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FILE - In this Monday, June 29, 2020, file photo, shoppers walk around Garden State Plaza in Paramus, N.J., as New Jersey's indoor shopping malls reopened Monday from their COVID-19 pause. U.S. employers likely rehired several million more workers in June, thereby reducing a Depression-level unemployment rate, but the most up-to-date data suggests that a resurgent coronavirus will limit further gains. (AP Photo/Seth Wenig, File)

AP Explains: 5 key takeaways from a strong June jobs report

Jul. 2, 2020 4:13 PM EDT

WASHINGTON (AP) — At first glance, the June employment report was a blockbuster. The U.S. economy produced a record 4.8 million added jobs last month, walloping expectations. And the unemployment rate sank from 13.3% all the way to 11.1%. “Today’s announcement," President Donald Trump...

FILE - In this May 22, 2020, file photo, the Federal Reserve building is viewed in Washington. The Federal Reserve's Main Street lending program is off to a slow start. Banks are showing a surprising lack of interest in the program, while businesses are having a hard time accessing it. (AP Photo/Patrick Semansky, File)

Fed's program for loaning to Main Street off to slow start

Jun. 30, 2020 12:05 AM EDT

WASHINGTON (AP) — Michael Haith, owner and CEO of a Denver-based restaurant chain called Teriyaki Madness, is in an unusual position for people like him: He's making money through food delivery and pickup and wants to borrow funds so he can expand. Yet so far, a Federal Reserve lending program set up...

FILE - In this May 22, 2020, file photo, the Federal Reserve building is viewed in Washington. The Federal Reserve's Main Street lending program is off to a slow start. Banks are showing a surprising lack of interest in the program, while businesses are having a hard time accessing it. (AP Photo/Patrick Semansky, File)

Fed's program for loaning to Main Street off to slow start

Jun. 29, 2020 6:12 PM EDT

WASHINGTON (AP) — Michael Haith, owner and CEO of a Denver-based restaurant chain called Teriyaki Madness, is in an unusual position for people like him: He's making money through food delivery and pickup and wants to borrow funds so he can expand. Yet so far, a Federal Reserve lending program set up...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, June 26, 2020. Asian stock markets followed Wall Street higher on Friday after U.S. regulators removed some limits on banks' ability to make investments. (AP Photo/Ahn Young-joon)

Stocks sink as virus cases jump, forcing states to backtrack

Jun. 26, 2020 5:36 PM EDT

Stocks on Wall Street fell sharply Friday as confirmed new coronavirus infections in the U.S. hit an all-time high, prompting Texas and Florida to reverse course on the reopening of businesses. The combination injected new jitters into a market that's been mostly riding high since April on hopes that the economy...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, June 26, 2020. Asian stock markets followed Wall Street higher on Friday after U.S. regulators removed some limits on banks' ability to make investments. (AP Photo/Ahn Young-joon)

Asian stocks follow Wall Street higher on bank news

Jun. 25, 2020 11:29 PM EDT

BEIJING (AP) — Asian stock markets followed Wall Street higher on Friday after U.S. regulators removed some limits on banks' ability to make investments. Benchmarks in Tokyo, Sydney and Southeast Asia advanced while Hong Kong declined. Chinese markets were closed for a holiday. Wall Street closed higher...

A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Friday, June 19, 2020. Asian stock markets were mixed Friday after Wall Street closed little-changed amid as optimism about a possible global economic recovery was tempered by concern over rising coronavirus infections. (AP Photo/Lee Jin-man)

Wall Street dips as virus fears drown out economy hopes

Jun. 19, 2020 5:20 PM EDT

NEW YORK (AP) — Wall Street careened through all the forces that have pushed and pulled it through the week, at first rising on Friday amid hope for the economy and then falling on worries about worsening coronavirus levels in some states, all before ending with modest losses. The S&P 500 dropped 0.6%,...

An electronic stock board showing Japan's Nikkei 225 index at a securities firm is seen at a street in Tokyo Wednesday, June 17, 2020. Major Asian stock markets declined Wednesday after Wall Street gained on hopes for a global economic recovery and Japan's exports sank. (AP Photo/Eugene Hoshiko)

Asian shares slip as global rally eases off the accelerator

Jun. 18, 2020 12:09 AM EDT

BANGKOK (AP) — Shares fell Thursday in Asia after another day of wobbly trading on Wall Street as markets eased off the accelerator following their big rally. Japan's Nikkei 225 shed 0.3% to 22,394.45 and the Hang Seng in Hong Kong also fell 0.3%, to 24,407.59. South Korea's Kospi slipped 0.2% to 2,137.69...

A woman walks past a banner showing Saudi King Salman, right, and his Crown Prince Mohammed bin Salman, outside a mall in Jiddah, Saudi Arabia, Monday, June 15, 2020. This was supposed to be Saudi Arabia's year to shine as host of the prestigious G20 gathering of world leaders. Instead, due to the coronavirus pandemic, the gathering this November will likely be a virtual meet-up, stripping its host of the pomp that would have accompanied televised arrivals on Riyadh's tarmac.  (AP Photo/Amr Nabil)

Saudis see high hopes for 2020 upended by pandemic

Jun. 16, 2020 3:48 AM EDT

DUBAI, United Arab Emirates (AP) — This was supposed to be Saudi Arabia’s year to shine as host of the prestigious G20 gathering of world leaders. The event would have seen Crown Prince Mohammed bin Salman share handshakes and wide smiles with presidents and prime ministers. Instead, the gathering...

Treasury Secretary Steven Mnuchin speaks during a Senate Small Business and Entrepreneurship hearing to examine implementation of Title I of the CARES Act, Wednesday, June 10, 2020 on Capitol Hill in Washington. (Kevin Dietsch/Pool via AP)

House demands coronavirus loan info from Treasury, banks

Jun. 15, 2020 7:57 PM EDT

WASHINGTON (AP) — A House subcommittee investigating billions of dollars in coronavirus aid is demanding that the Trump administration and some of the nation's largest banks turn over detailed information about companies that applied for and received federal loans intended for small businesses. The...

FILE - In this Thursday, March 19, 2020 file photo, a pedestrian wearing a surgical mask and gloves walks past the New York Stock Exchange in New York. Much of Wall Street is still skeptical of the huge surge for stocks over the last two months. Stocks have a long history of making big gains within long-term down markets, only for the bottom to give out again. (AP Photo/Kevin Hagen)

You're not the only one skeptical of the stock market rally

Jun. 4, 2020 11:37 AM EDT

Just because stocks have scrambled nearly all the way back to their record heights doesn’t necessarily mean the market is in the clear. Stocks have a long history of making big gains within long-term down markets, only for the bottom to give out again. Such mini-, ultimately futile rallies were regular...