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.
No denying May's $73 billion rebound in U.S. retail sales was an eye-popper and is the latest fodder to fuel the red-hot "V" vs "U" debate about what kind of recovery to expect from the COVID-19 recession.
German airline Lufthansa warned on Wednesday that it might need to apply for protection from creditors if its state-backed bailout deal failed to win sufficient support at a shareholder vote on June 25.
The pandemic has acted like an accelerant to an existing trend: The steady migration of most everyday banking activities to mobile apps and online portals.
Oil fell on Wednesday on fears that COVID-19 cases could rise, but prices drew some support from stimulus measures and hopes for positive tests of a drug that could save some critically ill patients.
Fiat Chrysler and Peugeot maker PSA's proposed merger may harm competition in small vans in 14 EU countries and Britain, EU antitrust regulators said on Wednesday as they opened a four-month investigation into the deal.
The U.S. dollar rose from early lows on Wednesday as investors wary of wider geopolitical risks sought its relative safe haven.
United Airlines sweetened on Tuesday a voluntary exit package for frontline employees like flight attendants and gate agents, saying it needed "a lot more people to sign up" to avoid involuntary layoffs in October, according to a staff email seen by Reuters.
The U.S. Justice Department proposed on Wednesday that Congress take up legislation to curb protections big tech platforms like Alphabet's Google and Facebook have had for decades, a senior official said, following through on President Donald Trump's bid to crack down on tech giants.
Once looking forward to a strong economy, recent college graduates are now scrambling to find jobs.
The S&P 500 and the Dow were largely flat 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.
Italy's Treasury has taken a further step towards approving a state guarantee for a 6.3 billion euro ($7.1 billion) loan for Fiat Chrysler's Italian unit, a government source told Reuters on Wednesday.
The U.S. dollar rose from early lows on Wednesday as investors wary of wider geopolitical risks sought its relative safe haven ahead of midday remarks by Federal Reserve Chair Jerome Powell.
Oil prices fell on Wednesday as investors worried about fuel demand due to fresh outbreaks of COVID-19, though prices drew some support after U.S. stocks of diesel fuel fell for the first time in weeks and U.S. oil production dropped sharply.
U.S. homebuilding increased less than expected in May, but a strong rebound in permits for future home construction suggested the housing market was starting to emerge from the COVID-19 crisis along with the broader economy.