Wall Street jumped at the open on Thursday, after the Federal Reserve rolled out a $2.3 trillion program to bolster local governments and businesses, while the initial jobless claims slipped to 6.6 million last week from an upwardly revised 6.87 million the prior week.
Will be it a U? A V? Maybe a W? Predictions for economic recovery after coronavirus-linked lockdowns are throwing up a medley of letters to indicate whether we can expect a bounceback, a slow-burn recovery or relapse.
The number of Americans seeking unemployment benefits in the last three weeks has blown past 15 million, with weekly new claims topping 6 million for the second straight time last week amid tough measures to control the novel coronavirus outbreak that have abruptly ground the country to halt.
While there have been moves made to improve access to care and reduce the cost for consumers, one person's required share of medical charges could vary wildly from another patient receiving the same treatment.
A staggering 16.8 million Americans have filed for unemployment benefits in the last three weeks, with weekly new claims topping 6 million for the second straight time last week as the novel coronavirus outbreak relentlessly savages the economy.
Citigroup Inc said on Thursday it is offering full-time positions to its interns, but delaying the new class of summer intern program to July 6 amid the current coronavirus crisis.
Wall Street rose for the third time in four days on Thursday as the U.S. Federal Reserve rolled out a massive $2.3 trillion program to bolster local governments and businesses, while energy stocks jumped on an expected cut in oil production.
OPEC and other oil nations held talks on Thursday on record production cuts of up to 20 million barrels per day, equivalent to about 20% of global supplies, to support prices hammered by the coronavirus crisis, OPEC and Russian sources said.
Top managers at UBS will each contribute the equivalent of three months' salary to fight the coronavirus, its chief executive Sergio Ermotti said on Thursday after the Swiss bank bowed to pressure to suspend its dividend.
Oil prices jumped on Thursday after sources said Russia and Saudi Arabia have a new deal to cut oil output drastically in response to a collapse in global demand from the coronavirus.
The U.S. economy could be headed "fairly quickly" toward recovery if people stay home, government gets aid to businesses and households, and public health officials create a national plan to restart the economy, Federal Reserve Chair Jerome Powell said on Thursday.
The White House is expected to announce soon formation of a second coronavirus task force, this one devoted to getting the U.S. economy going again when the time is right, a senior administration official said on Thursday.
Gorman, 61, is the first Wall Street CEO to disclose that he has tested positive for the coronavirus.
OPEC and it allies held talks on Thursday on record oil output curbs of 15 million to 20 million barrels per day (bpd), or 15% to 20% of global supplies, to support prices hammered by the coronavirus crisis, OPEC and Russian sources said.
Wall Street rose for the third time in four days on Thursday as the U.S. Federal Reserve rolled out a massive $2.3 trillion program to bolster local governments and businesses hammered by the coronavirus outbreak.