News Highlights: Top Global Markets News of the Day
|07/08/2020 | 07:16am|
Chinese Tech Firms Get Trading Boost From Hong Kong Listings
Hong Kong is becoming an active center for trading stock in some of China's largest technology groups, bolstering the case for more secondary listings of U.S.-listed Chinese companies.
New Coronavirus Cases Hit Daily Record in U.S., With 60,000
Infections continued to rise rapidly in states such as Florida and Texas, as the country's total neared three million.
Fed's Clarida Says Economy's Path Tied to Efforts to Deal With Pandemic
Federal Reserve Vice Chairman Richard Clarida said in a television interview that the fate of the economy is tied to what happens with the coronavirus pandemic.
Covid Still Poses Challenges for Financial System, Fed's Quarles Says
Global policy makers responded decisively to the coronavirus outbreak earlier this year but the financial system isn't out of the woods yet, a top Federal Reserve official said Tuesday.
Layoffs Fell in May to Pre-Coronavirus Levels
The number of Americans dismissed from their jobs fell sharply in May to match levels recorded before the coronavirus pandemic and related shutdowns caused widespread layoffs.
Oil Prices Swing Ahead of Stockpile Data
Crude prices have stalled around $40 a barrel as traders wait for inventory data that might indicate whether the U.S. economy and demand for oil are indeed rebounding.
The World Can't Take Much More Shale Gas
Natural-gas prices have bounced back from the 25-year low reached late last month, but analysts and traders don't expect them to go much higher. At least until it is time to turn on the heat.
Investment Firms and Real-Estate Developers Took Stimulus Loans Too
The former U.S. operations of a sanctioned Russian bank, a hedge fund partly owned by one of the biggest private-equity firms in the world and a real-estate developer behind two of Manhattan's most expensive condominium towers were among the firms that benefited from PPP.
Unemployment Expected to Reach Highest Level Since Great Depression
Unemployment rates in the world's advanced economies will end the year higher than at any time since the Great Depression and not return to their pre-pandemic levels until 2022 at the earliest, according to the Organization for Economic and Cooperation and Development.