U.S. Stock Futures Signal Pause in Week's Sharp Rally
The rebound in U.S. stocks appeared set to pause, with futures drifting as tensions with China mounted and investors awaited jobless claims data.
Unemployment Claims Expected to Continue Easing
Applications for unemployment insurance are expected to have declined last week for the eighth straight decrease, but the number of workers seeking assistance remains about 10 times higher than before coronavirus-related lockdowns began in March.
Weakening of Foreign Currencies Opens Up Hedging Options
Alamos Gold Inc. last month decided to take advantage of low currency-exchange rates for the Canadian dollar and Mexican peso against the U.S. dollar. The Canadian gold miner protected more of its currency exposure and extended that cover for a longer period.
Fashion Stockrooms Are Bursting at the Seams
Unsold merchandise has piled up at clothing retailers during lockdowns. That is bad news for profit margins but great for shoppers.
U.S. Officially Declares That Hong Kong Is No Longer Autonomous
The State Department has officially determined that Hong Kong is no longer autonomous from China, Secretary of State Mike Pompeo said in a statement that holds implications for the future of economic ties and could lead to sanctions against China.
U.S. Businesses See Few Signs of Recovery Through Mid-May
U.S. businesses saw limited evidence of a recovery in recent weeks, with economic activity continuing to decline amid the coronavirus pandemic, the Federal Reserve said Wednesday.
Bank of Korea Cuts Rate to Record Low
South Korea's central bank cut its base rate to a record low on Thursday, adding further stimulus as the coronavirus pandemic threatens to drag growth to its lowest in more than two decades.
Investors Cheer Europe's Step Toward United Bond Market
Bond investors cautiously cheered a proposal by the European Union to issue centrally backed bonds for the first time, a move that attempts to address financial divisions that have long plagued the eurozone.
RBA's Lowe Less Downbeat on Australian Economy
Reserve Bank of Australia Gov. Philip Lowe told a parliamentary committee on Covid-19 that the economy is now tracking somewhere between the central bank's earlier published central economic scenario and an upside scenario.
