Business

Wall Street ends higher as tech rally squashes virus fears, but S&P down for week

(Reuters) – Technology stocks again rode to Wall Street’s rescue on Friday, lifting the main indexes more than 1%, but the Dow and the S&P 500 still posted their longest weekly losing streaks in a year as fears of a slowing economy sparked an almost month-long rout. Investors started buying beaten-down shares after the Nasdaq […]

Business

Wall Street closes higher as tech rally squashes virus fears

(Reuters) – Technology stocks again rode to Wall Street’s rescue on Friday, lifting the main indexes more than 1%, but the Dow and the S&P 500 still posted their longest weekly losing streaks in a year as fears of a slowing economy sparked an almost month-long rout.FILE PHOTO: Traders wearing masks work, on the first […]

Business

Americans splurged over Labor Day weekend. That's the good news

WASHINGTON (Reuters) – People flocked to stores – and back to restaurants – over Labor Day weekend in the United States, setting post-pandemic highs for retail foot traffic and seated dining but also posing a puzzle. The upturn may be a sign that consumer confidence is returning alongside a fall in new coronavirus infections. Or […]

Politics

Citing new book, Biden accuses Trump of betraying Americans on coronavirus

WARREN, Mich. (Reuters) – Democratic presidential nominee Joe Biden accused President Donald Trump on Wednesday of betraying the American people, saying he knowingly lied about the deadliness of the novel coronavirus in what amounted to a “dereliction” of his duty. According to newly released recordings of interviews done in February for a book by journalist […]

Politics

Book shows Trump betrayed Americans by downplaying virus: Biden says

WARREN, Mich. (Reuters) – Democratic presidential nominee Joe Biden accused President Donald Trump of betraying the American people on Wednesday, saying he knowingly lied about the deadliness of the novel coronavirus in what amounted to a “dereliction” of his duty. According to newly released recordings of interviews done in February for a book by journalist […]

Business

Nasdaq rebounds as tech stocks stabilize after rout

(Reuters) – U.S. stocks bounced on Wednesday with the Nasdaq gaining 1.5%, as a rout in technology shares halted and investors shrugged off news that AstraZeneca had paused global trials of its experimental coronavirus vaccine. Tesla Inc’s shares jumped 8.8% after shedding about a fifth of their value in the previous session, following its surprise […]

Business

Stocks end lower as tech swoon persists, Tesla in historic drop

NEW YORK (Reuters) – U.S. stocks closed lower for a third straight session on Tuesday as heavyweight technology names extended their sell-off to send the Nasdaq into correction territory, while Tesla suffered its biggest daily percentage drop after the stock was passed over for inclusion in the S&P 500. Each of the 11 major S&P […]

World News

U.S. happy to help in China-India border dispute, Trump says

WASHINGTON (Reuters) – The United States is ready to help resolve the dispute between India and China over the mountain border running through the western Himalayas, President Donald Trump said on Friday. Trump told reporters the situation was “very nasty,” adding that the two countries were “going at it much more strongly than a lot […]

Business

S&P, Dow futures bounce after tech selloff, focus shifts to jobs report

(Reuters) – Futures tracking the S&P 500 and Dow indexes bounced on Friday after Wall Street’s worst session since June, with attention turning to the crucial jobs report that is likely to show a faltering recovery in the labor market. The Labor Department’s report is expected to show 1.40 million U.S. jobs created last month, […]

Business

Fed policymakers signal comfort with higher inflation

(Reuters) – In the week since the Federal Reserve made a landmark shift in its approach to monetary policy, details are emerging on what it could look like in practice, with two Fed policymakers on Thursday saying they’d be comfortable with leaving interest rates near zero even if inflation rises to levels not seen on […]