White House Won't Issue Economic Projections This Summer

The White House won't issue updated economic projections this summer because of uncertainty caused by the coronavirus pandemic, according to a senior administration official. 


 
Stocks Extend Rally as Jobless Claims Fall

The S&P 500 and Dow industrials climbed after data showed a drop in the number of Americans filing for unemployment. 


 
Easing Unemployment Claims Show Slower Pace of Virus-Related Layoffs

U.S. workers filed fewer unemployment applications for the eighth straight week, but the level of claims remained 10 times higher than before the coronavirus pandemic. 


 
U.S. Economy Contracted 5% in the First Quarter as Coronavirus Hit

The U.S. economy's first-quarter contraction was slightly steeper than initially estimated, and a key measure of corporate profits weakened as coronavirus-related shutdowns began to come into effect. 


 
Pending Home Sales Plunge, but Housing Market Shows Signs of Recovery

Real-estate brokers and economists are already pointing to early signs that the housing market is on the rebound. 


 
U.S. Crude-Oil Inventories Rise Sharply

U.S. inventories of crude oil unexpectedly surged higher even as refinery activity increased, according to data released Thursday by the Energy Information Administration. 


 
EU Took Big Step With Coronavirus-Recovery Proposal-Now Comes the Hard Part

Plans announced by European Union officials to address the bloc's coronavirus-triggered economic crisis have surprised longtime EU watchers with their speed and gutsiness. If member states get onboard, the program stands to chart a new path for the bloc. 


 
Chinese Policy Makers Have Stimulus Measures Ready, Premier Says

Premier Li Keqiang emphasized that China's abandonment of its formal growth target didn't diminish the importance of economic growth. 


 
Iran's Economy Is in Crisis; Its Stock Market Is on a Tear

Crushed by U.S. sanctions and weak oil prices, Iran has one of the world's most battered economies. It also hosts one of the best-performing stock markets. 


 
Global Glut Keeps a Lid on Natural-Gas Prices

Mild May weather has limited domestic demand, brimming storage facilities abroad have reduced exports and the flow from oil wells hasn't declined by as much as expected.