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News Highlights: Top Global Markets News of the Day

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07/13/2020 | 05:15pm EDT
Fed's Kaplan Says Coronavirus Case Surge Has Slowed Pace of Recovery 
 

Recent U.S. economic data points to a slowing recovery as the number of cases of illness related to the coronavirus pandemic surge across the country, Federal Reserve Bank of Dallas President Robert Kaplan said Monday.

 
Stock Rally Loses Steam in Volatile Session 
 

A rally in U.S. stocks fizzled after California rolled back its reopening plans and Los Angeles schools said they would start the year online, spurring worries about another coronavirus lockdown.

 
Fed's Williams: SOFR Rate System Has Performed Well During Crisis 
 

Federal Reserve Bank of New York President John Williams said that a replacement for the scandal-plagued Libor interest-rate reference regime has fared well amid the stresses seen in the financial system during the coronavirus pandemic.

 
California Pulls Back on Reopening Amid Surge in Virus Cases 
 

Officials in the sprawling state ordered indoor activities in a host of public places to be closed and declared that students in California's two largest school districts wouldn't return to in-person schooling in the fall.

 
Billboard Charts to Stop Tallying Music Sold With T-Shirts, Tickets 
 

The magazine said its music charts will no longer count albums or singles sold in bundles with concert tickets, T-shirts or other memorabilia, a move designed to make the rankings better reflect fans' listening habits.

 
Lenders Oppose Federal Effort to Weaken Housing-Discrimination Rule 
 

The rule change would increase the burden of proof on bringing discrimination cases to court.

 
Blank-Check Boom Gets Boost From Coronavirus 
 

With the IPO market rattled by Covid-19 and wild volatility, using a blank-check company has become a more attractive way to go public. So far in 2020, new listings of such vehicles have raised $12.1 billion.

 
Tech-Stock Rally Isn't Out of Juice Just Yet, Analysts Say 
 

Shares of technology companies have leapt ahead of the stock market, and despite a surge in coronavirus cases and the potential for fresh lockdowns, some analysts say it still isn't too late to catch the rally.

 
OPEC Was Under Pressure Even Before Covid-19 
 

Even before the coronavirus pandemic upended global oil markets, the influence of OPEC-and the group's revenues-were under pressure from competitors and the declining value of its crude, new cartel data show.

 
Don't Buy an Oil Fund With an Identity Problem 
 

Since its inception over 14 years ago, the United States Oil Fund has lost 95% of its value. You can't just blame oil prices.

 
 

Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 0.95% 44.7 Delayed Quote.-34.20%
WTI 1.01% 41.935 Delayed Quote.-34.56%
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