Coronavirus
Orders for Big-Ticket Manufactured Goods Jump 7.3% in June
Orders for big-ticket manufactured goods rose a solid 7.3% in June, the second big monthly gain as manufacturing tries to climb out of a spring slump triggered by the coronavirus pandemic.
Oil Trading Profits Soar for Energy Majors Who Made Storage Bets
In March and April, as oil prices plunged to their lowest in a generation, Norwegian energy giant Equinor ASA was busy doing the opposite of what oil companies usually do: pumping as much crude as possible underground into giant caverns on the nation’s North Sea coast.
New-Home Sales in June Surge to Highest in Almost 13 Years
New-home sales in the U.S. increased to an almost 13-year high in June, fueled by record-low borrowing costs and adding to evidence that residential real estate is a bright spot for the economy.
Schlumberger Shrinks Staff to Lowest Since Pre-Shale Era
Schlumberger Ltd. posted its weakest sales in 14 years and is cutting one-fifth of its workforce while warning that new waves of COVID-19 could derail the nascent recovery in global energy demand.
Toll Roads With Fewer Cars an Unlikely Haven for Bond Buyers
Municipal-bond investors are scouring for pockets of the $3.9 trillion market that are a haven from the coronavirus and its recession. Turns out toll roads may be a safe bet.
Mnuchin Says Payroll Tax Holiday Not in Next Stimulus Bill
A payroll tax holiday sought by President Donald Trump won’t be in the next stimulus package, but may be in follow-up virus relief legislation, Treasury Secretary Steven Mnuchin said.
1.4 Million Seek Jobless Aid, First Increase Since March
The number of laid-off Americans seeking unemployment benefits rose last week for the first time since the pandemic struck in March, evidence of the deepening economic pain the outbreak is causing to the economy.
Baker Hughes Bracing for Second Wave of COVID-19 Lockdowns
Baker Hughes Co. is bracing for a second wave of pandemic-induced lockdowns after the virus crippled economic activity around the world and compounded a historic oil bust.
US Sales of Existing Homes Jump 20% After 3-Month Slump
Americans stepped up their home purchases in June by a robust 20.7% after the pandemic had caused sales to crater in the prior three months. But the housing market could struggle to rebound further in the face of the resurgent viral outbreak and a shrinking supply of homes for sale.
Emptier Roads Not Resulting in Increase in Safety, Data Says
The COVID-19 pandemic has rendered U.S. roadways emptier and more lethal, according to preliminary data from the National Safety Council.