Powell warns of deep downturn and slow recovery risk
Federal Reserve Chair Jerome Powell warned of a deep downturn with significant uncertainty about when a recovery will take hold. He urged use of all tools to cushion fallout from the coronavirus and said a full recovery hinges on disease containment and public confidence. He supported considering extending unemployment benefits past six months and noted many jobless will need to switch industries as travel and hotel sectors remain weak.
MENTIONED IN THIS ARTICLE
Federal Reserve
Jerome Powell
Powell
More Workers Seek Unemployment Benefits Amid Reopenings
About 1.5 million people filed for U S unemployment benefits last week, the 11th drop from a peak near 7 million in March as the economy reopened. The total receiving aid fell slightly but analysts expected a sharper decline as restaurants gyms and retailers resume operations.
MENTIONED IN THIS ARTICLE
U.S
Shoppers Return With Vigor
American shoppers increased store purchases by 17.7 percent from April to May signaling renewed demand for retailers after the coronavirus shutdowns. The gain follows steep month to month drops in March and April and keeps purchases 6.1 percent below year earlier levels as the economy begins a slow, prolonged recovery.
Telecommunications sectors best performers report
iMoneyNet Inc releases a review highlighting top performing telecommunications sector stocks. Detailed performance figures, notable gainers, and comparative rankings among peers are discussed to guide investors. This summary outlines key movers and market implications for the period observed.
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ETSY
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Chegg Inc
CHGG
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Roku Inc
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Shopify Inc
Avalara Inc
AVLR
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TDOC
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Orbcomm Inc
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Teradyne Inc Ter
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Rogers Comm B Rci
Ventas Inc Vir
Welltower Inc Well
Darden Best Dri
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Money Fund Data
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Ayala Pharmaceutical Ayla
Gulfport Energy Corp InflaRx
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