Wall Street gains on bargain hunting but trading volatile
U.S. stocks were higher in late afternoon trading on Friday but had bounced between losses and gains as bargain hunting following a sharp losses a day earlier was offset by continued worries about the economy.
Volkswagen, Audi on hold as Mexico’s Puebla state not ready to reopen
Mexico’s Puebla state, where German automaker Volkswagen and its luxury brand unit Audi have major plants, said it is not ready to reopen its automotive sector due to ongoing concerns about the spread of the coronavirus.
Coronavirus threatens Chicago’s last remaining trading pits
Chicago brokers and traders worry the novel coronavirus will kill more of the city’s once famous shout-and-gesture trading pits.
S&P turns negative in volatile trade
The S&P 500 slipped into negative territory in volatile trading on Friday, as it flirted with a key long-term technical indicator, a day after a punishing session for Wall Street on fears of a resurgence in coronavirus infections and economic worries.
‘Persistent fragilities’ ahead for households and businesses -Fed report
The Federal Reserve expects household finances and business balance sheets to suffer “persistent fragilities” as a result of the shock to economic activity arising from the coronavirus pandemic, the central bank said in a report to Congress on Friday.
Exclusive: U.S. senators draft plan to reform new plane design approvals after 737 MAX crashes
Two key U.S. senators are circulating a bipartisan draft bill that would reform how the Federal Aviation Administration certifies new aircraft in the wake of two fatal Boeing 737 MAX crashes that killed 346 people.
Oil on track for weekly loss on virus resurgence fears
Oil was little changed on Friday and headed for a first weekly fall since April as new U.S. coronavirus cases spiked, stoking fears of a second wave of the virus hitting fuel demand.
Fed frets about small business failures amid ‘alarming’ data
A large number of small U.S. businesses could fail during the coronavirus recession, the Federal Reserve said on Friday, slowing recovery and creating lasting damage to the world’s largest economy.
Bankrupt car rental firm Hertz to offer up to $1 billion in shares
Car rental firm Hertz Global Holdings Inc said it would sell up to $1 billion in shares, cashing in on a huge speculative rise in its share price since filing for bankruptcy late last month.
Robinhood users’ favorite stocks roar back after selloff
Shares of airlines, cruise lines and other companies that have been popular with investors on the Robinhood trading app shot higher on Friday, a day after stocks suffered their worst one-day market rout in about three months.
