U.S. stocks sank on Friday after data showed a surprisingly sharp dive in retail sales and as investors worried about increased Sino-U.S. trade hostilities, while signs of a pick-up in crude demand boosted oil prices.
Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise.
The first round of $1,200 government stimulus checks is mostly out the door, while another round of payments could be on tap. These are the outstanding questions that are still lingering in many Americans' minds when it comes to that money.
The S&P 500 zig-zagged on both sides of unchanged on Friday as investors weighed worries about Sino-U.S. trade relations and weaker-than-expected retail sales data against optimism over the reopening of the U.S. economy after coronavirus lockdowns.
U.S. stocks gyrated on Friday before ending slightly higher, as investors worried about increased China-U.S. trade hostilities and disappointing retail sales figures, while signs of a pick-up in crude demand boosted oil prices.
There's no doubt the coronavirus pandemic has hit small businesses hard. Here's what three entprenuers did to survive, and what they think the future holds.
Wall Street's three major indexes closed higher after swinging between gains and losses on Friday as investors weighed worries about Sino-U.S. trade relations and weaker-than-expected U.S. economic data against growing optimism that easing coronavirus restrictions would boost activity this month.
A group of state attorneys general led by Texas are likely to -file an antitrust lawsuit against Alphabet Inc's Google and are working on potential litigation for later this year, a person familiar with the situation said on Friday.
The United States has not given any assurances to Taiwan Semiconductor Manufacturing Co Ltd that it will grant it a license so it can sell U.S. technology to China's Huawei, which Washington has blacklisted, Keith Krach, Undersecretary for Economic Growth, Energy and the Environment at the State Department said on Friday.
A California state panel on Friday rejected a request from Elon Musk's SpaceX for $655,500 in state job and training funds, citing the chief executive's recent threats to move Tesla, the electric carmaker that he also runs, out of the state.
J.C. Penney Co Inc filed for bankruptcy protection on Friday, the latest among traditional brick-and-mortar retailers to crumble as prolonged store closures due to the COVID-19 pandemic deliver the final blow to troubled businesses.
Taiwan Semiconductor Manufacturing Co Ltd, which unveiled a $12 billion investment plan in Arizona on Friday, has not been given any assurances that it will be granted a license to allow it to sell U.S. technology to China's Huawei, a senior U.S. official said.
The U.S. Justice Department has sent grand jury subpoenas to big banks seeking records as part of a broader investigation into potential abuse of a $660 billion emergency loan program to help small businesses hurt by the novel coronavirus, two people with knowledge of the matter told Reuters.
Amazon.com Inc said on Friday it would make the "appropriate" executive available to the U.S. House of Representatives Judiciary Committee to testify about allegations related to how the company uses third-party sellers' data.
The global novel coronavirus crisis continues to batter the U.S. labor market, with millions more Americans, including white collar workers, expected to have filed for unemployment benefits last week as the hit from the pandemic spills over into a broader swath of the economy.