U.S. stocks lost ground on Thursday as grim economic data and mixed earnings prompted investors to take profits at the close of the S&P 500's best month in 33 years, a remarkable run driven by expectations the economy will soon start recovering from crushing restrictions enacted to curb the coronavirus pandemic.
United Airlines Holdings Inc on Thursday posted a first-quarter loss of $1.7 billion, including charges against investments in Latin America that have soured as the coronavirus pandemic jolts travel industries worldwide.
World equity benchmarks dipped on Thursday to close their best month in 11 years as a rebound in oil prices, encouraging early results from a COVID-19 treatment trial and expectations of more government stimulus helped ease the pain of February and March.
"History tells us that the odds of another deep decline are very, very high," one strategist said.
Amgen Inc on Thursday reported better-than-expected first-quarter results on Thursday and said it plans to study psoriasis drug Otezla as a potential treatment for COVID-19, the respiratory disease caused by the new coronavirus.
SpaceX CEO Elon Musk unexpectedly spoke up during a NASA conference call on Thursday
Apple Inc reported sales and profits that beat Wall Street expectations Thursday, with Chief Executive Officer Tim Cook saying China sales were "headed in the right direction" as that country reopens from the novel coronavirus.
Gilead Sciences Inc, maker of the experimental coronavirus drug remdesivir, on Thursday said it will work with international partners to expand production of the potential COVID-19 treatment.
Boeing Co expects to raise around $25 billion in its bond offering on Thursday, according to people familiar with the matter, a blowout result for the planemaker shoring up its finances during the coronavirus-induced travel downturn.
Amazon.com Inc on Thursday said it could post its first quarterly loss in five years because it is spending at least $4 billion in response to the coronavirus pandemic, including plans to test its workers for COVID-19 and providing them with protective gear, and paying higher wages.
The two largest U.S. banks, JPMorgan Chase & Co and Bank of America , said on Thursday that they submitted almost half a million applications worth nearly $46 billion to the Small Business Administration's Paycheck Protection Program for small businesses hurt by the coronavirus shutdown.
Amazon.com Inc on Thursday said it could post its first quarterly loss in five years because it is spending at least $4 billion in response to the coronavirus pandemic, including plans to test its workers for COVID-19, providing staff with protective gear and raising hourly wages.
"I mean, Congress went out of its way to carve out businesses that have more than 500 employees but are restaurants, chain restaurants," ex-TARP watchdog Neil Barofsky told CNBC.
Three of the largest four U.S. airlines said Thursday they will require passengers to wear facial coverings on U.S. flights, joining JetBlue Airways Corp in taking the step to address the spread of the coronavirus and convince reluctant passengers to resume flying.
Boeing Co raised $25 billion in a bond offering on Thursday, a blowout result for the planemaker, which is shoring up its finances during the coronavirus-induced travel downturn.