Wall Street rises on record job growth; surging virus cases cap gains

(Reuters) – Wall Street rose on Thursday after a record-setting increase in monthly U.S. jobs, but surging COVID-19 cases raised fears of more lockdowns and kept gains in check. The Nasdaq opened at an all-time high after data showed the U.S. economy created 4.8 million jobs in June, the most since the government began keeping records in 1939, but later […]

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Fed received thousands of letters asking it to widen Main Street program

July 1 (Reuters) – The U.S. Federal Reserve received thousands of letters and emails from individuals, businesses and nonprofit organizations this spring asking it to widen access to its Main Street Lending Program so more entities could tap it for funds to survive the recession triggered by the coronavirus pandemic. Documents released by the Fed on Wednesday contained hundreds of […]

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S&P 500, Dow track best quarter since 1998 on stimulus-led rebound hopes

(Reuters) – The S&P 500 and Dow Jones indexes gained on Tuesday, inching closer to ending their best quarter since 1998 as improving economic data restored faith in a stimulus-backed rebound for the U.S. economy. Kicking off a data-heavy week for Wall Street, figures on Tuesday showed U.S. consumer confidence increased much more than expected in June. Data on manufacturing […]

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White House opposes $1.5 trillion House infrastructure measure

WASHINGTON (Reuters) – The White House said Monday it opposes a $1.5 trillion proposal from congressional Democrats to boost U.S. infrastructure over the next decade, criticizing how it would pay for new spending. The Democratic-controlled House of Representatives is set to begin on Tuesday debating the measure, which includes a massive boost in spending on roads, bridges, public transit, rail, […]

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Iran issues warrant for Trump over killing of top general

(Reuters) – Iran has issued an arrest warrant for U.S. President Donald Trump and 35 others over the killing of top general Qassem Soleimani and has asked Interpol for help, Tehran prosecutor Ali Alqasimehr said on Monday, according to the Fars news agency. The United States and Interpol both dismissed the idea of acting on such a warrant. The United […]

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Trump's spending for border wall rejected by U.S. appeals court

(Reuters) – A federal appeals court on Friday said U.S. President Donald Trump was wrong to divert $2.5 billion meant for the Pentagon to build part of his long-sought wall along the U.S.-Mexico border. In a pair of 2-1 decisions, the 9th U.S. Circuit Court of Appeals said the White House lacked constitutional authority for the transfer, noting that Congress […]

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U.S. curbs visas for Chinese officials over Hong Kong freedoms: Pompeo

WASHINGTON (Reuters) – U.S. Secretary of State Mike Pompeo said on Friday Washington was imposing visa restrictions on Chinese officials responsible for restricting freedoms in Hong Kong, but he did not name any of those targeted. The move comes ahead of a three-day meeting of China’s parliament from Sunday expected to enact new national security legislation for Hong Kong that […]

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Wall Street tumbles on concerns over U.S.-China trade deal, rising virus cases

(Reuters) – Wall Street’s major indexes tumbled on Friday after a report that the U.S. intervention in Chinese interests could risk Phase 1 trade deal spooked investors already worried about a surge in coronavirus cases. The three main indexes extended losses after the Wall Street Journal said U.S. ‘meddling’ in Hong Kong, Taiwan, other matters could jeopardize Chinese goods purchases […]

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Trump cancels planned weekend visit to New Jersey without explanation

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday canceled a planned weekend visit to his golf resort in Bedminster, New Jersey, the White House said in an updated schedule. The White House did not provide a reason for the cancellation, which comes amid a spike in novel coronavirus cases in many states. White House spokesman Judd Deere said the […]

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Financial shares push Wall Street higher in volatile trading

New York (Reuters) – Wall Street’s main indexes edged higher in choppy trading on Thursday, as financial stocks gained ground on regulatory changes even though investors worried about alarming increases in new coronavirus cases and jobless claims. The S&P 500 banks sub-index rose 1.8% as U.S. banking regulators eased two rules covering large banks with complex trading and investment portfolios. […]

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