Markets

Dow climbs 139 points, Nasdaq soars as tech giants rally ahead of earnings

US equities climbed higher on Thursday as rallying tech stocks and encouraging economic data reversed some of Wednesday’s plunge. Apple,Amazon,Facebook, and Alphabet led gains ahead of the companies’ third-quarter reports. US GDP grew at a record 33.1% annualized rate in the third quarter, the Commerce Department said Thursday. The reading […]
Dow climbs 139 points, Nasdaq soars as tech giants rally ahead of earnings
Markets

Dow slides 310 points as US economy posts largest contraction in history

US stocks dropped on Thursday after economic data detailed the US’s biggest gross domestic product contraction on record. The country’s economy shrank at an annualized rate of 33% in the second quarter, the Commerce Department announced Thursday. Economists expected a contraction of roughly 35%. Jobless claims data pointed to lasting […]
Dow slides 310 points as US economy posts largest contraction in history
Markets

Dow soars 530 points as coronavirus treatment optimism overshadows GDP slump

US equities soared on Wednesday as traders gained new hope from a successful coronavirus drug trial. Gilead announced Wednesday morning its remdesivir compound succeeded in a key trial. Investors’ optimism toward the positive drug news overshadowed a 4.8% contraction in US GDP through the first quarter. Economists expected the metric […]
Dow soars 530 points as coronavirus treatment optimism overshadows GDP slump
Markets

Dow climbs 400 points as COVID-19 drug hopes outweigh economic pain

US equities soared on Wednesday as traders gained new hope from a successful coronavirus drug trial. Gilead announced Wednesday morning its remdesivir compound succeeded in a key trial. Additional information on the study will be released later in the day. Investors’ optimism toward the positive drug news overshadowed a 4.8% […]
Dow climbs 400 points as COVID-19 drug hopes outweigh economic pain
Markets

More than 64,000 infected, GDP cuts, and SARS parallels: Here’s how bad the global economy could get as the coronavirus outbreak rages

Coronavirus has infected 64,000 and killed 1,380 so far. And as the health crisis worsens, it’s become increasingly clear that the outbreak will have wide-reaching economic consequences. China’s economy is forecast to grow by the smallest margin since the Great Recession – news that will hit its embattled and vulernable […]
More than 64,000 infected, GDP cuts, and SARS parallels: Here’s how bad the global economy could get as the coronavirus outbreak rages
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