Business & Finance News
Wall Street’s three major indexes closed higher after swinging between gains and losses on Friday as investors weighed worries about Sino-U.S. trade relations and weaker-than-expected U.S. economic data against growing optimism that easing coronavirus restrictions would boost activity this month.
The S&P 500 closed higher after swinging between gains and losses on Friday as investors weighed worries about Sino-U.S. trade relations and weaker-than-expected U.S. economic data against growing optimism that easing coronavirus restrictions would boost activity this month.
The S&P 500 zig-zagged on both sides of unchanged on Friday as investors weighed worries about Sino-U.S. trade relations and weaker-than-expected retail sales data against optimism over the reopening of the U.S. economy after coronavirus lockdowns.
Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise.
The S&P 500 and the Dow Jones indexes fell on Friday, but were well off their session lows, amid signs of deteriorating Sino-U.S. trade relations and growing evidence of the economic slump due to the coronavirus pandemic.
The Trump administration on Friday moved to block global chip supplies to blacklisted telecoms equipment giant Huawei Technologies [HWT.UL], spurring fears of Chinese retaliation and hammering shares of U.S. producers of chipmaking equipment.
Layoffs in the United States jumped to a record high in March, while the number of people voluntarily quitting their jobs dropped to a 4-1/2-year low as the novel coronavirus crisis rapidly changed labor market dynamics.
Ethiopian Airlines expects a settlement with planemaker Boeing by end of June over compensation related to the 737 MAX grounding in March 2019 following two fatal crashes, CEO Tewolde Gebremariam told Reuters on Friday.
Shares in Wirecard fell to more than two-year lows on Friday after a Dubai-based business partner closed its doors even as the German payments company played down the impact on operations.
U.S. stocks sank on Friday after data showed a surprisingly sharp dive in retail sales and as investors worried about increased Sino-U.S. trade hostilities, while signs of a pick-up in crude demand boosted oil prices.
U.S. consumer sentiment rose unexpectedly in early May after a record plunge a month earlier as emergency assistance payments improved household finances hurt by mass layoffs from the coronavirus crisis, a survey released on Friday showed.
Ethiopian Airlines expects a settlement with planemaker Boeing by end of June over the crash of an 737 MAX plane in March 2019, CEO Tewolde Gebremariam told Reuters on Friday.
United Airlines Holdings Inc has told staff that it only has work for about 3,000 of its about 25,000 flight attendants in June, sources said, and warned of job losses if demand does not recover by the time government payroll aid expires in the fall.
The Trump administration on Friday moved to block global chip supplies to blacklisted telecoms equipment giant Huawei Technologies [HWT.UL], spurring fears of Chinese retaliation and hammering shares of U.S. producers of chipmaking equipment.
Shares in Wirecard fell more than 13% to their lowest in more than two years on Friday, traders pointing to a tweet about a business partner based in Dubai liquidating as the reason for the sudden sharp drop in afternoon trade.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
