|Delayed - 08/05 05:27:50 pm|
News Highlights: Top Global Markets News of the Day
|07/03/2020 | 05:16am|
U.S. Stocks Rally on Jobs Report
The Dow industrials and S&P 500 climbed after the June employment report showed the economy gained more jobs than expected last month.
Texas Mandates Face Coverings as Coronavirus Cases Surge
Texas Gov. Greg Abbott issued an executive order requiring face coverings as the coronavirus crisis intensified in the state and new infections in the U.S. passed 50,000 for the first time.
Hong Kong Security Law Stuns International Business: 'It Turns Out It Is Really Bad'
Beijing is telling foreign companies not to worry, but its intercession in Hong Kong has executives fearing that the city's unique role as a business hub is in jeopardy.
China Caixin Services PMI Rose to Over 10-Year High in June
The Caixin China services purchasing managers index rose to 58.4 in June from 55.0 in May, as the easing of virus-control measures in most parts of the country drove demand.
Chapter 11 Business Bankruptcies Rose 26% in First Half
Chapter 11 business bankruptcy filings increased 26% in the first half of this year as more U.S. companies sought protection from creditors during the coronavirus pandemic, according to legal-services firm Epiq Systems.
CBO Sees Double-Digit Jobless Rate Through 2020, GDP to Shrink 5.9%
The jobless rate is expected to remain in double-digits through the end of the year, and the economy will shrink an estimated 5.9%, according to projections released by the Congressional Budget Office.
U.K. Consumer Confidence Ticks Up
Consumer confidence in the U.K. edged up slightly at the end of June as nonessential shops resumed business, data from GfK showed.
U.S. Unemployment Rate Fell to 11.1% in June
The employment report, based on survey data largely collected in mid-June, doesn't reflect recent government-mandated business closures and related layoffs in response to the coronavirus.
U.S. Oil-Rig Count Falls by 3 in Latest Week, Baker Hughes Says
The number of rigs drilling for oil in the U.S. fell by 3 in the past week to 185, according to oil-field services company Baker Hughes.
Oil Prices Rise on Jobs Report
Global crude prices rose Thursday after employment data showed the U.S. economy gained more jobs than expected last month.