News Highlights : Top Global Markets News of the Day

07/03/2020 | 07:16am
European Stocks Waver With U.S. Markets Shut 

The Dow ended the week up 3.3%, with signs of the labor market's recovery helping offset concerns about the surge in new daily infections in the U.S.

U.S. Coronavirus Cases Hit New Single-Day High Ahead of Fourth of July Weekend 

Coronavirus cases in the U.S. rose to more than 52,000 as the nation entered a Fourth of July weekend marked by restrictions on many activities and warnings to maintain social-distancing practices.

French, Spanish Services Sectors Returned to Growth in June 

The services sectors in France and Spain returned to growth in June, while those of Germany and Italy saw much smaller declines in activity than in recent months, according to surveys of purchasing managers published Friday.

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.

French Prime Minister Resigns, Triggering Shuffle of Macron's Government 

The government of President Emmanuel Macron was upended following the resignation of his prime minister, Édouard Philippe, who spearheaded the president's pro-business agenda and garnered significant popularity for his handling of the coronavirus.

Bond Markets Show a Japanese Future for U.S. Banks 

The gap between yields on Japan's longest-dated government bonds and those in the rest of the developed world have never been narrower. That will eat away at banking profits.

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.


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