The major futures indexes are indicating a rise of 1.5 percent when the Wednesday trading session begins on Wall Street.
As Hertz Global Holdings Inc., files for bankruptcy following a near-halt on most travel amid the coronavirus pandemic, rental companies have reportedly begun selling much of their fleets in an attempt to survive the devastating economic impacts of the COVID-19 lockdowns.
Instead of direct deposit or even a paper check, four million people will find their stimulus payment arrive in the form of a prepaid debit card.
U.S. equity markets slipped Thursday as investors weighed the pace of the economic recovery after job losses tied to COVID-19 remain elevated.
Roughly 38.6 million people have now filed for jobless aid since the coronavirus forced millions of businesses to close their doors and shrink their workforces, the Labor Department said Thursday.
Parent company L Brands will also close 50 Bath & Body Works stores in U.S. and one in Canada.
The current economic crisis has many Americans already planning to dip into their 401(k)s, but there are better options.
Bipartisan Policy Institute estimated that the depletion date would jump from 2035 to 2029.
The outlook is hazy for a second cash payment for Americans who have been impacted by the coronavirus pandemic.
Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak led more companies to slash jobs even though most states have begun to let some businesses reopen under certain restrictions.
Additional rescue aid from government spending or tax policies, though costly, would be “worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery,” Federal Reserve Chair Jerome Powell said.
The price index for meats, poultry, fish and eggs increased the most, according to the U.S. Bureau of Labor Statistics.
The bonus will be $300 for full-time hourly associates and $150 for part-time hourly and temporary associates, the company said.
President Trump said Monday his administration is considering a second round of coronavirus stimulus payments.
Call it realism or pessimism, but more employers are coming to a reluctant conclusion: Many of the employees they’ve had to lay off in the face of the coronavirus pandemic might not be returning to their old jobs anytime soon.
More than a decade of job gains were erased in April; the stunning job losses are more than double what the U.S. saw during the 2008 financial crisis.
"I'm very happy that I found work," Jose said in Spanish through a translator. "I now have money to send to my family. This is very important."
The unemployment rate could reach 16% or more. Twenty-one million jobs may have been lost in April.
The Democratic senators introduced a bill to give $2,000 a month to many Americans during the coronavirus pandemic.
The employee retention credit is designed to encourage businesses to keep employees on their payroll, the IRS says.