New jobless claims were up 778,000 for the week ending Nov. 21, an increase of 30,000 over the previous week, which was revised up by 6,000 to 748,000, according to the latest weekly Bureau of Labor Statistics report released on Wednesday (Nov. 25). Get the Full Story...
Two words might explain Tuesday’s stock market action: “Relief rally.” Because Wall Street, it’s famously been said, abhors a vacuum and hates uncertainty. When uncertainty lifts and when questions get answered, investors may feel it’s safe to buy again. Get the Full Story Complete the...
The Dow may just have crossed 30,000, but U.S. consumers are growing gloomier as a dark coronavirus winter settles in, as shown in a new Consumer Confidence Survey report released by The Conference Board Tuesday (Nov. 24). Get the Full Story Complete the form to unlock...
Nothing’s set in stone yet, but as the Biden administration settles in, we’ll get some clearer indications about what’s ahead for monetary policy — which impacts the economy, of course — and for banks. Get the Full Story Complete the form to unlock this article...
A letter from over 125 economists, including former Federal Reserve Vice Chair Alan Blinder and Jason Furman, chairman of the Council of Economic Advisers during President Barack Obama’s administration, calls on U.S. lawmakers to act on new funding, saying the need for more stimulus funds...
U.S. taxpayers stand to absorb a hit of about $435 billion from borrowers’ failure to repay student loans currently on the federal government’s book, the Wall Street Journal reported Saturday (Nov. 21). Get the Full Story Complete the form to unlock this article and enjoy...
Consumers freed by a COVID-19 vaccine from the last eight months of disease-related restrictions could unleash enough spending on services such as travel and dining to drive inflation to levels not seen in years, economists told the Wall Street Journal. Get the Full Story Complete...
A growing wave of coronavirus cases and related restrictions could trigger a decline in first-quarter gross domestic product (GDP), J.P. Morgan economists said in a new forecast, CNBC reported Friday (Nov. 20). Get the Full Story Complete the form to unlock this article and enjoy...
New jobless claims ticked upwards last week, with 742,000 people filing for benefits while COVID-19 cases continued to accelerate in the U.S. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
