U.S. House Democrats unveil $1.5 trillion infrastructure plan

U.S. House Democrats unveil $1.5 trillion infrastructure plan
WASHINGTON (Reuters) – U.S. House of Representatives Democrats on Thursday unveiled a $1.5 trillion infrastructure bill that they will seek to pass in coming weeks, arguing it has been made more urgent by the coronavirus pandemic. U.S. House Speaker Nancy Pelosi (D-CA) addresses her weekly news conference with Capitol Hill reporters at the U.S. Capitol in Washington, U.S., June 18,... Read More

Wall Street oscillates amid COVID-19 spikes, muted data

Wall Street oscillates amid COVID-19 spikes, muted data
NEW YORK (Reuters) – Wall Street struggled for direction on Thursday as investors weighed a resurgence in coronavirus infections and the possibility of a new round of shutdowns against data that suggested the U.S. economy might not bounce back with quick, V-shaped recovery. Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New York... Read More

Saudi Aramco cuts hundreds of jobs amid oil market downturn, sources say

Saudi Aramco cuts hundreds of jobs amid oil market downturn, sources say
The logo of Aramco is seen as security personnel stand before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. REUTERS/Hamad I Mohammed DUBAI (Reuters) – State oil giant Saudi Aramco (2222.SE) started laying off hundreds of employees this month, two sources familiar with the matter said, as global... Read More

Cash flows into U.S. growth funds surge, value funds see outflows

Cash flows into U.S. growth funds surge, value funds see outflows
(Reuters) – U.S. investors have ramped up investments in growth funds over the past few months on expectations of higher returns and safety, while they dumped value funds despite cheaper prices after this year’s pandemic-linked selloff. FILE PHOTO: Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease... Read More

Oil slides on fresh COVID-19 outbreaks, bump in crude stocks

Oil slides on fresh COVID-19 outbreaks, bump in crude stocks
FILE PHOTO: A view shows railroad freight cars, including oil tanks, in Omsk, Russia May 1, 2020. Picture taken May 1, 2020. REUTERS/Alexey Malgavko/File Photo NEW YORK (Reuters) – Oil prices settled lower on Wednesday on fuel demand worries due to an uptick in coronavirus cases, with emerging hotspots in China and the United States, and as U.S. crude stocks... Read More

Oil slips as fresh COVID-19 outbreaks face draw in U.S. fuel stocks

Oil slips as fresh COVID-19 outbreaks face draw in U.S. fuel stocks
NEW YORK (Reuters) – Oil prices edged lower on Wednesday as a drawdown in U.S. distillate stockpiles for the first time since March and a sharp drop in U.S. crude production faced concerns over fuel demand due to fresh outbreaks of COVID-19. FILE PHOTO: A view shows railroad freight cars, including oil tanks, in Omsk, Russia May 1, 2020. Picture... Read More

S&P 500, Dow muted as rising COVID-19 cases dent recovery hopes

S&P 500, Dow muted as rising COVID-19 cases dent recovery hopes
(Reuters) – The S&P 500 and the Dow edged higher in choppy trading on Wednesday as hopes of a swift recovery from a coronavirus-driven downturn were dented by fears of a record rise in coronavirus cases in six U.S. states. FILE PHOTO: Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New York City,... Read More

Stocks seesaw as rising coronavirus cases offset recovery hopes

Stocks seesaw as rising coronavirus cases offset recovery hopes
NEW YORK (Reuters) – Equity markets around the world seesawed on Wednesday as the prior day’s rally on economic and vaccine hopes faded, while fresh coronavirus outbreaks and rising geopolitical tensions in Asia boosted demand for the dollar and safe-haven debt. Optimism over a quick economic recovery has been tempered by more global cases of the coronavirus, with an outbreak... Read More