Fed Officials Warn Pandemic Response Is Hobbling Economic Rebound

Central bankers said a recent slowdown in U.S. economic activity was likely to persist because of difficulties states have encountered in suppressing the coronavirus pandemic, which could require more government spending to support the economy. 


 
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. 


 
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. 


 
U.S. Oil Refiners Accelerate Shift to Renewables in Downturn

Phillips 66 plans to convert a San Francisco-area oil refinery into a biofuels plant, the oil industry's latest move amid depressed fuel consumption and growing U.S. regulatory pressures. 


 
Tankers Waiting for Weeks off Congested China Ports, Oil Facilities

Crude-laden tankers have been lining up for weeks at a time off China's coast as ports struggle to handle the millions of barrels of inbound oil that have swamped the country's overfilled storage sites. 


 
Rising Treasury Yields Challenge Precious Metals Rally

Gold prices closed slightly higher after a wild trading session, extending a volatile spell for the market as climbing yields on U.S. government bonds sap investors' appetite for the precious metal. 


 
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. 


 
Taiwan Seeks to Start Free-Trade Talks With U.S.

Taiwanese President Tsai Ing-wen said she wants to start talks on a free-trade pact with the U.S., part of a broad effort to deepen her island democracy's partnership with Washington and resist pressure from Beijing.