U.S. stocks erased most early gains Wednesday as investors weighed mixed corporate earnings against dismal economic data. The dollar gained and Treasury yields rose.
All three major American equities gauges were initially higher after General Motors Co. gained after reporting results that beat analysts’ expectations. A report showed U.S. companies“One thing is for sure is that this pandemic health crisis has produced depression-magnitude job losses which means this recovery is going to take longer than many are thinking,” said Chris Rupkey, chief financial economist for MUFG Union Bank.
The U.S. is increasing the amount of debt it plans to issue in quarterly refunding auctions to a record high of $96 billion to provide government funding as the economy heads into a recession.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global Stocks Mixed as Investors Weigh Economic ReopeningWorld markets were mixed as investors gauged the possible effects of easing lockdowns to combat the new coronavirus. BOYCOTT China A bigger question is what happens to the price of the shares when Chinese companies are required to be PCAOB audited. They do well without legitimate financial reporting. Soon we'll see what they are really made of. China's economy is recovering. Because China has overcome this disease.And the United States and Europe do not. If the US and Europe are to revive their economies, The disease may break out for a second time
Source: WSJ - 🏆 98. / 63 Read more »
Stocks for a 'world after Covid,' according to Bank of AmericaFor subscribers: Stocks for a 'world after Covid,' according to Bank of America Check out CNBCPro for a free trial.
Source: CNBC - 🏆 12. / 72 Read more »
Media Stocks Need Streaming Growth for Earnings Lift, Morgan Stanley SaysAnalyst Benjamin Swinburne forecasts TV channels facing advertising, cable subscriber losses will succeed by how big a slice of the streaming pie they carve out. Good god.
Source: THR - 🏆 411. / 53 Read more »
Stocks rise for second day — three experts weigh inU.S. stocks rallied on Tuesday as investors pinned their hopes on the economy reopening. Three experts weigh in. Hold that thought Stocks are rising because they're being inflated higher by the Fed's monetary inflation. Great still doesn’t change the fact millions of Americans are unemployed
Source: CNBC - 🏆 12. / 72 Read more »
Australia stocks set to open little changed; oil prices surgeOil prices surged on Tuesday as they got a boost from optimism around ongoing production cuts and a recovery in demand as economies reopen. We carry in our hearts the true country And that cannot be stolen We follow in the steps of our ancestry And that cannot be broken We don't need protection Don't need your land Keep your promise on where we stand We will listen we'll understand
Source: CNBC - 🏆 12. / 72 Read more »
Stocks Lose Steam After Fed Vice Chairman Says Economy Needs More SupportStocks finished slightly higher today, but the market cut its gains after Federal Reserve Vice Chairman Richard Clarida warned that the economy would need more support to rebound by skleb1234 skleb1234 Yes buy out some more Zombie companies skleb1234 Vice Chairman Richard Clarida needs to be fired. He is either flat out lying are does not know what he is doing. He needs to go back to school and take a course in economics. The economy is getting the greatest support in history since Trump took over. It will continue to grow skleb1234 Maybe I am enough cleaver but how the stock rise with an economy so near the depression ? I have no doubt it's the Fed wich made Monopoly monney and the rest of the others countries buy the US debt,
Source: Forbes - 🏆 394. / 53 Read more »