Wall Street rose on Tuesday on tentative early signs that coronavirus outbreaks in some of the biggest U.S. hot spots may be plateauing, with New York's governor saying social distancing measures to curb the spread of the virus were working.
U.S. banks should feel welcome to pursue "prudent efforts" to help borrowers impacted by the coronavirus pandemic, according to a new joint statement issued by banking regulators Tuesday.
A WeWork board committee that negotiated a $3 billion tender offer with SoftBank Group sued the Japanese conglomerate on Tuesday for abandoning the deal, accusing it of succumbing to "buyer's remorse" amid the novel coronavirus outbreak.
Oil slumped on Tuesday in the face of swelling crude supplies and weak fuel demand due to the coronavirus pandemic, while investors also grew cautious over expectations that the world's biggest producers would quickly agree on output cuts.
The head of the examination office at the U.S. Securities and Exchange Commission (SEC) on Tuesday published details about the expected scope and content for compliance with a new rule requiring broker-dealers and investment advisers to disclose potential conflicts of interest.
Many small businesses were struggling with funding shortfalls and financial challenges even before the coronavirus pandemic hit, leaving them with little cash on hand to weather the slowdown caused by the virus, according to data released by the Federal Reserve on Tuesday.
Treasury Secretary Steven Mnuchin said on Tuesday he wants Congress to approve an additional $250 billion for a small business relief program by Friday.
KKR & Co Inc has established a $50 million global relief fund to help people affected by the new coronavirus, according to a letter the U.S. private equity firm sent to its investors on Tuesday.
The Trump administration on Tuesday asked Congress for an additional $250 billion in emergency economic aid for small U.S. businesses reeling from the coronavirus pandemic, as Senate Majority Leader Mitch McConnell pushed for passage as soon as Thursday.
The White House was due to speak with banks on Tuesday, as the administration's $350 billion program to support ailing businesses continued to confront hurdles, with some of the nation's largest lenders sitting on the sidelines and others unable to access the system.
Clinical data on potential treatments for the new coronavirus could help sustain a market bounce that has buoyed stocks after last month's plunge, as investors look for signs that authorities may be able to stabilize the pandemic.
Off-price retailer TJX Companies Inc said on Tuesday it would furlough most of the employees at its stores and distribution centers, as outlets remain closed to curb the spread of the coronavirus.
Oil edged lower on Tuesday on uncertainty over whether the world's biggest producers would agree to cut output in the face of a swelling crude oil glut as fuel demand has been hammered during the coronavirus pandemic.
Exxon Mobil Corp said on Tuesday that production at the Payara project, its third development in Guyana, could be delayed due to delays in government approvals as the company scales back spending elsewhere due to the crude price crash.
U.S. Treasury Secretary Steven Mnuchin said on Tuesday that he would seek an additional $250 billion to support small businesses hurt by the widespread economic slowdown.