LinkedIn data shows U.S. job hiring may have hit bottom in mid-April
The coronavirus pandemic created a huge crash in new job hiring in March and early April, but the worst may be behind us, according to data gathered by LinkedIn.
Homebuilder sentiment bounces back in May, after record plunge in April
After the sharpest one-month drop in the history of the index in April, homebuilder sentiment bounced back slightly in May as builders saw a quick rebound in interest from buyers. Confidence in the market for single-family, newly built homes rose 7 points in May to 37, according to the National Association of Home Builders/Wells Fargo […]
Moderna reports positive data on early-stage coronavirus vaccine trial, shares surge
Moderna’s closely watched early-stage human trial for a coronavirus vaccine produced Covid-19 antibodies in all 45 participants, the biotech company announced Monday, sending the company’s shares surging more than 17%.
Fed Is All In: Here Are the Key Features of Its Lending
By Christopher Condon (Bloomberg) — The Federal Reserve has announced a raft of emergency lending programs, with approval from the Treasury Department, to help the U.S. economy weather the devastating impact of the coronavirus pandemic. These could ultimately deploy trillions of dollars in lending. The programs seek to keep financial markets functioning and, in unprecedented steps, […]
Fed Takes Next Step Toward Launching Muni Lending Facility
By Matthew Boesler (Bloomberg) — The Federal Reserve took another step toward launching an emergency lending program for state and local governments, publishing an online document on Friday for would-be borrowers. The so-called notice-of-interest document is for eligible issuers in the municipal debt market “to express interest in selling notes to the special purpose vehicle” set […]
Scientists race to find a cure or vaccine for the coronavirus. Here are the top drugs in development
Health officials and scientists across the world are racing to develop vaccines and discover effective treatments against the coronavirus, which has infected more than 4.2 million people worldwide in as little as four months, according to data compiled by Johns Hopkins University.
Some hope for the recovery in the dismal jobs report: 78% of workers say their layoff is temporary
The economy lost a record 20.5 million jobs in April, but nearly 4 in 5 workers surveyed by the government see their layoffs as temporary.
‘Feels like we’re at the bottom’: Some executives see signs of recovery in April
The coronavirus pandemic ground the U.S. economy to a near halt in March and April. But in the last couple of weeks, many company executives and investors across industries say they are seeing small signs business is picking up again. At the very least, there is evidence the sharp downturn has hit bottom.
Smartphone shipments in China up 17% in April, signalling likely rebound: government data
Smartphone shipments from China’s factories to vendors rose 17% in April compared to the same month a year ago, according to government data released on Tuesday.
Wall Street Titans See Tax Hikes Whether They Like Them or Not
By Sridhar Natarajan and Max Abelson Dalio and Fink predict higher individual, corporate rates Blankfein says pandemic response means more revenue is needed (Bloomberg) — It’s a line you don’t hear every day from Wall Street titans: Maybe we really should pay higher taxes. The pandemic has bold-face names like Larry Fink and Lloyd Blankfein thinking out loud that it might be […]