WILMINGTON, Del. — President-elect Joe Biden is set to outline his plans to revive the nation's economy in the midst of a global health crisis on Monday as he pushes forward with his transition to the White House despite President Donald Trump's refusal to accept the election results. Biden, who...
709,000 Seek US Jobless Aid as Pandemic Escalates
WASHINGTON — The number of people seeking U.S. unemployment benefits fell last week to 709,000, a still-high level but the lowest figure since March and a further sign that the job market might be slowly healing. Yet the improvement will be put at risk by the sharp resurgence in confirmed...
Unemployment Drops to 6.9% and Us Adds a Solid 638,000 Jobs
WASHINGTON — The U.S. job market showed a burst of strength in October, with employers adding 638,000 jobs and the unemployment rate tumbling to 6.9%. Still, the pace of hiring isn’t enough to rapidly soak up the millions of Americans who were thrown out of work by the pandemic recession....
Wall Street Rallies Again as Stocks Ride Post-Election Wave
NEW YORK — Stocks are still riding Wall Street’s post-election wave Thursday, as markets bet on the continuation of several business-friendly policies, and the S&P 500 is rallying 2.2% toward its biggest weekly jump since April. Markets are banking on Tuesday's election leading to split control of Congress, which could mean low...
Tech Leads Rally as Wall Street Shrugs Off Election Limbo
Technology and health care companies led a stock market rally Wednesday, as Wall Street embraced the upside of more gridlock in Washington even as the outcome of the U.S. presidential election remained in limbo. The S&P 500 rose 2.2% for its best day in five months. The benchmark index had...
Stocks Rally Again Worldwide as Election Day Finally Arrives
NEW YORK — Stocks are rallying Tuesday as Election Day finally arrives after a punishing campaign that created enough uncertainty to help send markets spinning. The S&P 500 was 2.3% higher in morning trading and heading for a second straight gain. The Dow Jones Industrial Average was up 671 points,...
US Economy Grew at 33% Rate in Q3 but Recovery Slowing
WASHINGTON — The U.S. economy grew at a record 33.1% annual rate in the July-September quarter but has yet to fully rebound from its plunge in the first half of the year — and the recovery is slowing as coronavirus cases surge and government aid dries up. The Commerce Department’s...
S&P 500 Sinks 3.5% as Surging Virus Cases Lead to Shutdowns
The Dow Jones Industrial Average sank 943 points Wednesday as surging coronavirus cases forced more shutdown measures in Europe and raised fears of more restrictions in the U.S. The S&P 500 slid 3.5%, its third straight loss and its biggest drop since June. The benchmark index is already down 5.6%...
Stocks End Another Wobbly Day Lower as Virus Cases Rise
Wall Street's losses mounted for the second straight day Tuesday as momentum slows on worries about rising virus counts and Washington's inability to deliver more aid to the economy. The S&P 500 fell 0.3% after spending much of the day swinging between small gains and losses. Most of the stocks in the...
US Retail Sales Grow for 5th Month in a Row
NEW YORK — Retail sales rose strongly in September, the fifth straight month of growth, as Americans spent more on clothing, cars and sporting goods. U.S. retail sales jumped 1.9% last month, the U.S. Commerce Department said Friday. That's more than double what was economists were expected. And it's up...