Employment stunningly rose by 2.5 million in May and the jobless rate declined to 13.3%, according to data Friday from the Labor Department that was far better than economists had been expecting and indicated that an economic turnaround could be close at hand.

In late March, global financial markets were collapsing amid the chaos of the novel coronavirus pandemic. International investors immediately sought refuge in the U.S. dollar, just as they had done during the 2008 financial crisis, and the U.S. Federal Reserve had to make huge sums of dollars available to its global counterparts. Seventy-five years after […]

U.S. private payrolls fell less than expected in May, suggesting layoffs were abating as businesses reopen, though the overall economy’s recovery from the COVID-19 pandemic will be slow.

Goldman Sachs Group Inc. has effectively bowed to pressure from the continuing rally in U.S. stocks and abandoned its call for another steep sell-off.  Strategists led by David Kostin have rolled back their prediction that the S&P 500 would slump to the 2,400 level — over 20% below Friday’s 3,044 close — and now see […]

The United States plans a massive testing effort involving more than 100,000 volunteers and a half dozen or so of the most promising vaccine candidates in an effort to deliver a safe and effective one by the end of 2020, scientists leading the program told Reuters.

The United States has secured almost a third of the first 1 billion doses planned for AstraZeneca’s experimental COVID-19 vaccine by pledging up to $1.2 billion, as world powers scramble for medicines to get their economies back to work.

By Ian King Quarterly data center sales topped $1 billion for first time Game-related revenue fell sequentially as pandemic hurt supply (Bloomberg) — Nvidia Corp. gave a quarterly revenue forecast in line with analysts’ estimates, helped by a surge in spending on internet infrastructure and purchases of computer gaming gear. Revenue will be about $3.65 billion in […]

By Emily Barrett Breakeven rates show subdued expectations even after stimulus Outlook makes 10-year inflation-linked offering a hard sell (Bloomberg) — Bond investors are skeptical that inflation will rebound as the U.S. economy eventually starts to recover. While some lawmakers fretted this week that a combination of central bank and government rescue packages could inflame long-dormant […]

There’s a good chance that stocks build on their face-ripping rally off the lows given all the cash sitting on the sidelines, according to Bank of America. Savita Subramanian, the bank’s head of U.S. equity and quantitative strategy, said equity allocation among BofA clients has dropped by 3 percentage points to 57.1% while cash allocations […]