Financial markets

A man walks by a closed store during the COVID-19 in Chicago, Thursday, April 30, 2020. Another 3.8 million people filed claims for jobless benefits last week, according to the Labor Department. While that's down from the previous week's 4.4 million, a staggering 30.3 million have applied for unemployment in the six weeks since the coronavirus began taking a wrecking ball to the U.S. job market. (AP Photo/Nam Y. Huh)
May 06, 2020 - 5:26 pm
WASHINGTON (AP) — The economic catastrophe caused by the viral outbreak likely sent the U.S. unemployment rate in April to its highest level since the Great Depression and caused a record-shattering loss of jobs. With the economy paralyzed by business closures, the unemployment rate likely jumped...
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A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, May 6, 2020. Asian stock markets were mixed Wednesday as hopes for a global economic recovery rose after more governments eased anti-virus controls. (AP Photo/Ahn Young-joon)
May 06, 2020 - 4:08 pm
A late-day slide left stocks mostly lower after a wobbly day of trading, but major technology companies managed to hold on to their gains. The weak showing Wednesday gave the benchmark S&P 500 its first loss this week and came as depressing data on the economy continues to roll in. The S&P...
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In this April 3, 2020, photo, a man wearing a face mask due to COVID-19 concerns stands outside a check cashing service center in the Brooklyn borough of New York. While millions of U.S. workers have already received a quick relief payment from the federal treasury through direct deposit, millions of others without traditional bank accounts must wait weeks for paper checks. Advocates for the poor say this is an opportunity to get many of those who are unbanked into the formal financial system. (AP Photo/Bebeto Matthews)
May 06, 2020 - 10:53 am
WASHINGTON (AP) — The Treasury Department is detailing how it plans to borrow a record-breaking $2.99 trillion in debt this quarter which will include issuing for the first time since 1986 a 20-year bond. The Treasury faces an unprecedented need for credit because of the trillions of dollars the...
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Brian Miller who is nominated to be Department of the Treasury Special Inspector General for Pandemic, testifies before a hearing of Senate Banking, Housing, and Urban Affairs Committee on Capitol Hill in Washington, Tuesday, May 5, 2020. (Alex Wong/Pool via AP)
May 05, 2020 - 6:20 pm
WASHINGTON (AP) — President Donald Trump’s choice to oversee a significant chunk of the $2 trillion economic rescue law pledged Tuesday to conduct audits and investigations "with fairness and impartiality.'' Brian Miller, a lawyer in the White House counsel’s office, told the Senate Banking...
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People wearing face masks walk past a bank electronic board showing the Hong Kong share index Tuesday, May 5, 2020. Shares advanced in Asia early Tuesday after Wall Street shook off a weak start and ended with modest gains thanks to another solid showing from big technology companies. (AP Photo/Vincent Yu)
May 05, 2020 - 5:46 pm
Stocks closed broadly higher on Wall Street Tuesday as more countries relaxed restrictions on businesses, raising hopes for a recovery from the historic plunge that is sweeping the global economy. The S&P 500 rose 0.9%, although it lost about half of its early gains in a late-afternoon burst of...
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McCormick Cafe manager Charli Perry, left, looks over an order with server Jane Goodridge as the restaurant reopened Monday, May 4, 2020 in Billings, Mont. The state is slowly opening up its economy as some other states extend shutdowns prompted by the coronavirus. (AP Photo/Matthew Brown)
May 05, 2020 - 11:16 am
WASHINGTON (AP) — The U.S. service sector shrank for the first time in a decade last month as the pandemic forced shutdowns and layoffs nationwide. The Institute for Supply Management said Tuesday that its service-sector index fell to 41.8 in April, compared with a March reading of 52.5. Any...
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People wearing face masks walk past a bank electronic board showing the Hong Kong share index Tuesday, May 5, 2020. Shares advanced in Asia early Tuesday after Wall Street shook off a weak start and ended with modest gains thanks to another solid showing from big technology companies. (AP Photo/Vincent Yu)
May 05, 2020 - 12:13 am
BANGKOK (AP) — Shares advanced in Asia early Tuesday after Wall Street shook off a weak start and ended with modest gains thanks to another solid showing from big technology companies. Shares rose in Hong Kong, Sydney and Singapore. Markets in Shanghai and Tokyo were closed for a holiday. Wall...
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Business was light at the Delta ticket counters at Minneapolis - St. Paul International Airport due to the coronavirus effect on travel Monday, May 4, 2020, in Minneapolis. Monday was the first day Delta was requiring passengers to wear face masks while flying. (AP Photo/Jim Mone)
May 04, 2020 - 6:45 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Monday related to the global economy, the work place and the spread of the virus. ________________________ AIRLINES BUFFETTED: Air travel has come to almost a complete...
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FILE - In a Friday, May 1, 2020 file photo, NYPD officers walk along a sparsely populated Wall Street, in the Manhattan borough of New York. The devastation rocking the economy becomes more clear by the week with reports continually showing how many million workers have lost their jobs due to the coronavirus outbreak. Wall Street sees that pain, but it already sent the U.S. stock market down by a third more than a month ago on anticipation of that. Now, it’s looking further ahead and sees a future that’s not as bad as this horrific present. That’s why stocks just had their best month in a generation. Whether they’re correct is still to be determined. (AP Photo/John Minchillo, File)
May 04, 2020 - 12:28 pm
NEW YORK (AP) — Is Wall Street blind? The global economy is in shambles, the coronavirus pandemic has killed more than 248,000 worldwide and 30 million Americans have lost their jobs as collateral damage in the fight against COVID-19, with the tallies all rising by the day. Yet, the U.S stock...
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A man wearing a mask depicting American flags jogs past the U.S. Capitol Building, Tuesday, April 28, 2020, in Washington. The U.S. House of Representatives has canceled plans to return next week, a reversal after announcing it a day earlier. (AP Photo/Andrew Harnik)
May 04, 2020 - 11:57 am
WASHINGTON (AP) — The Senate will gavel in Monday as the coronavirus rages while the top House Republican is proposing a “hybrid” reopening for the still-shuttered House as a divided Congress struggles to fully resume during the pandemic. Rep. Kevin McCarthy, the minority leader, suggests the full...
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