Coronavirus
McConnell Expects New Virus Relief Bill by End of Month
Senate Majority Leader Mitch McConnell predicted Congress will pass one final coronavirus rescue package later this month and appealed to everyone in public life to urge people to wear masks to control the spread.
US Stocks Rally, Sending Nasdaq to Record High
U.S. stocks jumped, with tech shares pushing the Nasdaq Composite to a record high. The dollar fell for a fifth day and Treasuries dipped.
Oil’s Rally Falters in US With Summer Demand Looking Bleak
U.S. crude futures reversed course with investors concerned that lackluster demand through the summer months will weigh on the market’s recovery.
CBO Trims GDP Forecast for 2020, Lifts 2021 Projection
The U.S. economy will see a slightly deeper contraction this year but a bigger rebound in 2021 than previously forecast, according to updated estimates from the Congressional Budget Office.
House Clears Extension of Small Business Loan Program to August
The House gave final last-minute congressional approval July 1 to extending the popular Paycheck Protection Program for small businesses until Aug. 8, hours after the deadline for applications lapsed with more than $130 billion still available.
Tesla Beats Delivery Expectations, Sending Shares Surging
Tesla Inc. reported a sequential gain in quarterly deliveries that seemed improbable weeks ago, sending its stock surging toward Wall Street’s most bullish price target.
FAA Concludes Three Days of Test Flights of Boeing’s 737 Max
Testing of the 737 Max jetliner’s revised flight-control systems by U.S. regulators and Boeing Co. wrapped up July 1, laying the foundation for the plane’s possible return to service later this year.
US Unemployment Falls to 11.1%; Trucking Adds 8,000 Jobs
The U.S. unemployment rate fell to 11.1% in June according to the Labor Department as the economy added 4.8 million jobs and the easing of coronavirus-related restrictions allowed more businesses to reopen while bringing back some of their employees.
Is Density Related to COVID-19 Infection Rates? These Experts Say No
Density is not related to confirmed COVID-19 infection rates, according to a study from a team of public health and planning experts.
Daimler CEO Warns of ‘Drastic’ Pay Cuts, Deeper Restructuring
Daimler AG CEO Ola Kallenius said the maker of Mercedes-Benz cars and the industry as a whole face painful cutbacks to overcome the economic fallout of the COVID-19 pandemic.