S&P 500 Futures Rise, Pointing to August Rally Extension 
 

U.S. Treasury yields are on track for a fourth day of gains, while gold wavered below $2,000 a troy ounce.


 
China's Xi Speeds Up Inward Economic Shift 
 

With the world in recession and U.S.-China tensions deepening, President Xi Jinping is laying out a major initiative to accelerate China's shift toward more reliance on its domestic economy.


 
Coronavirus-Hit State Budgets Create a Drag on U.S. Recovery 
 

Spending cuts by state and local governments grappling with the coronavirus pandemic pose a headwind to the U.S. economic recovery as lawmakers consider how much federal aid to provide.


 
U.S. Daily Coronavirus Case Count Holds Steady at Under 50,000 
 

The U.S. reported more than 46,000 new coronavirus cases, similar to the tallies of the past two days, while death rates in parts of the country continued to rise.


 
U.K. Economy Shrinks by More Than Any Other Rich Country 
 

The U.K. recorded a steeper second-quarter contraction than its peers, a performance that means it suffered the worst economic hit from coronavirus in Europe as well as reporting the highest death toll.


 
To Keep Rallying, Gold Prices Need a New Fuel 
 

Tumbling real U.S. interest rates have fueled the sharp increase in the price of gold. To continue rallying toward lofty $3,000 forecasts, something more will be required.


 
Fed to Lower Rates for Cities, States Seeking Short-Term Loans 
 

The Federal Reserve said it would reduce the rates it charges cities and states seeking short-term loans from an emergency lending program that has seen little takeup so far.


 
A Chunk of Corporate Travel May Be Gone Forever. But How Much? 
 

Airline and hotel executives don't ask themselves whether corporate travel will be permanently reduced due to Covid-19. They ask themselves by how much-and the forecasts look scary.


 
Commercial Properties' Ability to Repay Mortgages Was Overstated, Study Finds 
 

Many borrowers are struggling because of the coronavirus. The study showed that even during normal economic times, mortgaged properties' net income often falls short of the amount underwritten by lenders.


 
RBNZ Increases Asset Purchase Program Limit to $65.8 Billion 
 

The Reserve Bank of New Zealand said it is raising the limit of its large-scale asset purchase program to US$65.77 billion to counter the pandemic's economic damage.