S&P 500 Sets First Record Since February, Erasing Its Coronavirus Plunge
The S&P 500 closed at its highest level ever Tuesday, capping a remarkable rebound fueled by unprecedented government stimulus and optimism among investors about the world's ability to manage the coronavirus pandemic.
Japan's Exports Decline Slowed in July
Japan's exports fell at a slower pace in July as shipments to China rose for the first time in seven months as the coronavirus crisis there eased compared with Western nations.
Several States Commit to Extra Federal Jobless Benefit of $300 a Week
The Labor Department estimates states will take three weeks on average to deliver the enhanced unemployment payments offered by the federal government under an executive order from President Trump.
Mnuchin Says Stimulus Talks Remain Stalled
Treasury Secretary Steven Mnuchin said talks remain stalled between Republicans and Democrats over another round of stimulus funding, though bipartisan appetite for a deal remains high.
Community-Based Lenders See Surge of Interest
A network of financial institutions set up to address economic inequality have received multimillion-dollar investments from Goldman Sachs Group, Bank of America, Netflix and Google, among others, following the coronavirus pandemic and the heightened attention on race.
U.S. Housing Starts Surged in July
Housing starts, a measure of U.S. homebuilding, rose by 22.6% in July compared with June, to a seasonally adjusted annual rate of 1.496 million. above economists expectations that starts would grow by 4.6%, to an annual pace of 1.24 million.
A Chinese Power Stock With a Mighty Tailwind
Ming Yang Smart Energy Group benefits from Chinese stimulus and a lack of baggage that weighs down many competitors.
Refinancing Your Mortgage? Those Rock-Bottom Interest Rates Aren't for You
Homeowners across the country are rushing to refinance at record-low interest rates. Many are finding that lenders have reserved their best rates for buyers.
Selloff in Emerging-Market Currencies Shows No Sign of Respite
The Brazilian real, the South African rand and the Turkish lira have lost about 20% of their value against the dollar this year, putting the former two on course for their biggest annual declines since 2015.
Mortgage Industry in for More Surprises
Fannie's and Freddie's new fee on some mortgage loans is unlikely to be the last move as their role in the market evolves.