Page 39 - Us Economy
US job market recovery appears to be slowing, services sector rising ahead
While other data on Wednesday showed activity in the vast services sector gained momentum in July as new orders raced to a record high, hiring declined
 "US job market recovery appears to be slowing, services sector rising ahead")
US telemedicine provider Teledoc to spend $18 bn on Livongo Health
Telemedicine involves care delivered remotely, often with a live video connection through patient smartphones or tablets.
 "US telemedicine provider Teledoc to spend $18 bn on Livongo Health")
Federal Reserve policymakers call for fiscal support to save US economy
The calls for increased government intervention came as US lawmakers and the White House resumed talks on a new government relief package
 "Federal Reserve policymakers call for fiscal support to save US economy")
US economic stimulus: Treasury projects record Q3 borrowing of $947 billion
Treasury officials also announced that the government plans to borrow $1.22 trillion in the October-December period
 "US economic stimulus: Treasury projects record Q3 borrowing of $947 billion")
Lord & Taylor, oldest department store in US, files for bankruptcy
The company, founded in Manhattan by two English immigrants in 1826, said it had about $137.9 million of debt obligations
 "Lord & Taylor, oldest department store in US, files for bankruptcy")
Fed's Barkin says economy faces 'sinkhole' without more fiscal support
US central bank officials have become increasingly pessimistic about the short-term outlook for the economy amid a resurgence in coronavirus infections across the country
 "Fed's Barkin says economy faces 'sinkhole' without more fiscal support")
US manufacturing improves in July, outlook clouded by Covid-19 pandemic
The Institute for Supply Management, an association of purchasing managers, said Monday that its manufacturing index rose to 54.2 last month, up from a June reading of 52.6
 "US manufacturing improves in July, outlook clouded by Covid-19 pandemic")
Investors preparing portfolios for a potentially rocky patch in US stocks
Most money managers are wary of cutting equity exposure too drastically in a market that has rallied more than 40% since late March
 "Investors preparing portfolios for a potentially rocky patch in US stocks")
Advertisement demand drives Pinterest's quarterly results; shares surge 28%
More people turned to Pinterest's platform for content to keep themselves entertained during coronavirus lockdowns
 "Advertisement demand drives Pinterest's quarterly results; shares surge 28%")
Covid-19 impact on GDP to be felt for years in advanced economies: Fitch
Huge uncertainties surround the economic outlook in aftermath of the massive shock in H1 2020
 "Covid-19 impact on GDP to be felt for years in advanced economies: Fitch")
Market Ahead, July 31: Top factors that could guide markets today
The June quarter results by Reliance Industries will be a major focus in the markets today. Besides, investors will also react to global cues, Covid-19 trends and other corporate results
 "Market Ahead, July 31: Top factors that could guide markets today")
S&P, Dow fall on grim economic data, US election uncertainty, earnings
Investors also fretted ahead of high-profile earnings reports and expiration of enhanced employment benefits
 "S&P, Dow fall on grim economic data, US election uncertainty, earnings")
Covid-19: US economy records worst quarterly plunge ever, GDP shrinks 33%
The previous worst quarterly contraction, a 10 per cent drop, occurred in 1958 during the Eisenhower administration
 "Covid-19: US economy records worst quarterly plunge ever, GDP shrinks 33%")
1.4 mn sought US jobless aid last week underlining Covid-19 devastation
The Labor Department's report Thursday marked the 19th straight week that more than 1 million people have applied for unemployment benefits
 "1.4 mn sought US jobless aid last week underlining Covid-19 devastation")
US economy likely suffered historic plunge in Q2; outlook grim due to virus
Federal Reserve Chair Jerome Powell on Wednesday acknowledged the slowdown in activity
 "US economy likely suffered historic plunge in Q2; outlook grim due to virus")
Wall Street adds to gains after Fed pledges more support to US economy
At the end of its two-day policy meeting the Fed said it maintained its interest rate target range until it is confident the economy has weathered the virus
Fed pledges to keep rates near zero, says recovery will depend on Covid-19
The Federal Reserve also said it is open to use its 'full range of tools' to recover from the fallout from the coronavirus outbreak
Oil gains on sharp US crude inventory drop; Covid-19 keeps surge in check
Brent crude futures gained 35 cents to $43.57 a barrel by 10:57 a.m. EDT (1457 GMT). US West Texas Intermediate crude futures were up 18 cents to $41.22.
 "Oil gains on sharp US crude inventory drop; Covid-19 keeps surge in check")
US expected to report record-breaking economic plunge due to Covid-19
On Thursday, the government will issue its first of three estimates of economic activity, as measured by the gross domestic product, for the April-June quarter.
 "US expected to report record-breaking economic plunge due to Covid-19")
Biden attacks Trump, vows to combat racial inequality with economic plan
Democrat says Trump is exacerbating social discord across the country by sending federal authorities into major cities under the pretense of addressing crime
 "Biden attacks Trump, vows to combat racial inequality with economic plan")
