Easing Unemployment Claims Show Slower Pace of Virus-Related Layoffs
U.S. workers filed fewer unemployment applications for the eighth straight week, but the level of claims remained 10 times higher than before the coronavirus pandemic.
Stocks Edge Up as Jobless Claims Fall
The S&P 500 and Dow industrials ticked higher after data showed a drop in the number of Americans filing for unemployment.
U.S. Economy Contracted 5% in First Quarter
The U.S. economy's first-quarter contraction was slightly steeper than initially estimated, and a key measure of corporate profits weakened as coronavirus-related shutdowns began to come into effect.
Chinese Policy Makers Have Stimulus Measures Ready, Premier Says
Premier Li Keqiang emphasized that China's abandonment of its formal growth target didn't diminish the importance of economic growth.
Global Glut Keeps a Lid on Natural-Gas Prices
Mild May weather has limited domestic demand, brimming storage facilities abroad have reduced exports and the flow from oil wells hasn't declined by as much as expected.
Weakening of Foreign Currencies Opens Up Hedging Options
Companies are seeing a hedging opportunity as several currencies have weakened against the U.S. dollar over the past few months.
Fashion Stockrooms Are Bursting at the Seams
Unsold merchandise has piled up at clothing retailers during lockdowns. That is bad news for profit margins but great for shoppers.
U.S. Officially Declares That Hong Kong Is No Longer Autonomous
The State Department has officially determined that Hong Kong is no longer autonomous from China, Secretary of State Mike Pompeo said in a statement that holds implications for the future of economic ties and could lead to sanctions against China.
U.S. Businesses See Few Signs of Recovery Through Mid-May
U.S. businesses saw limited evidence of a recovery in recent weeks, with economic activity continuing to decline amid the coronavirus pandemic, the Federal Reserve said Wednesday.