U.S. Sent Workers Nearly $250 Billion in $600-a-Week Jobless Aid
The federal government spent almost $250 billion on enhanced unemployment benefits from early April to the end of July, the Labor Department said, as millions of workers were laid off amid the pandemic.
Stocks Edge Higher to Start the Week
Prospects for a new stimulus bill, tensions with China and the pace of new coronavirus infections are weighing on the stock market, though industrial and energy shares rose.
Federal Budget Deficit Shrank in July
The federal budget deficit shrank last month from a year earlier as households and businesses made tax payments that had been delayed from April, the Congressional Budget Office estimated.
Biotech IPOs Beat Record During Pandemic
The recent surge in biotech stocks extends beyond IPOs, as investors chase companies working on potential vaccines to combat Covid-19. But some longtime investors are wary of the run-up and warn there are risks to chasing companies at early stages of development.
China Sanctions 11 Americans Over U.S. Moves on Hong Kong
China said it would impose sanctions on 11 U.S. citizens, including Republican Sens. Ted Cruz and Marco Rubio, in retaliation for similar measures by Washington against Hong Kong and mainland Chinese officials.
Utilities Lose Their Recession Spark
Traditionally seen as recession-proof, utilities have been underperforming the broader U.S. market in the current economic downturn. That may present a buying opportunity for investors harboring doubts about the latest bull market.
Turkish Lira's Fall Drives Concerns for Euro
The renewed pressure on the currency is raising alarms about Turkey's long-term ability to repay its foreign debtors, which include European banks.
Total Seizure in Global Tourism Is a Lingering Threat for Emerging Markets
For some developing economies, income from tourism is the difference between running a current-account deficit and a surplus, and depressed travel volumes put them at greater risk of financial shocks.
Home-Building Stock Index Reaches First Record in 15 Years
Shares of home builders have been on a tear since the stock market bottomed in late March, boosted by a recovery in the housing market as record-low mortgage rates draw buyers.
One-Third of U.K. Companies Cut Guidance
U.K.-quoted companies issued 165 profit warnings in the second quarter of the year, almost 100 more than the same time a year prior and coming on top of record-breaking earnings downgrades in the first quarter.