Latest Economic outlook News

In this Thursday, April 2, 2020, photo, Tulsa River Spirit Expo Center is mostly empty at the Tulsa Fairgrounds in Tulsa, Okla. (Stephen Pingry/Tulsa World via AP)

The Latest: UN to decide in month whether to delay meeting

Apr. 4, 2020 1:29 AM EDT

The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: —CDC recommending Americans cover their faces when leaving...

Home Depot customers carry their purchases as they leave the store, Friday, April 3, 2020 during the coronavirus pandemic in New York. (AP Photo/Mark Lennihan)

Walmart limits store access; US airlines sign up for grants

Apr. 3, 2020 7:16 PM EDT

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Friday related to the global economy, the work place and the spread of the virus. ____________ COSTS MOUNT: The pandemic will cost the global economy as much as $4.1 trillion, or nearly...

A pedestrian walks by The Family Barbershop, closed due to a Gov. Gretchen Whitmer executive order, in Grosse Pointe Woods, Mich., Thursday, April 2, 2020. The coronavirus COVID-19 outbreak has triggered a stunning collapse in the U.S. workforce with millions of people losing their jobs in the past two weeks and economists warn unemployment could reach levels not seen since the Depression, as the economic damage from the crisis piles up around the world. (AP Photo/Paul Sancya)

A bleak US jobs report likely portends even deeper losses

Apr. 3, 2020 4:51 PM EDT

WASHINGTON (AP) — A grim snapshot of the U.S. job market's sudden collapse emerged Friday with a report that employers shed hundreds of thousands of jobs last month because of the viral outbreak that's brought the economy to a near-standstill. The loss of 701,000 jobs, reported by the Labor Department,...

A carpenter, who declined to be identified, cuts plywood to cover a closed store where artwork in support of people affected by the coronavirus already covers an adjacent panel in downtown Seattle, Thursday, April 2, 2020. The number of people seeking unemployment benefits in Washington set a new record last week, with tens of thousands more people in the state filing new claims as non-essential businesses remain closed due to the ongoing coronavirus pandemic. (AP Photo/Elaine Thompson)

Jobs report Friday is expected to end record hiring streak

Apr. 3, 2020 7:09 AM EDT

WASHINGTON (AP) — After a record 113 straight months of hiring, the government's monthly jobs report Friday is expected to show that the American jobs machine came to a sudden halt in March as a result of the coronavirus. Economists have forecast that the government will say employers shed about 150,000...

An Impoverished Indians gives his finger print on a biometric machine after purchasing food ration in Prayagraj, India, Thursday, April 2, 2020. India is adding more resources to tackle its increase in coronavirus cases by announcing that private hospitals may be requisitioned to help treat virus patients, and turning railway cars and a motor racing circuit into makeshift quarantine facilities. The steps were taken after a nationwide lockdown announced last week by Prime Minister Narendra Modi led to a mass exodus of migrant workers from cities to their villages, often on foot and without food and water, raising fears that the virus may have reached to the countryside, where health care facilities are limited. (AP Photo/Rajesh Kumar Singh)

The Latest: India's PM looks to boost country's morale

Apr. 3, 2020 12:38 AM EDT

The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — India's PM urges citizens to light candles Sunday night to...

Soldiers sing their national anthem at a soup kitchen where they delivered food on the outskirts of Buenos Aires, Argentina, Thursday, April 2, 2020, during a government-ordered lock down to help contain the spread of the new coronavirus. (AP Photo/Natacha Pisarenko)

What you need to know today about the virus outbreak

Apr. 2, 2020 9:02 PM EDT

More than 6.6 million Americans applied for unemployment benefits last week — doubling a record high set just one week earlier — in a sign that layoffs are accelerating in the midst of the new coronavirus, which has now infected more than 1 million people worldwide. Meanwhile, President Donald...

Mexican economy may contract by 4 to 8% in 2020

Apr. 2, 2020 5:42 PM EDT

MEXICO CITY (AP) — Mexico's Treasury predicted Thursday that the country's economy will contract by as much as 3.9% in 2020 the face of the spreading COVID-19 pandemic, but private analysts are making even more dire predictions: the country's worst economic downturn since the Great Depression. That was...

FILE - In this Jan. 10, 2020, file photo, the Charging Bull stands in Manhattan's financial district in New York. The virus pandemic that has killed over 40,000 people worldwide is also wreaking havoc on corporate profits, with Wall Street forecasting a double-digit decline in the second quarter and no return to growth the rest of the year. (AP Photo/Mark Lennihan, File)

Profit forecasts tank as virus pandemic whacks economy

Apr. 2, 2020 8:10 AM EDT

NEW YORK (AP) — The virus pandemic that has killed over 40,000 people worldwide is also wreaking havoc on corporate profits, with Wall Street forecasting a double-digit decline in the second quarter and no return to growth the rest of the year. Companies began 2020 hoping to put a year of trade war-induced...

FILE - In this Feb. 1, 2020, file photo, funeral home workers remove the body of a person suspected to have died from the coronavirus outbreak from a residential building in Wuhan in central China's Hubei Province. Skepticism about China’s reported coronavirus cases and deaths has swirled throughout the crisis, fueled by official efforts to quash bad news in the early days and a general distrust of the government. In any country, getting a complete picture of the infections amid the fog of war is virtually impossible. (Chinatopix via AP, File)

The Latest: Israel's health minister has new coronavirus

Apr. 2, 2020 1:13 AM EDT

The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: ___ — Isreaeo's health minister diagnosed with new...

A woman walks past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Thursday, April 2, 2020. Asian stocks were meandering Thursday after a White House warning that as many as 240,000 Americans might die of the coronavirus sent Wall Street tumbling and signs of the outbreak's global economic cost increased.(AP Photo/Kin Cheung)

Asian stocks mixed as economic toll of virus worsens

Apr. 2, 2020 12:04 AM EDT

BEIJING (AP) — Asian stocks were meandering Thursday after a White House warning that as many as 240,000 Americans might die of the coronavirus sent Wall Street tumbling and signs of the outbreak's global economic cost increased. Benchmarks in Tokyo and Hong Kong opened lower but were trading higher by...