Markets

Markets Wall Street surges at open on record rise in May retail sales
Author: 0 Wall Street surges at open on record rise in May retail sales

Other gainers were JPMorgan Chase, Citigroup, Wells Fargo and Bank of America, which rose by at least 0.8%. USA stock futures started higher Monday evening on the back of the gains made in regular trade and rallied sharply early Tuesday morning on a news report that President Donald Trump was drawing up a $1 trillion infrastructure plan.

Markets AstraZeneca Inks Europe Deal For 400M Covid-19 Vaccine Doses
Author: 0 AstraZeneca Inks Europe Deal For 400M Covid-19 Vaccine Doses

Laboratories are racing to find and develop a vaccine for the coronavirus in record time - finding one in 12 to 18 months rather than the usual several years. According to Moderna's statement, the trial's primary endpoint will be the prevention of symptomatic COVID-19 disease and secondary endpoints include prevention of severe illness (as defined by the need for hospitalization) and prevention of infection by SARS-CoV-2, the virus that causes COVID-19.

Markets SCOTUS Rules in Favor of LGBTQ Workplace Protections
Author: 0 SCOTUS Rules in Favor of LGBTQ Workplace Protections

Gorsuch also cited the 1989 Supreme Court decision, Price Waterhouse v. Hopkins , which held Title's VII's ban on sex discrimination protects those who don't conform to gender norms. The estates of Zarda and Stephens continued the cases. "I'm so grateful for this victory for Aimee". Until this week in the United States of America, many LGBTQ workers lacked these simple legal protections.

Markets Microsoft Halts Sales of Facial Recognition Tech
Author: 0 Microsoft Halts Sales of Facial Recognition Tech

Amazon, meanwhile, said it hoped the ban on police use would give governments ample opportunity to introduce the necessary legal frameworks around the application of facial recognition. Smith added that the company has not supplied the technology to police departments. Smith's statement comes after IBM and Amazon both took similar positions in the wake of worldwide protests against police brutality and racism in policing sparked by the death of George Floyd .

Markets Elon Musk says Tesla ready to start 'volume production' on semi truck
Author: 0 Elon Musk says Tesla ready to start 'volume production' on semi truck

Tesla CEO Elon Musk has confirmed in a leaked email written to company employees that there is an urgent need to address production challenges of electric vehicle Model Y and it is top priority for the company. Musk has said Tesla is scouting other USA states for a site to build a new factory, hinting that Texas could be a candidate. Several states - including Oklahoma - have launched campaigns with aims to lure a coveted Tesla investment.

Markets 6,700 new unemployment claims filed in ME, according to Department of Labor
Author: 0 6,700 new unemployment claims filed in ME, according to Department of Labor

In an indication that some people are returning to work - or were denied benefits - 20.9 million people were receiving unemployment payments in the week ended May 30, down from 21.3 million continuing claims in the prior week. At least one survey from the Economic Policy Institute found that millions of Americans gave up trying to seek benefits or didn't even attempt to due to states' overwhelmed and antiquated unemployment systems.

Markets Fed puts floor under bond buying, sees zero rates through 2022
Author: 0 Fed puts floor under bond buying, sees zero rates through 2022

Economic growth is projected to bounce back to 5% in 2021 and 3.5% in 2022 with the longer run at 1.8%. World shares took their biggest tumble in five weeks on Thursday as a sobering outlook from the U.S. Powell, however, voiced his concern that millions of Americans could be permanently unemployed from this crisis. The risk of more Fed easing initially had the USA dollar under pressure, seeing it touch a three-month low against a basket of currencies at 95.714.

Author: 0 Musk - time for Tesla Semi to get on the road

Musk did not specify a timeframe for the production. But its success in the stock markets is not the only thing that makes Nikola a strong potential challenger to Tesla. Simply put, Musk previously stated that Tesla could not produce the Semi in volume unless the company has the capability to manufacture enough cells for such a large vehicle.

Markets United States recession started in February, ending 128-month expansion
Author: 0 United States recession started in February, ending 128-month expansion

The committee looks for a "significant decline in economic activity" across several economic indicators, which covers not just GDP but factors like real income and employment , as well as retail and manufacturing sales. The World Bank on Monday said that the world is facing a health and economic crisis that would produce the largest shock to the global economy in seven decades.

Markets U.S. inflation continues to drop in May, but at slower pace
Author: 0 U.S. inflation continues to drop in May, but at slower pace

USA consumer prices fell for a third straight month in May and underlying inflation was weak as demand remained subdued amid a recession caused by the COVID-19 pandemic. Therefore, core inflation was only 1.2 percent year-on-year in May. US consumer prices dropped 0.1 percent in May, following a 0.8 percent fall seen in April.

