White House Weighs Options for Next Stimulus Bill

President Trump's economic team wants to encourage the public to return to work and resume normal life, including going to restaurants and taking vacations, in its proposals for the next coronavirus relief package. 


 
British Pound Climbs on Optimism Over EU Trade Talks

The British pound rose to its highest level against the U.S. dollar in a month as investors grew more optimistic about trade negotiations between the U.K. and the European Union. 


 
Oil Rallies With Traders Anticipating Supply Cuts

Crude prices continued a recent rebound as analysts anticipate that oil producers led by Saudi Arabia and Russia will extend supply curbs in response to the energy industry's crisis. 


 
China Central Bank Vows to Step Up Policy Support for Pandemic-Hit Economy

The China central bank's vice governor said that the coronavirus pandemic's impact on the Chinese economy is bigger than expected and more monetary support measures will be rolled out to support growth and job markets. 


 
China Caixin Service PMI Rebounds Sharply in May

A private gauge of China's service sector activity rebounded sharply to a nearly 10-year high in May as domestic demand recovered amid government measures to buoy economic growth. 


 
Australia's Economy Contracts in 1st Quarter, Setting Scene for Recession

Australia's economy contracted in the first quarter for the first time since 2011, as the impact of bush fires and coronavirus-related lockdowns scuttled consumer buying and confidence, setting the scene for the country's first recession in nearly 30 years. 


 
South Korea Proposes New Stimulus Amid Pandemic

South Korea's government has proposed a new extra budget worth $28.9 billion, stepping up its fiscal stimulus to ease the economic impact of the coronavirus pandemic. 


 
Fauci 'Cautiously Optimistic' About Coronavirus Vaccine

The federal health expert said he believes it is likely that successful vaccine candidates would prove effective 'within a reasonable period of time' to fight the novel pathogen. 


 
China Nudges Banks to Help Small Businesses

China is dabbling with Western-style unconventional monetary policy, as it seeks to shore up small businesses and the labor market without fueling market bubbles. 


 
U.S. Stocks Close Higher Despite Social Unrest

The Dow industrials and S&P 500 finished higher as investors weighed the pace of an economic recovery, risks from U.S.-China tensions, the coronavirus and growing social tension in the U.S.