Global Stocks Drift Higher on Recovery Hopes

International stock indexes mostly rose, following U.S. markets higher on optimism over signs of an economic recovery and plans for additional stimulus, while shares fell in Hong Kong. 


 
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. 


 
Investors Cheer Europe's Step Toward United Bond Market

Bond investors cautiously cheered a proposal by the European Union to issue centrally backed bonds for the first time, a move that attempts to address financial divisions that have long plagued the eurozone. 


 
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. 


 
Fed's Williams: Economy May Be Bottoming As Fed Weighs Yield-Curve Control

Federal Reserve Bank of New York President John Williams said the worst of the economy's decline from the coronavirus crisis may be over, even as he warned hard days still lie ahead in a climate of considerable uncertainty. 


 
Bank of Korea Cuts Rate to Record Low

South Korea's central bank cut its base rate to a record low on Thursday, adding further stimulus as the coronavirus pandemic threatens to drag growth to its lowest in more than two decades. 


 
RBA's Lowe Less Downbeat on Australian Economy

Reserve Bank of Australia Gov. Philip Lowe told a parliamentary committee on Covid-19 that the economy is now tracking somewhere between the central bank's earlier published central economic scenario and an upside scenario. 


 
New Zealand Job Numbers Dropped by Record in April

The number of people with jobs fell by some 38,000 in April from March to 2.13 million, according to Statistics New Zealand. The fall was the biggest in absolute and percentage terms since the data on jobs started being collected in 1999. 


 
Bank of Mexico Sees Sharp Economic Contraction in 2020

The Bank of Mexico expects the country's economy to contract by at least 4.6% and as much as 8.8% this year as measures to control the coronavirus pandemic have brought many activities to a halt. 


 
U.S. Coronavirus Deaths Top 100,000 as South American Cases Surge

More than 100,000 people in the U.S. have died from the new coronavirus, as reopenings across the country accelerated and rising infections in Brazil, Peru and Chile placed the Americas firmly at the center of the pandemic.