Markets Again, oil prices rise after OPEC+ cuts
Author: 0 Again, oil prices rise after OPEC+ cuts

Taking advantage of the lower crude oil prices, Chinese crude oil imports soared to record high levels in May, reaching 48 million tonnes, up from 40.2 million tonnes in same month a year ago. The UAE is OPEC's third-largest producer, and Abu Dhabi holds most of the country's crude. A political deadlock in the country has further complicated production cuts.

Markets Trump Support Drops, Trails Biden by Double Digits — CNN Poll
Author: 0 Trump Support Drops, Trails Biden by Double Digits — CNN Poll

Mr Trump was facing tougher political prospects even before the death last month of George Floyd , the black man who died after a white Minneapolis police officer pressed his knee onto his neck. Since the last week of April, the president's re-election campaign has spent more than USD13 million on TV and radio ads across eight battleground states and the District of Columbia, attacking Biden as soft on China while defending the president's response to the pandemic, according to data from ...

Markets Unemployment falls as United States adds 2.5 million jobs
Author: 0 Unemployment falls as United States adds 2.5 million jobs

The economy beating expectations by 10 million jobs (more than Michigan's population) and the unemployment rate falling instead of rising show that the transition back to strong economic growth began earlier than many expected. While unemployment was down in May for whites and Hispanics, it remained little changed for blacks and Asians. Still, the unemployment rate in May rose to 13.7 per cent, the highest level in more than four decades of comparable data.

Markets Stocks Surge on Surprising Jobs Report
Author: 0 Stocks Surge on Surprising Jobs Report

The Dow closed just 11.93 points higher on Thursday, halting a rally the peaked yesterday on growing optimism regarding the reopening of several USA states. As a result of the new jobs report, many now believe that the US' recovery will be closer to the "V-shaped" variety. "Something like this builds credibility for what the stock market has been telling you", said Brian Belkin, chief investment strategist for BMO Capital Markets.

Markets US Jobless Claims Understate Reality With Gaps in Federal Data
Author: 0 US Jobless Claims Understate Reality With Gaps in Federal Data

New data from the Department of Labor released Thursday show another 1.9 million Americans filed for unemployment last week, marking the first time in more than two months new claims fell below 2 million within a seven day period. New claims for the week ending May 30 increased by 31,083 to 206,494 in the Sunshine State. There were another 13,500 initial claims for federal Pandemic Unemployment Assistance.

Markets Asia markets mixed after Wall Street rises on better United States data
Author: 0 Asia markets mixed after Wall Street rises on better United States data

New Zealand and Jakarta also advanced. That appeared to have at least slightly alleviated worries over recent efforts by Chinese leaders to exert more control over the former British colony. Australia gained 0.8 per cent on the back of a A$680 million (S$657 million) package for residents to build or renovate their homes - the fourth stimulus since the pandemic began.

Markets Door still open to transition period extension — EU's Barnier
Author: 0 Door still open to transition period extension — EU's Barnier

Round four of EU/UK trade negotiations after Brexit comes to an end. Last month the UK's chief negotiator David Frost wrote to Barnier arguing that it was "not a provision any democratic country could sign". They continue to condition access to waters to an annual negotiation, which is not possible for us, not even technically possible. "We are now at an important moment for these talks".

Markets Hyundai's Santa Fe is even newer than it looks
Author: 0 Hyundai's Santa Fe is even newer than it looks

The grille, with its signature geometric patterned inlay, also integrates the headlamps, a signature style found on many Hyundai cars. When will the 2021 Hyundai Santa Fe come to Australia? A large front grille is flanked with quad headlights, split down the middle by the T-shaped daytime running lights.

Markets Factory activity slide eases in May
Author: 0 Factory activity slide eases in May

IHS Markit, which compiles this measure in more than 40 countries, said May's manufacturing PMIs for the eurozone, United Kingdom and USA are 39.5, 40.6 and 39.8 respectively. "Both factory production and order book volumes continued to fall sharply, albeit softer rates than in April as some lockdown restrictions were loosened.

Markets New 2021 BMW 5 Series stays stylish, adds superchargers and XtraBoost
Author: 0 New 2021 BMW 5 Series stays stylish, adds superchargers and XtraBoost

With the addition of XtraBoost, which electrically adds 40 more horsepower on demand-when the accelerator is pegged, in Sport mode-maximum power from the hybrid system gets boosted to 288 hp, with 310 lb-ft of peak torque. Besides the redesigned headlights, the taillights, front and rear bumpers will also have some changes in design. The auto has a 3-spoke steering wheel and a 12.3-inch digital instrument cluster.