Stocks attempted to rally on Friday, but failed, concluding one of the most volatile weeks on Wall Street ever as investors grapple with mounting fears over the coronavirus’ economic blow. The Dow Jones Industrial Average closed 913 MORE
The Trump administration is asking state labor officials to delay releasing the precise number of unemployment claims they are fielding, an indication of how uneasy policymakers are about further roiling a stock market already plunging MORE
The coronavirus pandemic is plunging the United States into a recession that could be as sharp as the 2008 financial crash, although the economy will likely rebound before President Donald Trump faces re-election in November, MORE
Wall Street was poised for more losses Wednesday, as an escalating oil price war compounded investor panic about the coronavirus’ tightening grip on the U.S. economy, without any clear path to economic protections from the White MORE
Wall Street rallied Tuesday morning, just one day after a historic rout that saw the Dow Jones Industrial Average drop by 2,013 points, the most ever. The Dow soared by almost 800 points at the MORE
A recap of today’s events: The Dow Jones Industrial Average closed the day with a loss of around 2,000 points Monday, part of a global market rout that saw spiraling sell-offs in the energy sector MORE
The Dow plummeted 1,800 points at the open, tripping circuit breakers that halted trading at the New York Stocks Exchange. The growing coronavirus pandemic is also making investors anxious. There are now over 100,000 cases and over 3,000 MORE
February Jobs Report: U.S. Added 273,000 Jobs in February; Unemployment at 3.5%: ■ 273,000 jobs were added in February. Analysts had expected a gain of about 165,000, according to MarketWatch. ■ The unemployment rate was MORE
The Federal Reserve announced an emergency rate cut Tuesday of half a percentage point in response to the growing economic threat from the novel coronavirus. The move was the first such cut since December 2008, MORE
“The overall evidence of the report as we see it is that three years into the Trump administration the U.S. economy continues to outperform pre-2016 election expectations,” –Tomas Philipson, acting chairman of the White House MORE
Nonfarm payrolls surged 225,000 for the month, well above Wall Street estimates for a 158,000 gain. The unemployment rate ticked higher to 3.6%, but for the right reason as the labor force participation rate increased 0.2 MORE
Occidental starting widespread layoffs in Houston and beyond Occidental Petroleum is initiating a broad layoff effort this week that will stretch from Houston to Denver as the Permian Basin’s leading oil producer aims to cut MORE
The U.S. jobs market ended 2019 on a sour note, with December’s payroll and wage growth missing expectations, according to Labor Department figures released Friday. Nonfarm payrolls increased by just 145,000 while the unemployment rate MORE
Axios has come out with a new report that claims American workers are forced to train their foreign replacements. The report focus primarily on AT&T. “Opponents of job outsourcing are making a holiday-season appeal to MORE
President Trump‘s tariffs on imports — meant to boost the economy — ultimately led to job losses and higher prices, a new study from the Federal Reserve has found. Source: The US and China are still “world’s apart” MORE
31 counties accounted for a third of the U.S. economy last year Source: 32.3% of U.S. gross domestic product was concentrated in just 31 counties in 2018, according to government data reviewed by Bloomberg. Why it MORE
In a nutshell: Nonfarm payrolls surged by 266,000 in November, better than the 187,000 expected by economists polled by Dow Jones. The unemployment rate ticked down to 3.5% from 3.6%, back to the 2019 low MORE
According to Reuters, stocks will open lower Tuesday because of Trump’s new tariffs imposed on both Argentina and Brazil. Asian shares tumbled on Tuesday after U.S. President Donald Trump stunned markets with tariffs against imports MORE
Almost 40% of farm profits this year are expected to come from federal assistance, including the trade programme, according to the American Farm Bureau.
But the payments have stirred controversy as the biggest, richest farms – including some foreign-owned firms – collect a majority of the relief. Lobby groups also maintain farmers want markets, not subsidies. MORE
Historic low interest rates boosting riches of top households The top 1% of American households have enjoyed huge returns in the stock market in the past decade, to the point that they now control more MORE
Trump said on Thursday that the Fed is a bigger risk to the US economy than China because interest rates here are higher than in other countries. Trump has called for rates to drop to MORE
The Federal Reserve reduced the benchmark U.S. interest rate for the third time this year Wednesday in an effort to boost the economy as the trade war and a global slowdown threaten to drag the MORE
The US Treasury reported on Friday that the federal deficit has increased 26% from 2018, to $984 billion. The revenue and spending gap is the highest it has been in seven years. Corporate tax revenues MORE
China Wants More Talks Before Signing Trade Deal With Trump Source: The U.S. and China have emerged from last week’s talks with different takes on what’s in the accord and how close they are to MORE
A new book-length study on the tax burden of the ultrarich begins with a startling finding: In 2018, for the first time in history, America’s richest billionaires paid a lower effective tax rate than the MORE