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

U.S. labor market recovery stalling; second wave of layoffs underway

U.S. labor market recovery stalling; second wave of layoffs underway
WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits fell last week, but the pace of decline appears to have stalled amid a second wave of layoffs as companies battle weak demand and fractured supply chains, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession. The Labor Department’s weekly jobless claims report... Read More

S&P 500, Dow dip on rising virus cases, elevated jobless claims

S&P 500, Dow dip on rising virus cases, elevated jobless claims
(Reuters) – The S&P 500 and Dow retreated on Thursday as an uptick in coronavirus infections in parts of the United States threatened to upend bets of a swift economic recovery, with data showing weekly jobless claims remained elevated. Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New York City, New York, U.S.,... Read More

U.S. weekly jobless claims remain high as second wave of layoffs hits industries

U.S. weekly jobless claims remain high as second wave of layoffs hits industries
Hundreds of people line up outside the Kentucky Career Center, over two hours prior to its opening, to find assistance with their unemployment claims, in Frankfort, Kentucky, U.S. June 18, 2020. REUTERS/Bryan Woolston WASHINGTON (Reuters) – A second wave of layoffs amid weak demand and fractured supply chains is keeping new U.S. applications for unemployment benefits elevated, supporting views that... Read More

U.S. weekly jobless claims remain high, second wave of layoffs blamed

U.S. weekly jobless claims remain high, second wave of layoffs blamed
WASHINGTON (Reuters) – A second wave of layoffs amid weak demand and fractured supply chains is likely keeping new U.S. applications for unemployment benefits elevated, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession. People line up outside a temporary unemployment office established by the Kentucky Labor Cabinet at the State Capitol Annex in... Read More

S&P 500, Dow struggle for direction after three-day rally

S&P 500, Dow struggle for direction after three-day rally
(Reuters) – The S&P 500 and the Dow edged lower in choppy trading on Wednesday as a record rise in coronavirus cases in six U.S. states dented sentiment following a three-day rally on hopes of a swift recovery from a coronavirus-driven downturn. FILE PHOTO: Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New... Read More

Exclusive: Who’s in charge at Nissan? COO’s allies push to give him shared CEO role – sources

Exclusive: Who’s in charge at Nissan? COO’s allies push to give him shared CEO role – sources
(Reuters) – Nissan’s chief operating officer Ashwani Gupta helped engineer the troubled automaker’s latest turnaround plan. Now his allies are pressing the board to promote him to co-CEO to drive the new strategy, said four people with direct knowledge. FILE PHOTO: Nissan Motor COO Ashwani Gupta speaks during a news conference at Nissan Motor headquarters in Yokohama, Japan, December 2,... Read More

New U.S. Huawei rule targets standards, security concerns remain: Ross

New U.S. Huawei rule targets standards, security concerns remain: Ross
FILE PHOTO: U.S. Secretary of Commerce, Wilbur Ross, speaks during an interview in New York, U.S., December 3, 2019. REUTERS/Brendan McDermid WASHINGTON (Reuters) – A new U.S. rule regarding China’s Huawei Technologies Co Ltd is a needed “clarification” to help develop standards, U.S. Commerce Secretary Wilbur Ross said on Wednesday, adding that security concerns remain over the telecoms equipment maker.... Read More