By Ben Winck November 09, 2020 Goldman Sachs updated its US gross domestic product outlook on Saturday, factoring in rising COVID-19 cases, a Biden presidency, and coronavirus vaccine updates. US GDP will grow 3.5% in the first quarter of 2021, the team led by Jan Hatzius said, citing fallout from record-high case counts. That’s half […]

By Ben Winck November 09, 2020 President-elect Joe Biden’s victory and a divided Congress form a “market nirvana” scenario for investors, JPMorgan strategists said Monday.  The team lifted their S&P 500 target for early 2021 to 4,000 in a note to clients, implying a roughly 11% rally from current levels. While Biden will push for […]

Before Americans knew the outcome of the 2020 US presidential election, investors had called a winner: high-flying technology stocks that have already soared this year. Shares of big tech companies such as Facebook, Microsoft, Apple and Amazon surged in the hours after the polls closed on November 3. By the end of the week, the […]

Pfizer and BioNTech announced Monday their coronavirus vaccine was more than 90% effective in preventing Covid-19 among those without evidence of prior infection, hailing the development as “a great day for science and humanity.” “I think we can see light at the end of the tunnel,” Pfizer Chairman and CEO Dr. Albert Bourla told CNBC’s Meg Tirell on […]

China exports grew at the fastest pace in 19 months in October, while imports also rose, official data showed on Saturday, as the world’s second largest economy continued to recover after being hit hard by the coronavirus crisis earlier this year.

Employment growth was better than expected in October and the unemployment rate fell sharply even as the U.S. faces the challenge of surging coronavirus cases and the impact they could have on the nascent economic recovery. The Labor Department reported Friday that nonfarm payrolls increased by 638,000 and the unemployment rate was at 6.9%. Economists surveyed by […]

Cellular, or “T-cell,” immunity against Covid-19 is likely to be present within most adults six months after primary infection, a new study said. Research by the U.K. Coronavirus Immunology Consortium (UK-CIC), Public Health England and Manchester University NHS Foundation Trust has found “robust T-cell responses” to the coronavirus six months after infection.

Americans have shown they are eager to shop, even during a recession and global health crisis, the National Retail Federation’s chief economist, Jack Kleinhenz, said Monday. That could be a promising sign for retailers banking on holiday sales, he said. “Strong growth in retail sales during the last few months points to the resiliency of […]

U.S. manufacturing activity accelerated in October, with new orders jumping to their highest level in nearly 17 years amid a shift in spending toward goods like motor vehicles as the COVID-19 pandemic drags on. The Institute for Supply Management (ISM) said on Monday its index of national factory activity increased to a reading of 59.3 […]

As technological breakthroughs rapidly shift the frontier between the work tasks performed by humans and those performed by machines and algorithms, global labour markets are likely to undergo major transformations. These transformations, if managed wisely, could lead to a new age of good work, good jobs and improved quality of life for all, but if […]