U.S. stocks jumped Monday, with the technology-heavy Nasdaq Composite poised to notch another record as investors' infatuation with tech shares continued. Big tech stocks, including Apple, Microsoft and Amazon.com, have powered the market from its late March low in the midst of the coronavirus-fueled selloff. All three stocks have jumped at least 33% this year, helping to put the Nasdaq on course Monday for its 28th record close of the year.
U.S. stocks jumped Monday, with the technology-heavy Nasdaq Composite poised to notch another record as investors' infatuation with tech shares continued. The Dow Jones Industrial Average climbed 535 points, or 2.1%, in afternoon trading. The S&P 500 rose 1.4%, trying to return to positive territory for the year, while the Nasdaq was up 1.3%-- on pace for its 28th record close of the year.
SAO PAULO--Brazil retail sales unexpectedly jumped in May as more consumers adapted to shopping during the coronavirus pandemic and businesses in some parts of the country reopened following almost two months of social distancing measures. Sales increased a seasonally adjusted 13.9% in the month, the biggest increase in 20 years, and fell 7.2% from a year earlier, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday. In April sales dropped a revised...
SAO PAULO--Brazil retail sales jumped in May as more consumers adapted to shopping during the coronavirus pandemic and businesses in some parts of the country reopened following almost two months of social distancing measures. Sales increased a seasonally adjusted 13.9% in the month, the biggest increase in 20 years, and fell 7.2% from a year earlier, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday. In April sales dropped a revised 16.3% in the month.
By Yuka Hayashi, Anthony DeBarros and Ryan Tracy. WASHINGTON-- The government's $670 billion Paycheck Protection Program reached a wide swath of small businesses across almost every sector of the economy, benefiting hard-hit industries such as hotels and restaurants, as well as professional firms and construction companies that were better able to weather the crisis, new data shows. More than 90 industry sectors each had more than 10,000 firms approved for PPP loans, according...
U.S. services industries showed signs of recovery in June as businesses took early steps to reopen following the easing of some of the coronavirus-related lockdowns, according to two surveys of purchasing managers released Monday. But analysts warned those gains could be undone in July as a resurgence of cases in some states leads to another shutdown of businesses. Businesses in both surveys reported last month that demand had started to stabilize and that exports were...
The non-manufacturing sector in the U.S. returned to growth in June as the country continued to reopen, data from a survey compiled by the Institute of Supply Management showed Monday. The ISM Non-Manufacturing Report on Business PMI for June climbed to 57.1%, up 11.7 points from the May reading of 45.4%, surpassing the 50% no-change mark for the first time since the pandemic hit the U.S. This is the largest single- month increase in the index since its debut in 1997..
An index measuring employment trends in the U.S. rose slightly in June for second consecutive month as the labor market continued to recover from the coronavirus shock to the economy, data from the Conference Board showed Monday. The Conference Board Employment Trends Index stood at 49.05 in June, compared with a downwardly revised figure of 45.27 in May. The labor market is still far from making up all lost ground, as the index is down 54.8% from a year ago, the report said.
Activity in the U.S. services sector improved in June for the second consecutive month, but remained in contraction territory, as the country continued to reopen amid Covid-19 infections on the rise in many states, data from IHS Markit showed Monday. The final reading for the U.S. Services Purchasing Managers' Index for June was 47.9, significantly higher than the 37.5 level registered in May and above the flash figure of 46.7.
A dramatic drop in hotel stays, elective surgeries and dining out since the coronavirus outbreak in February is driving a recession that is unlike every other since the Great Depression. Prior downturns were largely led by lower spending on such things as cars, houses, and factories while this one is hitting the service industries. That change has meant Latino and Hispanic workers are being particularly hard hit, and economists expect the jobs recovery to be slow and halting as...
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
