Fed Says Coronavirus Remains a Top U.S. Financial Risk
The coronavirus pandemic remains a top risk to the U.S. financial system, the Federal Reserve said in a report released Monday, warning that uncertainty over the course of the virus and its economic and financial consequences remains unusually high.
Dow Surges to Highest Level Since February
U.S. stocks flirted with record levels after Democrat Joe Biden's electoral victory and a vaccine developed by Pfizer and BioNTech proved better than expected at protecting people from Covid-19 in a pivotal study.
Fed's Mester Says Monetary Policy in Good Place, Would Welcome More Fiscal Aid
Federal Reserve Bank of Cleveland President Loretta Mester said Monday she's happy with the current settings of Federal Reserve policy amid the continuing pandemic, adding she would welcome more economic aid from the government, while noting it is possible for the central bank to do more if needed.
New U.S. Coronavirus Cases Exceed 100,000 for a Fifth Day
Total confirmed coronavirus cases in the U.S. since the pandemic began surpassed 10 million on Monday, as the spread of the virus accelerated nationwide and after several record-breaking days of new infections over the past week.
Popular Trading Platforms Have Technical Difficulties as Stocks Surge
Charles Schwab and TD Ameritrade were among companies saying customers experienced problems. Several platforms cited extreme trading volumes as investors rushed to buy and sell shares.
Joe Biden Focused on Coronavirus to Kick Off Transition
President-elect Joe Biden started the first week of his transition focused on the coronavirus pandemic, as both political parties weigh how to handle potential distribution of a vaccine in light of positive news from Pfizer and partner BioNTech.
Possible Vaccine Powers Bond-Yield Surge, Adding to Postelection Volatility
Hopes for an end to the coronavirus crisis drove U.S. government-bond yields near new multimonth highs, fueled by traders' latest scramble to adjust positions after the presidential election upended months of bond-market calm.
China Car Sales Keep on Trucking in Pandemic Recovery
Auto sales in China rose for a fourth straight month in October, as the country's rebound from the coronavirus pandemic gained momentum.
U.K. Requires Companies to Report on Climate Change by 2025
The U.K. said that companies need to report the financial impacts of climate change on their businesses within the next five years, becoming the first country to make the disclosures mandatory as investors and governments demand corporations curb their greenhouse gas emissions.
U.K. Sets Plan to Keep Up With New York as Financial Center Post-Brexit
U.K. Treasury Chief Rishi Sunak outlined a review of finance rules, including possible ways to make it easier for companies to raise money in London, aimed at keeping the country's financial sector competitive with New York's after Brexit.
(END) Dow Jones Newswires