Latest Financial markets News

How major US stock indexes fared Wednesday

May. 27, 2020 5:20 PM EDT

Financial, industrial and health care companies helped drive stocks on Wall Street broadly higher Wednesday, extending the market's gains into a third day. Several big department store chains also notched gains as investors bet that the economy will begin to rebound as larger swaths of the country allow...

Emma Hamlet prepares orders received online to be picked up at the Long Beach Surf Shop store her family owns, Wednesday, May 27, 2020, in Long Beach, N.Y. Long Island has become the latest region of New York to begin easing restrictions put in place to curb the spread of the coronavirus as it enters the first phase of the state's four-step reopening process. (AP Photo/Mary Altaffer)

New York City now alone in state in keeping economy closed

May. 27, 2020 5:18 PM EDT

NEW YORK (AP) — Long Island became the latest region of New York to begin easing some restrictions put in place to curb the spread of the coronavirus. Gov. Andrew Cuomo lobbied the president for help with transportation projects. New York City Mayor Bill de Blasio said efforts to fight the virus have left...

A currency trader talks near the screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Wednesday, May 27, 2020. Major Asian stock markets have declined as US-Chinese tension over Hong Kong competes with optimism about recovery from the coronavirus pandemic. (AP Photo/Lee Jin-man)

Wall Street closes higher on economic revival hopes

May. 27, 2020 5:11 PM EDT

Stocks closed higher on Wall Street Wednesday, extending the market's gains into a third day on hopes for a coming economic revival as larger swaths of the country relax stay-at-home mandates imposed due to the coronavirus pandemic and clear the way for more businesses to reopen. Despite a choppy day of trading,...

Closing prices for crude oil, gold and other commodities

May. 27, 2020 5:03 PM EDT

Benchmark U.S. crude oil for July delivery fell $1.54 to settle at $32.81 a barrel Wednesday. Brent crude oil for July delivery dropped $1.43 to $34.74 a barrel. Wholesale gasoline for June delivery fell 6 cents to 99 cents a gallon. June heating oil slipped 2 cents to 97 cents a gallon. June natural gas lost 7...

AT&T, Walt Disney rise; Twitter, Amazon fall

May. 27, 2020 4:19 PM EDT

NEW YORK (AP) — Stocks that moved heavily or traded substantially on Wednesday: Amazon.com Inc., down $11.47 to $2,410.39. The e-commerce giant is considering buying self-driving car technology company Zoox, according to media reports. AT&T Inc., up $1.03 to $31.85. The telecommunication and media...

FILE - In this May 10, 2019, file photo, Bowling Green's Neil Lambert bats during the team's NCAA college baseball game against Kent Sate in Bowling Green, Ohio. Bowling Green recently announced that it is dropping baseball. Colleges mulling whether to cut sports amid the coronavirus pandemic must ensure they remain compliant with the federal civil-rights law known as Title IX, which requires the equitable treatment of remaining men's and women's programs. (AP Photo/Rick Osentoski, File)

Title IX major factor for colleges looking at sports cuts

May. 27, 2020 4:14 PM EDT

Financially challenged schools considering cutting sports in the wake of the coronavirus pandemic are making difficult decisions of who gets to keep playing and who doesn't. The choices aren't just about money when they involve women's sports. And while Title IX doesn't prevent women's sports from being...

A Puerto Rican flag flies on an empty beach at Ocean Park, in San Juan, Puerto Rico, Thursday, May 21, 2020. Puerto Rico is cautiously reopening beaches, restaurants, churches, malls, and hair salons under strict conditions as the U.S. territory emerges from a two-month lockdown despite dozens of new coronavirus cases reported daily. (AP Photo/Carlos Giusti) PUERTO RICO OUT-NO PUBLICAR EN PUERTO RICO

Board suspends budget cuts for struggling Puerto Rico

May. 27, 2020 1:53 PM EDT

SAN JUAN, Puerto Rico (AP) — A federal control board that oversees Puerto Rico’s finances approved a revised fiscal plan on Wednesday that temporarily suspends all budget cuts and anticipates the island’s projected surplus could plunge by 65% as it warned the government is unable to pay...

FILE - In this March 17, 2020, file photo, people wait in line for help with unemployment benefits at the One-Stop Career Center in Las Vegas. The coronavirus pandemic has been particularly brutal to the tourism-dependent economies of Nevada and Hawaii, lifting the unemployment rate in both states to about one-quarter of the workforce. (AP Photo/John Locher, File)

Vanishing jobs for young could create 'lock-down generation'

May. 27, 2020 1:43 PM EDT

GENEVA (AP) — Bashar Ali Naim used to work in a perfume and accessories store in Baghdad, earning $480 per week on average. About three months ago, the coronavirus outbreak swept into Iraq, and the 28-year-old father of two has been out of work ever since. “I am suffering a lot without work. I feel...

This photo combo shows from left,  General Motors Chairman and Chief Executive Officer Mary Barra, David M. Zaslav, President and Chief Executive Officer of Discovery Communications, Lisa Su, president and CEO of AMD, Walt Disney Company Chairman and CEO Robert A. Iger and Netflix Founder and CEO Reed Hastings. The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million in 2019, and the gap between the boss and their workforces widened further, according to AP’s annual survey of executive compensation.  (AP Photo/File)

AMD’S Su, Discovery’s Zaslav among highest paid CEOs

May. 27, 2020 1:35 PM EDT

Here are the highest paid male and female CEOs in the S&P 500 index for 2019, as calculated by The Associated Press and Equilar, an executive data firm. The AP’s compensation study covered 329 executives at S&P 500 companies who have served at least two full consecutive fiscal years at their...

This photo combo shows from left,  General Motors Chairman and Chief Executive Officer Mary Barra, David M. Zaslav, President and Chief Executive Officer of Discovery Communications, Lisa Su, president and CEO of AMD, Walt Disney Company Chairman and CEO Robert A. Iger and Netflix Founder and CEO Reed Hastings. The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million in 2019, and the gap between the boss and their workforces widened further, according to AP’s annual survey of executive compensation.  (AP Photo/File)

CEO pay has topped $12.3M. Can it keep rising post-pandemic?

May. 27, 2020 1:30 PM EDT

The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million last year, and the gap between the boss and their workforces widened further, according to AP’s annual survey of executive compensation. Median pay for CEOs in the survey climbed 4.1% last year. For the typical worker at...