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.
Asian stocks were set to climb on Tuesday as confidence in an economic recovery pushed the Nasdaq benchmark to a record high, although doubts about crude supply cuts were likely to keep oil prices under pressure.
Oil prices climbed on Tuesday, paring losses from the previous session, as markets broadly rose on growing confidence in a global recovery with pandemic lockdowns easing.
Cathay Pacific Airways Ltd and its major shareholders Swire Pacific Ltd and Air China Ltd halted trading in their shares in Hong Kong on Tuesday pending announcements.
International Business Machines Corp disclosed Monday it will no longer offer facial recognition or analysis software in a letter to Congress calling for new efforts to pursue justice and racial equity, new Chief Executive Officer Arvind Krishna said.
In May 2019, China's central bank announced a shock takeover of a lender, its first such move in 20 years, citing "serious credit risks". Creditors in small Baoshang Bank were to take a hit, assets would be sold and an example set for governance.
Taiwan Semiconductor Manufacturing Co Ltd's planned factory in the United States is "definitely in line with" the company's interests, Chairman Mark Liu told investors on Tuesday.
The U.S. units of China Telecom Corp’s and China Unicom urged the Federal Communications Commission (FCC) not to revoke the company's nearly two-decade old authorization to provide international telecommunications services to and from the United States.