Page 41 - Us Economy

Banks stockpile billions as they prepare for things to get worse

Collectively, JPMorgan Chase, Citigroup and Wells Fargo have put aside $25 billion during the second quarter, they said. As a result, their quarterly profits plunged.

Covid-19: Moderna soars 18% as vaccine gives promising early results

The US biotech firm's breakthrough is one of the most promising developments yet in the race to develop a vaccine against the virus that has paralysed the world's economy.

JP Morgan beats estimates on trading boost, braces for rising defaults

JP Morgan's trading revenue surged 77% in a quarter that saw record-breaking volumes in financial markets.

S&P 500, Dow Jones rise after mixed bank earnings; tech-heavy Nasdaq falls

Largest US lender JP Morgan Chase & Co was up 0.2% after it posted a smaller-than-expected 51% drop in second-quarter profit.

US budget deficit hits all-time high of $864 bn in June amid Covid pandemic

For the first nine months of this budget year, which began on October 1, the deficit totals $2.74 trillion, also a record for that period

Buy American: Joe Biden unveils US-centered economic plan to counter Trump

Democratic Party candidate accuses President Trump of ignoring the coronavirus pandemic and the climate crisis.

Federal Reserve officials suggest recovery of US economy may be stalling

Seemingly rapid rebound in jobs, retail sales and some other measures of activity in May and June may not persist, recent data shows.

Policy change on foreign students is misguided: US varsities and lawmakers

Stanford President Marc Tessier-Lavigne expresses his concern that the decision will create more uncertainty and complexity for international students

Covid-19 impact: Fed policymakers see economy plateauing, risks ahead

Business owners are "nervous again," Ralph Bostic, president of the Atlanta Federal Reserve Bank, said in webcast remarks to the Tennessee Business Roundtable.

Wall Street ends lower after strong recent rally as Covid-19 cases mount

Strategists said investors may be taking profits after the recent run higher.

Oil prices steady as economic data overshadows coronavirus worries

Brent crude futures settled at $43.08 a barrel, down 2 cents in the session. US West Texas Intermediate settled down 1 cent at $40.62 a barrel.

Wall Street gains on strong services sector data; Dow, S&P rise over 1%

A sharp jump in Covid-19 cases recently in the United States has cast a shadow over the strong rally in stocks as many states have curtailed their reopening plans

Oil steady as hopeful economic data face spike in coronavirus cases

Brent crude settled at $43.10 a barrel, up 30 cents.

Donald Trump extends Covid-19 relief package for small businesses

The legislation extends the June 30 deadline for applying for the programme to August 8.

Unemployment gap between black and white Americans widest in 5 years

Jobless rates for both groups fell in June, but the rate for whites came down at a much faster rate

US Fed revisits Great Recession-era idea of keeping low interest rates

Fed officials anticipate the United States will suffer the worst economic downturn since World War Two, and they have no intent to let up on providing stimulus for the foreseeable future

'Extraordinarily uncertain': Fed chief Powell on outlook for US economy

Fed Chairman Jerome Powell said the outlook for the US economy was 'extraordinarily uncertain' and the success of the recovery effort would depend on its ability to contain the coronavirus spread

Wall Street opens higher on hopes of stimulus, decline in Covid-19 cases

The Dow Jones Industrial Average rose 136.90 points, or 0.55%, to 25,152.45 at the open.

Covid-19 woes: US jobless claims last week totalled to nearly 1.5 million

With the latest numbers, a staggering 47 million initial jobless claims have been filed over the past 14 weeks

Trump threat to 'decouple' US and China hits trade, investment reality

White House trade adviser Peter Navarro gave Asian markets a scare on Monday night by telling Fox News Channel that the U.S.-China trade deal was "over"