S&P 500 Climbs, But Closes Below a Record

U.S. stocks rallied more than 1%, with the S&P 500 finishing the day just below its February high. 


 
Oil Demand Faces Bigger Coronavirus Shock Than Previously Thought

The coronavirus pandemic will have an even bigger impact on the global economy and its demand for oil than previously expected, OPEC said. 


 
Coronavirus Negotiators Remain 'Miles Apart,' Pelosi Says

A dayslong standoff between Democrats and Republicans over another coronavirus-relief bill showed no signs of abating Wednesday, as negotiations threatened to stall until next month, when lawmakers must reach an agreement to keep the federal government funded. 


 
U.S. Deficit Totaled $2.8 Trillion From October Through July

The federal deficit totaled $2.8 trillion in the first 10 months of the fiscal year, as government spending to combat the coronavirus continued to outpace federal tax collection. 


 
U.S. Corn Supply Grows on Record Crop Yield

USDA projects corn production in 2020 to further expand thanks to good growing weather in the Midwest. 


 
Fed Official Warns Pandemic Response Is Hobbling Economic Rebound

Boston Fed President Eric Rosengren said a recent slowdown in U.S. economic activity is likely to persist because of difficulties states have encountered in suppressing the coronavirus pandemic. 


 
Treasurys Stabilize After 10-Year Note Auction

A wave of selling pressure that has hit the U.S. government bond market in recent days showed signs of easing Wednesday after investors got past a $38 billion auction of new 10-year notes. 


 
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. 


 
As Kamala Harris Joins Biden Ticket, Wall Street Sighs in Relief

The financial industry's reception of Joe Biden's running mate reflects the belief that the presumptive Democratic nominee has so far fended off his party's more progressive wing that has called for tougher financial regulation. 


 
July Consumer Prices Rise Amid Increased Demand for Range of Goods, Services

The consumer-price index-which measures what consumers pay for everyday items including groceries, medical care and electricity-climbed a seasonally adjusted 0.6% in July, the Labor Department said Wednesday.