Sanja Jelic’s worst day in almost two decades as a critical care doctor in New York City was April 6. Faced with an unmanageable influx of coronavirus patients at Columbia University Irving Medical Center’s step-down unit, an intermediate care ward, Jelic made an unorthodox decision: she asked those struggling to breathe to roll onto their […]

U.S. stocks rose sharply on Monday as a rebound in U.S. services industry activity in June and expectations of a revival in China’s economy boosted optimism, helping investors look past a surge in new coronavirus cases in the United States. A non-manufacturing activity index jumped to a reading of 57.1 last month, the highest since […]

The ISM non-manufacturing index confirmed that the economy is bouncing back fast, which supports risky assets, despite the worrying news on public health. The 57.1 reading in the service index implies real GDP growth of 2.9%, according to the ISM. If we look at the historic relationship between the SPX 500’s earnings estimate and the weighted composite ISM […]

The worst of the U.S. coronavirus outbreak will end by January either with a vaccine or because enough people in the country will have already been infected and have some immunity to it, former Food and Drug Administration Commissioner Dr. Scott Gottlieb told CNBC on Thursday. The restrictions and guidance implemented to curb the spread […]

Analysts at Goldman Sachs expect global oil demand to return to pre-pandemic levels by 2022, citing a pick-up in commuting, a shift to private transportation and higher infrastructure spending. In a research note published Thursday, analysts at the U.S. investment bank estimated global oil demand would decline by 8% in 2020, rebound by 6% in […]

Nonfarm payrolls soared by 4.8 million in June and the unemployment rate fell to 11.1% as the U.S. continued its reopening from the coronavirus pandemic, the Labor Department said Thursday. Economists surveyed by Dow Jones had been expecting a 2.9 million increase and a jobless rate of 12.4%. The report was released a day earlier […]

U.S. manufacturing activity rebounded in June, hitting its highest level in more than a year as the broader economy reopened, but rising COVID-19 infections threaten the recovery. The Institute for Supply Management (ISM) said on Wednesday its index of national factory activity jumped to a reading of 52.6 last month from 43.1 in May. That […]

Companies in June continued to bring workers back from their pandemic furlough as the national economy slowly came back to life. Private payrolls grew by 2.369 million for the month, a bit lower than the 2.5 million expectation from economists surveyed by Dow Jones, according to a report Wednesday from ADP and Moody’s Analytics.

Consumer confidence rose more than expected in June as the U.S. loosened stay-at-home and quarantine restrictions, raising hope for an economic recovery, according to data released Tuesday. The Conference Board’s consumer confidence index rose to 98.1 for the month. Economists polled by Dow Jones expected consumer confidence to rise to 91 from a May reading of […]

Pending home sales spiked a stunning 44.3% in May compared with April, according to the National Association of Realtors. That is the largest one-month jump in the history of the survey, which dates back to 2001. It beat expectations of a 15% gain. Sales were still 5.1% lower compared with May 2019, however.