Business

S&P 500, Nasdaq hit record highs on megacaps, earnings strength

(Reuters) -The S&P 500 and Nasdaq indexes hit record highs on Friday and were on track to end the week with gains, helped by megacap growth stocks and strong earnings from social media companies, while a weak forecast from Intel hit chipmakers.FILE PHOTO: A street sign for Wall Street is seen outside the New York […]

Business

Analysis-Outsized European bond orders shrink after hedge fund crackdown

(Reuters) – European governments’ efforts to stamp out outsized bids from hedge funds at bond sales appear to be bearing fruit, with order books for the most recent issues showing a steep decline from levels seen at the start of this year.FILE PHOTO: The euro sign is photographed in front of the former head quarter […]

Business

Dow sinks 2% as virus surge stifles recovery hopes

(Reuters) – The Dow sank more than 2% on Monday as investors sold off economically sensitive shares and travel stocks and sought the perceived safety of bonds on fears that a spike in COVID-19 cases would derail a broader economic recovery.FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange in […]

Business

Wall Street drops 1% as virus surge fans recovery fears

FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. REUTERS/Carlo Allegri(Reuters) – Wall Street’s main indexes fell sharply at the open on Monday, with economy-linked value and travel stocks taking a hit after a spike in global COVID-19 cases raised fresh concerns about slowing […]

Business

China to explore cross-border payments in digital yuan

BEIJING (Reuters) -China’s central bank said on Friday it will explore cross-border payments in digital yuan, and is willing to discuss setting global standards for digital fiat currency to jointly develop the international monetary system.FILE PHOTO: A sign indicating digital yuan, also referred to as e-CNY, is pictured on a vending machine at a subway […]

Business

U.S. small caps waver as reflation trade wobbles

NEW YORK (Reuters) – Expectations that the U.S. economic rebound will slow in the second half are weighing on small cap stocks, forcing fund managers to look for companies that could continue to profit in a lower growth environment.FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange in New York, […]

Business

World shares steady, U.S. yields hover near lows ahead of fresh data

LONDON (Reuters) – Global shares held steady while U.S. Treasury yields hovered near multi-month lows on Friday, with markets looking to U.S. consumer data as the next test of the Federal Reserve’s dovish rates outlook.FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby MelvilleOil […]

World News

Further flooding feared in western Germany with death toll above 80

SCHULD/ERFTSTADT, Germany (Reuters) – Further flooding was feared in western Germany on Friday as a breach at another dam loomed and the death toll rose to more than 80 in what is Germany’s worst mass loss of life in years.Slideshow ( 3 images )Entire communities lay in ruins after swollen rivers swept through towns and […]

Business

Euro zone inflation easing confirmed, trade surplus dips

BRUSSELS (Reuters) – Euro zone inflation slowed in June after a steady acceleration in the first months of 2021, official data confirmed on Friday, while the bloc’s trade surplus shrank in May due to a decline of exports.FILE PHOTO: People walk down the empty Hohe Strasse shopping district during a night-time curfew, amid the coronavirus […]

Business

Biden sees U.S. child tax credit as 'giant step' to counter poverty

WASHINGTON (Reuters) -Some 35 million American families have started receiving their first monthly payout from the U.S. government in an expanded income-support program that President Joe Biden said on Thursday could help end child poverty.FILE PHOTO: U.S. President Joe Biden flanked by President of McHenry County College Clint Gabbard and Senator Tammy Duckworth, speaks with […]