Fed sees GDP drop of 6.5% in 2020, pledges at least $120 billion in monthly bond-buying
The U.S. Federal Reserve on Wednesday signaled years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers...
Instant View: Fed sees GDP falling 6.5% in 2020, keeps rates at zero
The U.S. Federal Reserve on Wednesday repeated its promise of continued extraordinary support for the economy as policymakers projected a 6.5% decline in gross domestic...
U.S. May deficit nearly doubles to $399 billion
The U.S. federal budget deficit in May nearly doubled to $399 billion from a year earlier amid continued strong spending on coronavirus relief programs and...
Oil edges higher, even as U.S. inventory rise revives glut worries
Oil recovered its earlier losses on Wednesday, even as U.S. data showed crude inventories rose to a record high, reviving worries of a persistent glut...
Fed sees growth contracting by 6.5% on year, pledges bondbuying at least ‘at current pace’
The U.S. Federal Reserve on Wednesday repeated its promise of continued extraordinary support for the economy as policymakers projected a 6.5% decline in gross domestic...
Mnuchin says U.S. recovery has begun, will gain strength in third, fourth quarter
U.S. Treasury Secretary Steven Mnuchin said on Wednesday that the U.S. economy has already begun to rebound from the coronavirus pandemic and would “improve dramatically”...
American, Delta say demand uptick helping cash burn; United requiring health checklists
American Airlines Group Inc and Delta Air Lines Inc said on Wednesday that a modest recovery in demand was helping to slow daily cash burn...
S&P 500, Dow retreat as focus turns to Fed; Nasdaq hits fresh high
The S&P 500 and Dow slipped on Wednesday, as losses in financial stocks countered a boost from the technology sector, with focus now shifting to...
Oil slides below $41 as U.S. inventory rise revives glut worries
Oil slid below $41 a barrel on Wednesday after U.S. data showed crude inventories rose to a record high, reviving worries of a persistent glut...
J&J moves up start of coronavirus vaccine human trials to July
Johnson & Johnson moved up the start of human clinical trials for its experimental vaccine against the highly contagious coronavirus by two months to the...