Category: Economy

Safe-haven dollar lifted by rise in coronavirus cases

WallStreetReview
Safe-haven dollar lifted by rise in coronavirus cases
FILE PHOTO: Saudi riyal, yuan, Turkish lira, pound, U.S. dollar, euro and Jordanian dinar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration NEW YORK (Reuters) – The U.S. dollar was slightly higher on Wednesday afternoon as evidence of a surge in coronavirus cases in some U.S. states and in Beijing sent investors into safe-haven assets. The... Read More

U.S. homebuilding rises moderately; jump in permits hints at green shoots

WallStreetReview
U.S. homebuilding rises moderately; jump in permits hints at green shoots
WASHINGTON (Reuters) – U.S. homebuilding increased less than expected in May, but a strong rebound in permits for future home construction suggested the housing market was starting to emerge from the COVID-19 crisis along with the broader economy. FILE PHOTO: A new apartment building housing construction site is seen in Los Angeles, California, U.S. July 30, 2018. REUTERS/Lucy Nicholson Other... Read More

Asian business sentiment plunges to record low on virus effect: Thomson Reuters/INSEAD survey

WallStreetReview
Asian business sentiment plunges to record low on virus effect: Thomson Reuters/INSEAD survey
SINGAPORE (Reuters) – Business sentiment of Asian companies sank to an 11-year low in the second quarter, a Thomson Reuters/INSEAD survey found, with some two-thirds of the firms polled flagging a worsening COVID-19 pandemic as the biggest risk over the next six months. FILE PHOTO: A worker wearing a protective suit takes body temperature measurement of a man inside the... Read More

Why some black-owned U.S. businesses are hardest hit by coronavirus shutdowns

WallStreetReview
Why some black-owned U.S. businesses are hardest hit by coronavirus shutdowns
WASHINGTON/NEW YORK (Reuters) – After 15 years working as a hair stylist in other people’s salons, Gary Connell opened his “Healthy Hair” studio in Montgomery County, Maryland in early March, sinking his savings into a two-chair shop in a busy mall. It hadn’t even been up and running for a full month when stay-at-home orders were issued because of the... Read More

U.S. economy starts long recovery as retail sales post record jump

WallStreetReview
U.S. economy starts long recovery as retail sales post record jump
WASHINGTON (Reuters) – U.S. retail sales increased by the most on record in May after two straight months of sharp declines as businesses reopened, offering more evidence that the recession triggered by the COVID-19 pandemic was over or drawing to an end. FILE PHOTO: A customer pays for his purchase in the doorway of Dave’s New York, a retail store,... Read More

New York area business activity shows signs of improvement in June

WallStreetReview
New York area business activity shows signs of improvement in June
FILE PHOTO: A man crosses a nearly deserted Fulton Street in the financial district in lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., April 3, 2020. REUTERS/Mike Segar (Reuters) – Business conditions in the New York region began to show signs of improvement in June, and companies have started bringing their... Read More

U.S. retail sales post record increase; big hole remains

WallStreetReview
U.S. retail sales post record increase; big hole remains
WASHINGTON (Reuters) – U.S. retail sales increased by the most on record in May after two straight months of sharp declines as businesses reopened, offering more evidence that the recession triggered by the COVID-19 pandemic was over or drawing to an end. FILE PHOTO: A customer pays for his purchase in the doorway of Dave’s New York, a retail store,... Read More

U.S. consumer confidence rises; COVID-19, unemployment shadow lingers

WallStreetReview
U.S. consumer confidence rises; COVID-19, unemployment shadow lingers
WASHINGTON (Reuters) – U.S. consumer sentiment perked up in early June as households cheered the reopening of businesses and a surprise rebound in hiring, though they did not expect a significant improvement in the economy amid fears of a resurgence in COVID-19 infections. FILE PHOTO: A shopkeeper works inside his retail store as the phase one reopening of New York... Read More

What rebound? North Dakota in economic crunch as virus batters oil, agriculture

WallStreetReview
What rebound? North Dakota in economic crunch as virus batters oil, agriculture
NEW YORK/CHICAGO (Reuters) – When the novel coronavirus first appeared in the United States, North Dakota was in the envious position of having more money in its state coffers than it had budgeted. FILE PHOTO: Pumpjacks taken out of production temporarily stand idle at a Hess site while new wells are fracked near Williston, North Dakota November 12, 2014. REUTERS/Andrew... Read More