast majority of steep losses caused in recent months by the coronavirus pandemic.
Unable to deliver to hotels and restaurants closed due to coronavirus restrictions, a German brewery on Thursday gave away some 2,600 litres (690 gallons) of beer.
To help bolster the economy, the White House is weighing a variety of measures, including the possibility of extending the tax deadline to September or even December.
Michigan Governor Gretchen Whitmer on Thursday said the state's factories can reopen on May 11, removing one of the last major obstacles to North American automakers bringing thousands of laid-off employees back to work amid the coronavirus pandemic.
Though states have begun to reopen their economies, it is not clear consumers are ready to venture back to the marketplace, Atlanta Federal Reserve Bank President Raphael Bostic said on Thursday, citing conversations with business officials in his region and his staff's study of cellphone tracking data.
World shares rose on Thursday after China's exports came in far stronger than expected, suggesting an economic recovery was under way, but the dollar fell from two-week highs as U.S. data showed millions more Americans joined the ranks of the unemployed.
Wall Street's indexes climbed on Thursday, with the Nasdaq erasing losses for 2020, following a clutch of upbeat earnings reports led by PayPal as investors looked past more weak jobs data caused by the coronavirus-induced economic downturn.
Uber Technologies Inc said on Thursday it saw encouraging signs in markets hit by the coronavirus epidemic as it posted a 14% rise in revenue growth, supported by its Uber Eats food-delivery business.
Michigan Governor Gretchen Whitmer on Thursday said the state's factories can reopen on May 11, removing one of the last major obstacles to North American automakers bringing thousands of laid-off employees back to work amid the coronavirus pandemic.
U.S. automaker Ford Motor Co said on Thursday it is planning to restart production and operations in North America in a phased manner, starting May 18.
Department store chain Macy's Inc on Thursday delayed its first-quarter earnings report to July 1, citing significant business disruption due to the COVID-19 pandemic, which has also led to delay in financial statement preparation.
Uber Technologies Inc ride service bookings rose last week and the company expects a coronavirus-related slowdown will delay the goal of becoming profitable by a matter of quarters, not years, Chief Executive Dara Khosrowshahi said on Thursday.