U.S. Stocks Drop Despite Fall in Jobless Claims

The Dow and S&P 500 slipped as data showed fewer Americans applied for jobless benefits and lawmakers in Washington remained far apart on a spending plan. 


 
China's Economic Activity Improved in July

China's economic activity in July continued to improve from the coronavirus shocks, according to latest economic data released Friday, but the growth momentum cooled slightly as Beijing stopped further revving-up measures. 


 
New U.S. Coronavirus Cases Tick Up Again

The U.S. reported nearly 56,000 new coronavirus cases, the highest daily tally in four days, as communities around the country face decisions on whether to reopen schools in the fall. 


 
U.S. Seizes Iranian Fuel Cargo for First Time

The Trump administration confiscated vessels allegedly loaded with Iranian fuel in violation of sanctions, stepping up its campaign against Tehran. 


 
Australia Monetary Policy at Full Throttle, RBA Gov. Says

Reserve Bank of Australia Gov. Philip Lowe said monetary policy is at, or close to being at full throttle, and government spending and structural reforms would be needed now to fight off the economic downturn brought on by the Covid-19 pandemic. 


 
White House Says Most Coronavirus Job Losses Likely to Be Temporary

Robust federal spending significantly lessened the economic pain caused by the coronavirus pandemic, White House economists said, adding that more relief efforts would further aid the recovery. 


 
Weekly Unemployment Claims Drop Below 1 Million

U.S. unemployment claims fell below one million last week for the first time since the coronavirus pandemic hit the U.S. in March, as the deeply wounded labor market continues to regain some footing. 


 
Trump's Payroll-Tax Deferral Plans Spur Confusion

President Trump's gambit to defer Social Security payroll taxes for the rest of the year and pressure Congress into forgiving them is turning into a logistical challenge, with its rollout complicated by his own unclear statements about the plan. 


 
Real Businesses Snared in Hunt for Pandemic Loan Scammers

Efforts to root out scammers in the $670 billion Paycheck Protection Program and $374 billion Economic Injury Disaster Loan program are sweeping up legitimate borrowers. 


 
WSJ Survey: Benefits of Extra Unemployment Aid Outweigh Work Disincentive

While economists in the August survey see a bigger third-quarter rebound than they did a month earlier, they still expect the recovery to take a long time.