Stocks fall as economic pain deepens, rally runs out of gas

NEW YORK (AP) — Wall Street closed out its first losing week in three with another drop on Friday after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline. The S&P 500 fell 27.29, or 0.7%, to 3,768.25, with stocks of companies that...

VIRUS TODAY: Unemployment claims in US rise to 965,000

Here’s what’s happening Thursday with the coronavirus pandemic in the U.S.: THREE THINGS TO KNOW TODAY — The number of people seeking unemployment aid soared last week to 965,000, the most since late August, offering evidence that the resurgent virus has caused a spike in layoffs. The Labor...

US unemployment claims jump to 965,000 as virus takes toll

WASHINGTON (AP) — The number of people seeking unemployment aid soared last week to 965,000, the most since late August and a sign that the resurgent virus has likely escalated layoffs. The latest figures for jobless claims, issued Thursday by the Labor Department, remain at levels never seen until the...

US jobless claims jump to 965,000 as layoffs remain high with economy in grip of virus

Biden's Commerce nominee says she has 'blueprint' for US

President-elect Joe Biden’s nominee to lead the Commerce Department said Wednesday if confirmed she will take much of what she has learned improving her home state of Rhode Island’s economy and apply it at the federal level. “Right before COVID, Rhode Island had a record number of jobs and...

Job openings down in most industries, while layoffs spike

WASHINGTON (AP) — Layoffs spiked in November compared with the previous month and the number of job openings slipped, signaling that the job market has stalled as the resurgent coronavirus has brought about another wave shutdowns of restaurants and bars and hobbled consumer spending. While the layoffs were...

Once again, job losses fall unequally across the US economy

WASHINGTON (AP) — Ten months into America’s viral outbreak, low-income workers are still bearing the brunt of job losses — an unusual and harsh feature of the pandemic recession that flattened the economy last spring. In December, the nation shed jobs for the first time since April. Once...

How major stock indexes fared Friday

Major stock indexes closed at new highs on Wall Street Friday, leaving the market with solid gains for the first week of the year. Technology stocks and companies that rely on consumer spending helped lift the market, outweighing losses in financial, industrial and other sectors. Investors largely shrugged off...

Stock market shakes off a slump to reach more record highs

Wall Street notched more milestones Friday as the market largely shrugged off another discouraging jobs report amid expectations that the incoming Biden administration will pump more aid into the pandemic-ravaged economy. The S&P 500 rose 0.5%, its second straight record high, after bouncing back from a...

Fed transcripts show doubts about need for 2015 rate hike

WASHINGTON (AP) — Newly released transcripts show that many Federal Reserve officials had concerns in late 2015 over whether they were making a mistake in raising a key interest rate for the first time in nearly decade. Transcripts of their discussions, released Friday, showed that the chief concern was...