A record rebound in U.S. retail sales, fresh support from the Federal Reserve and Bank of Japan, and upbeat trial results for a COVID-19 treatment boosted risk appetite on Tuesday, driving equity markets higher and strengthening the dollar.
A U.S. appeals court ruled on Tuesday that the Securities and Exchange Commission cannot force stock exchanges to conduct a costly experiment to see how the fees they charge and the incentives they offer affect brokers' trading habits.
Americans returning to work on a part-time basis may be able to continue receiving unemployment benefits, including the federal $600 weekly enhancement.
The Trump administration is preparing an up to $1 trillion infrastructure package focused on transportation projects as part of its push to spur the world's largest economy back to life, a source familiar with the situation said on Tuesday.
Former Securities and Exchange Commission Chairman Harvey Pitt said investment banks could face legal challenges related to Hertz's secondary stock sale while in bankruptcy.
U.S. stocks advanced on Tuesday after a record surge in May retail sales revived hopes of a swift post-pandemic economic rebound, with sentiment also lifted by data showing reduced COVID-19 death rates in a trial of a generic steroid drug.
The U.S. Department of Commerce on Tuesday posted a new rule that allows U.S. companies to work with China's Huawei to develop standards for 5G and other cutting-edge technologies, despite restrictions on doing business with the telecommunications equipment maker.
The best way the Federal Reserve can help reduce racial inequality is to return the U.S. labor market to its pre-coronavirus strength, U.S. Fed Chair Jerome Powell said on Tuesday, as he sidestepped questions over whether the Fed itself contributes to the problem.
A full U.S. economic recovery will not occur until the American people are sure that the novel coronavirus epidemic has been brought under control, Federal Reserve Chair Jerome Powell said on Tuesday, as he began the first of two days of hearings before U.S. lawmakers.
The New York Federal Reserve's planned launch on Tuesday of a bond-buying facility could help ease the potential stigma for companies of asking for help and create an important framework for what the central bank steps in to purchase, analysts and investors said.
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Global stocks were back firing on all cylinders on Tuesday as a record rebound in U.S. retail sales and fresh support from the Federal Reserve and Bank of Japan reignited risk appetite after a bumpy few days.
National Retail Federation CEO Matthew Shay said the rebound is uneven with big-box retailers like Walmart and Home Depot reporting strong sales and small or mid-sized businesses struggling.
A patchwork of national restrictions and a reluctance among travellers to cross borders mean European airlines face a bumpier return to the skies from coronavirus lockdowns than U.S. and Asian rivals.