U.S. construction spending increases to record high
U.S. construction spending increased by the most in nearly two years in January, but the upbeat news is likely to be overshadowed by financial market fears that the fast-spreading coronavirus could tip the economy into recession.
Fed’s Powell says economy is fine but Fed ready to act as needed
Federal Reserve Chair Jerome Powell on Friday said the central bank will “act as appropriate” to support the economy in the face of risks posed by the coronavirus outbreak, though he said the economy remains in solid condition.
Tim Cook says he’s ‘optimistic’ that China has the coronavirus situation under control
Apple CEO Tim Cook said on Thursday that he believes that China is getting the situation related to the COVID-19 coronavirus under control.
Advisers to Rich Pitch Equities, Private Markets After Plunge
Advisers to the world’s wealthiest people are urging clients to pounce on potential bargains after U.S. stock markets registered their worst four-day performance since the depths of the 2008 financial crisis.
JPMorgan says buy the dip, bank on Fed ‘insurance’ cuts
For investors struggling to see an end to this market mayhem, JPMorgan said it’s time to buy the dip as the bank believes the coronavirus impact is “likely temporary” and the Federal Reserve will come to the rescue.
US new home sales surge to 12.5-year high in January
Sales of new U.S. single-family homes raced to a 12.5-year high in January, pointing to housing market strength that could help to blunt any hit on the economy from the coronavirus and keep the longest economic expansion in history on track.
U.S. business borrowing for equipment jumps 28% in January: ELFA
U.S. companies’ borrowings for capital investments surged about 28% in January from a year earlier, as a strong U.S. economy drove up business spending, the Equipment Leasing and Finance Association (ELFA) said on Tuesday.
Blackstone’s Byron Wien says sell-off is not the start of a bear market
Blackstone Vice Chairman Byron Wien told CNBC that Monday’s sell-off amid the spreading coronavirus outbreak was not the start of a bear market.
The World’s Biggest Economies Get a Jolt of Government Spending
Governments across the world are starting to use more fiscal firepower to boost economies, though the shift may not be happening fast enough to appease central bankers who say they’re sick of carrying the burden of stimulus alone.
America’s manufacturing recession looks like it could be over
A contraction in U.S. manufacturing spurred by the trade battle with China and slowing global growth may have reached an end already, if two key business surveys hold up.