News Highlights : Top Global Markets News of the Day
|08/06/2020 | 05:16am|
White House Negotiators Press Democrats on Stimulus Talks
The White House moved to increase the pressure on Democratic leaders to give ground in the coronavirus-aid negotiations, saying Republicans were prepared to walk away and rely on executive actions by President Trump if an agreement isn't within reach by the end of the week.
U.S. Daily Coronavirus Case Count Sticks Above 50,000
The U.S. reported more than 50,000 new coronavirus cases for the second day in a row as parts of the country took further measures to curb the spread.
German Industrial Sector Rebounds
German manufacturing orders rose an-above forecast 28% in June, the second consecutive monthly improvement for the sector.
BOE Holds Steady, Says Negative Rates Won't Help
The Bank of England kept its benchmark interest rate steady at 0.1% and said the U.K. economy will take until the end of next year to make up the ground lost during the coronavirus pandemic.
India's Central Bank Keeps Key Lending Rate Unchanged
India's central bank left its key lending rate unchanged at 4.00% and said it would monitor inflation and wait to see if recent easing moves were enough to lift the economy, which was hard hit by the Covid-19 pandemic.
U.S. Stocks Rise on Stimulus Hopes
U.S. stocks rose after White House negotiators said they aim to reach a deal on a new coronavirus-relief package by the end of the week.
Chicago Fed President Says Trouble Is Brewing for Economy Without Fiscal Policy Boost
Charles Evans said the U.S. economy would face a much steeper climb should Congress fail to at least partially extend more generous unemployment benefits and take broader fiscal policy action to combat the effects of the coronavirus pandemic.
Fed's Clarida Sees Third-Quarter Growth, Slow Recovery
Federal Reserve Vice Chairman Richard Clarida said he expects the economy to grow in the third quarter, adding that activity could return to pre-pandemic levels by the end of 2021.
Lapse in Extra Jobless Aid Seen Hurting Recovery
Many economists expect last week's expiration of $600 in enhanced weekly unemployment benefits to lead to a sharp drop-off in household spending and a setback for the U.S. economy's near-term recovery.
Lebanon Bonds Hold Ground After Deadly Explosion
The deadly explosion that devastated Beirut left investors grappling with the potential damage to an economy already ravaged by crisis.