Virus resurges clouding job market rebound
U S unemployment fell to 11.1 percent in June as the economy added 4.8 million jobs but a resurgence of the coronavirus threatens the recovery with new shutdowns. Johns Hopkins reported daily infections at a record 50,700, prompting states to reclose bars, restaurants, and theaters. President Trump hailed the report as a rebound while critics warn the gains may erode as layoffs persist and permanent job losses rise.
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Stocks rise on job market data and energy gains
Wall Street closed higher as a stronger job market data cheered investors. The S P 500 rose 0.5 percent, the Nasdaq hit a fresh record, and energy and materials shares led gains while Florida outbreak worries trimmed early optimism. The Dow gained about 92 points as yields fell and risk sentiment remained fragile but positive.
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Airlines urge social distancing but stop short of rules
Federal guidance asks airlines and airports to boost social distancing, enhance cleaning, and screen travelers for health. Regulators stop short of mandating masks or capacity limits, while airlines push for exemptions and unions weigh in on the travel restart amid high COVID rates.
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