The stock market finished slightly lower on Wednesday after a dismal report on U.S. payrolls showed 20 million job losses in April and the Treasury Department announced that it will issue a new 20-year bond to help finance government debt during the coronavirus pandemic.The Dow Jones Industrial Average was down 0.8%, nearly 200 points lower, on Tuesday, while the S&P 500 fell 0.6% and the Nasdaq Composite gained 0.7%.
Stocks have moved higher in recent weeks amid increasing optimism on Wall Street over several states—including Georgia, Florida, Texas and California—beginning to reopen businesses and lift coronavirus lockdowns.with ABC on Tuesday that reopening parts of the U.S. economy would inevitably cost lives, but he also argued that the benefits of reopening outweigh the costs.
Investors also grappled with more dismal economic data: ADP and Moody’s Analytics showed private payrolls dropping by 20.2 million in April, theBig tech stocks continued to outperform the market: The five FAANG stocks—Facebook, Apple, Amazon, Netflix and Google parent Alphabet—all finished higher on Wednesday.Oil prices reversed course, falling by as much as 5% and ending a five-day winning streak.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global Stocks Mixed as Investors Weigh Economic ReopeningWorld markets were mixed as investors gauged the possible effects of easing lockdowns to combat the new coronavirus. BOYCOTT China A bigger question is what happens to the price of the shares when Chinese companies are required to be PCAOB audited. They do well without legitimate financial reporting. Soon we'll see what they are really made of. China's economy is recovering. Because China has overcome this disease.And the United States and Europe do not. If the US and Europe are to revive their economies, The disease may break out for a second time
Source: WSJ - 🏆 98. / 63 Read more »
Stocks mixed on corporate earnings and dismal economic dataU.S. stocks erased most early gains as investors weighed mixed corporate earnings and dismal economic data. The dollar gained and Treasury yields rose.
Source: latimes - 🏆 11. / 82 Read more »
Stocks for a 'world after Covid,' according to Bank of AmericaFor subscribers: Stocks for a 'world after Covid,' according to Bank of America Check out CNBCPro for a free trial.
Source: CNBC - 🏆 12. / 72 Read more »
Media Stocks Need Streaming Growth for Earnings Lift, Morgan Stanley SaysAnalyst Benjamin Swinburne forecasts TV channels facing advertising, cable subscriber losses will succeed by how big a slice of the streaming pie they carve out. Good god.
Source: THR - 🏆 411. / 53 Read more »
Stocks rise for second day — three experts weigh inU.S. stocks rallied on Tuesday as investors pinned their hopes on the economy reopening. Three experts weigh in. Hold that thought Stocks are rising because they're being inflated higher by the Fed's monetary inflation. Great still doesn’t change the fact millions of Americans are unemployed
Source: CNBC - 🏆 12. / 72 Read more »
Australia stocks set to open little changed; oil prices surgeOil prices surged on Tuesday as they got a boost from optimism around ongoing production cuts and a recovery in demand as economies reopen. We carry in our hearts the true country And that cannot be stolen We follow in the steps of our ancestry And that cannot be broken We don't need protection Don't need your land Keep your promise on where we stand We will listen we'll understand
Source: CNBC - 🏆 12. / 72 Read more »