Global Stocks Follow U.S. Higher on Coronavirus Vaccine Hopes

International markets rose after U.S. stocks surged on hopes that a new vaccine could help combat the coronavirus pandemic. 


 
Powell Says Fed Prepared to Use 'Full Range of Tools' to Support Economy

The Federal Reserve chairman and the Treasury secretary are set to testify before a congressional panel on Tuesday. 


 
France, Germany Propose EUR500 Billion EU Pandemic Recovery Fund

France and Germany on Monday proposed establishing a EUR500 billion Europe-wide recovery fund to support European regions worst hit by the coronavirus pandemic. 


 
Investors Bet on ECB in Risky Bond Buying Spree

Investors are lapping up a record amount of Southern European sovereign debt in a hunt for yield, and counting on the region's central bank to backstop the riskiest bonds. 


 
U.K. Unemployment Claims See Record Monthly Jump

The number of people claiming unemployment benefits in the U.K. recorded the biggest monthly jump on record in April, with 856,500 new claims. 


 
Global Economic Recovery Might Take Up to 3 Years, Say European Bosses

More than 80% of top European business leaders expect a recovery from the coronavirus pandemic will take between one and three years and have overwhelmingly pessimistic views on their companies' near-term prospects, according to a survey by the Conference Board. 


 
European Ports Hit Hard by Coronavirus Lockdowns

European ports have been the world's hardest hit trade gateways from the coronavirus pandemic, with up to two-thirds reporting significant declines in ship calls this month. 


 
Fed's Bostic: Fed Disinclined to Penalize Banks for Emergency Lending Choices

The Federal Reserve Bank of Atlanta President said he doesn't plan to heavily second guess decisions banks have taken during the coronavirus crisis. 


 
RBNZ Official Says Negative Rates Have Undeserved 'Bad Rap'

The Reserve Bank of New Zealand is considering unconventional tools such as a negative cash rate because the coronavirus pandemic has created high uncertainty and skewed economic risks to the downside, Assistant Gov. Christian Hawkesby said. 


 
Home-Builder Confidence Increased in May After Record Drop Last Month

A measure of U.S. home-builder confidence improved in May following the index's biggest one-month drop last month as coronavirus-related shutdowns affected the economy.