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This newspaper page contains 8 articles. Subscribers can read the full text of each article.
Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jun 16, 2020
Page
8
Nationwide retail sales fell sharply in March and April as store closures and stay-at-home orders from the coronavirus hit. April sales dropped 16.4 percent, after an 8.3 percent slide in March. With restrictions easing, economists forecast a 9 percent May gain, with the Commerce Department releasing the May totals today.
The Federal Reserve reports industrial production fell 11.3 percent in April, a record drop after a 4.5 percent decline in March. Economists forecast a 2.8 percent gain in May as economy reopens, with the Fed releasing its monthly index today.
The NAHB/Wells Fargo Housing Market Index rose to 37 last month with April at 30, the lowest since June 2012 due to the coronavirus. Economists expect the current reading to rise to 46.5, signaling improved sentiment though readings below 5 indicate negative outlook.
Jason Pride chief investment officer of private wealth at Glenmede says volatility is here to stay for a while. The S&P 500 sits about 9 percent below February highs after a week that marked the index s largest drop in nearly three months.
Fear shifted to greed as markets recovered from an early selloff after the Federal Reserve outlined new steps to support the economy. The S&P 500 rose about 0.8 percent as investors priced in the policy measures and rotated into equities.
Stocks face a volatile session amid renewed concerns that new waves of coronavirus infections could slow the worldwide economic recovery. Traders watched swings across major indices while seeking clues on policy and corporate results. HTZ
A high speed chase moved from Highway 24 into North Lawrence then downtown Lawrence. At 19th and Massachusetts officers fired after the suspect allegedly pointed a gun, killing him. a white female passenger was taken into custody and uninjured. The incident prompted road closures and an ongoing Johnson County Sheriff investigation with both KHP and University of Kansas officers involved. Officers on administrative leave during inquiry.
KU Chancellor Douglas Girod outlined fall plans including social responsibility pledges, mask use where distancing fails, and extensive testing and contact tracing in partnership with regional health systems. Dining, housing, and in person classes will run near capacity with enhanced safety measures and revised schedules.
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