Stocks surge on Wall Street amid vaccine news, US election outcome
The Dow Jones Industrial Average surged 1,500 points, or 5.4%, in early trading Monday and the S&P 500 jumped 3.7% after drugmaker Pfizer said early data show its coronavirus vaccine looks highly effective.
The Dow Jones Industrial Average surged 1,500 points, or 5.4%, in early trading Monday and the S&P 500 jumped 3.7% after drugmaker Pfizer said early data show its coronavirus vaccine looks highly effective.
Despite positive indicators, post-election economy likely to need intervention to grow
Interests rates are down to zero and unemployment has jumped down an entire point, but a Houston financial advisor says Wall Street is hardly on the same page.
Interests rates are down to zero and unemployment has jumped down an entire point, but a Houston financial advisor says Wall Street is hardly on the same page.
751,000 seek unemployment benefits as pandemic hobbles US economy
The number of Americans seeking unemployment benefits fell slightly last week to 751,000, a still-historically high level that shows that many employers keep cutting jobs in the face of the accelerating pandemic.
The number of Americans seeking unemployment benefits fell slightly last week to 751,000, a still-historically high level that shows that many employers keep cutting jobs in the face of the accelerating pandemic.
McConnell promises COVID-19 stimulus as he maintains seat
Senate Majority Leader Mitch McConnell, R-Ky., promised that approval of a new coronavirus relief package by the end of the year can be reached as lawmakers are set to return to work following Tuesday’s elections.
Senate Majority Leader Mitch McConnell, R-Ky., promised that approval of a new coronavirus relief package by the end of the year can be reached as lawmakers are set to return to work following Tuesday’s elections.
Stocks shake off 2020 election night wobbles to rally
Much of Wednesday's strength for Wall Street was due to big gains for technology stocks. Investors have increasingly seen these stocks as some of the safer bets in the market, able to grow their profits even in a pandemic as more of daily life shifts online.
Much of Wednesday's strength for Wall Street was due to big gains for technology stocks. Investors have increasingly seen these stocks as some of the safer bets in the market, able to grow their profits even in a pandemic as more of daily life shifts online.
Billions in COVID-19 business loans possibly given to scammers, report says
The Office of Small Business Administration (SBA) Inspector General Michael Ware found that it may have distributed billions of dollars to fraudulent businesses claiming financial distress due to the COVID-19 pandemic, according to a report.
The Office of Small Business Administration (SBA) Inspector General Michael Ware found that it may have distributed billions of dollars to fraudulent businesses claiming financial distress due to the COVID-19 pandemic, according to a report.
ExxonMobil to cut 1,900 US jobs, largely from Houston management offices
ExxonMobil said the reductions will be both voluntary and involuntary and will largely come from its management offices in Houston.
ExxonMobil said the reductions will be both voluntary and involuntary and will largely come from its management offices in Houston.
American unemployment claims fall to 751,000; coronavirus resurges
The number of Americans seeking unemployment benefits fell last week to 751,000, the lowest since March but a figure that remains historically high and indicates the viral pandemic is still forcing many employers to cut jobs.
The number of Americans seeking unemployment benefits fell last week to 751,000, the lowest since March but a figure that remains historically high and indicates the viral pandemic is still forcing many employers to cut jobs.
US economy grew at 33% rate in 3rd quarter but recovery is incomplete
The U.S. economy grew at a 33.1% annual rate in the July-September quarter — by far the largest quarterly gain on record — rebounding from an epic plunge in the spring.
The U.S. economy grew at a 33.1% annual rate in the July-September quarter — by far the largest quarterly gain on record — rebounding from an epic plunge in the spring.
Options to avoid foreclosure for homeowners exiting forbearance or that can't pay mortgage
Many homeowners are struggling to make mortgage payments in this economic crisis but haven't taken advantage of forbearance programs and could face foreclosure.
Many homeowners are struggling to make mortgage payments in this economic crisis but haven't taken advantage of forbearance programs and could face foreclosure.
Pelosi 'remains optimistic' about COVID-19 relief package before Election Day
Despite failing on Monday to come to an agreement on a coronavirus stimulus package, House Speaker Nancy Pelosi "remains optimistic" that a deal with the White House can be reached before Election Day.
Despite failing on Monday to come to an agreement on a coronavirus stimulus package, House Speaker Nancy Pelosi "remains optimistic" that a deal with the White House can be reached before Election Day.
Stocks plunge as COVID-19 cases surge in US
The stock market had its worst day in a month as virus cases surge and help for the economy from Washington remains nowhere in sight.
The stock market had its worst day in a month as virus cases surge and help for the economy from Washington remains nowhere in sight.
Italy closes gyms, shuts eateries early amid rising COVID-19 cases
Italy’s leader has imposed at least a month of new restrictions to fight rising coronavirus infections, shutting down gyms, pools and movie theaters and putting an early curfew on cafes and restaurants.
Italy’s leader has imposed at least a month of new restrictions to fight rising coronavirus infections, shutting down gyms, pools and movie theaters and putting an early curfew on cafes and restaurants.
Unemployment claims fall to 787,000; layoffs still high
The number of Americans seeking unemployment benefits fell last week to 787,000, a sign that job losses may have eased slightly but are still running at historically high levels.
The number of Americans seeking unemployment benefits fell last week to 787,000, a sign that job losses may have eased slightly but are still running at historically high levels.
Quibi is shutting down, citing low subscriptions amid COVID-19 pandemic
A short six months after promising to revolutionize video viewing, short-form streaming service Quibi raised a white flag Wednesday and announced it was shutting down.
A short six months after promising to revolutionize video viewing, short-form streaming service Quibi raised a white flag Wednesday and announced it was shutting down.
Coronavirus relief talks crawl ahead; McConnell is resistant
President Donald Trump’s most powerful Senate ally is pressing the White House not to move ahead on a coronavirus pandemic relief package.
President Donald Trump’s most powerful Senate ally is pressing the White House not to move ahead on a coronavirus pandemic relief package.
12-year old Katy girl creates game to aid in financial literacy
Ava McGill created a game to help kids around the world learn how to save money.
Ava McGill created a game to help kids around the world learn how to save money.
McConnell says any Pelosi-Mnuchin COVID-19 stimulus deal would get Senate vote
Senate Majority Leader Mitch McConnell said he'll schedule a vote if House Speaker Nancy Pelosi and the Trump administration are able to seal an agreement on a huge COVID-19 relief bill.
Senate Majority Leader Mitch McConnell said he'll schedule a vote if House Speaker Nancy Pelosi and the Trump administration are able to seal an agreement on a huge COVID-19 relief bill.
China's economy accelerates as coronavirus recovery gains strength
China’s shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships while the United States and Europe endure painful contractions.
China’s shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships while the United States and Europe endure painful contractions.
Even with COVID-19 coverage safety net, recovered patients hit with hefty hospital bills
COVID-19 can do more than torment patients physically. It also clobbers some financially.
COVID-19 can do more than torment patients physically. It also clobbers some financially.