It’s wise to be skeptical of 2021 market forecasts
If anything, 2020 should have proven once and for all the futility of trying to make accurate market predictions.
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Simon Property Group executive takes over as interim CEO at JC Penney
The new owners of JC Penney replaced CEO Jill Soltau less than a month after re-launching the department store chain that went bankrupt during the pandemic.
Stocks close at new highs after signing of COVID-19 rescue package
U.S. investors cheered the U.S. aid package, restoring some of the optimism that drove global stocks to a record this month even as the pandemic escalated.
S&P 500 slumps on virus angst after European rout
A new variant of the coronavirus in the U.K. and a wave of lockdowns and travel restrictions damped global trading, but in the U.S. a stimulus deal kept bigger losses at bay.
Major U.S. stock indexes climb to record levels
U.S. stocks notched solid gains Thursday to close at all-time highs, even as lawmakers continue to wrangle over a federal spending deal.
U.S. stock indexes climb on renewed hope for relief package
Wall Street is growing increasingly confident that Democratic and Republican lawmakers will clinch a bill based on a $748 billion bipartisan proposal that would inject cash directly into the economy as prior benefits begin to expire at the end of the year.
Warehouses luring more cash than offices in pandemic-fueled flip
Investors have poured money into industrial properties in 2020, spending more on U.S. warehouses than office buildings for the first time as social-distancing pushes even more consumers to e-commerce.
CVS to give Eli Lilly therapy to COVID-19 patients at home
The medication will be provided by the U.S. government, which paid Indianapolis-based Lilly $375 million for an initial two-month supply of 300,000 doses as part of the Operation Warp Speed program.
Vaccines herald return to offices, but most workers don’t want to go
More than half of U.S. employees currently working from home say they’d like to keep their remote arrangements beyond the pandemic, according to a Pew Research Center survey released Wednesday.
Restaurant closings top 110,000 with industry in ‘free fall’
The nationwide tally—representing one in six U.S. eateries—is among the findings of a survey released Monday by the National Restaurant Association.
Major stock indexes all hit new records on renewed stimulus hopes
All major indexes for U.S. equities—the S&P 500, the Dow Jones industrial average, the Russell 2000 and the Nasdaq composite—closed at records. Such synchronized highs were last seen in January 2018.
U.S. COVID-19 task force promises rapid December vaccine rollout
Top U.S. infectious-diseases specialist Anthony Fauci said the government “almost certainly” will be vaccinating portions of the U.S. population by the end of December, but the country will likely see a surge in COVID-19 cases before that happens.
Dow closes above 30,000 for first time, S&P 500 jumps to record
Trading volumes have been elevated in what is normally a calm week. More than 12 billion shares changed hands on Monday, up 75% from the Monday before last year’s holiday.
Amazon’s $3,000 signing bonuses irk workers who got $10 coupons
Amazon’s willingness to risk dissension in the ranks reflects a dawning reality: Many Americans are reluctant to reenter the workforce, despite a national unemployment rate of 6.9%, double the pre-pandemic level.
Consumers maintain insatiable demand for disinfecting products
Clorox Co. has added 10 additional third-party manufacturers and is running its own facilities 24 hours a day to make disinfecting wipes as fast as possible. But it’s not fast enough.
Virus surge threatens newfound U.S. corporate profit optimism
While an effective vaccine is expected to be widely distributed in 2021, surging U.S. infections are causing renewed angst as government officials re-impose the kind of restrictions that squelched the economy and roiled markets earlier this year.
Apple to cut App Store fees in half for most developers
Apple has faced ongoing scrutiny from government regulators and criticism from developers about the percentage of revenue it takes for App Store purchases.
DoorDash, Wish, Affirm join Airbnb to fuel year-end IPO boom
Initial Public Offering advisers are expecting to see a record amount of listing activity during the period between the U.S. Thanksgiving and Christmas holidays.
Caution arises on rapid COVID-19 tests in asymptomatic people
One of the first states to receive rapid, low-cost coronavirus tests from the U.S. government is cautioning against their use in asymptomatic people, a group that were hoped to benefit most from the technology.
Stocks put together biggest 2-day rally since September
The Dow Jones industrial average closed 554 points higher, led by a surge in bank shares as Treasury yields spiked on speculation that Congress will deliver a spending bill once the election is decided.