business news today

Traders work on the floor of the New York Stock Exchange. NYSE For most of the eight months since the Covid crash culminated, the stock market’s recovery has fed off rampant doubt, disbelief and cognitive dissonance toward resurgent asset prices set against a severely damaged economy. No more. Wall Street’s rally has now entered the
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As the third quarter ends, Wednesday’s indicators offered positive news: the Chicago Business Barometer hit its highest level since December 2018, an “impressive” ADP employment report, soaring sales of pending homes, and two reads of manufacturing in the midwest suggesting expansion. The Chicago Business Barometer gained to 62.4 in September from 51.2 in August. The
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Martin Braithwaite #19 of Barcelona during the Barcelona V Real Sociedad, La Liga regular season match at Estadio Camp Nou on March 7th 2020 in Barcelona, Spain. Tim Clayton | Corbis | Getty Images International soccer star Martin Braithwaite and his business partner Philip Michael are on a mission to convert 100,000 Black women and
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The Federal Reserve’s short-term municipal note program is “open today” to states and local governments struggling with financial woes during the pandemic, though it was reiterated that the program is a last resort. During a Government Finance Officers Association roundtable Monday, Kent Hiteshew, who was recently hired by the Fed to help with municipal markets,
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As the COVID-19 pandemic continues to extend its grip on the globe — infecting more than 1.41 million Americans (over 4.44 million globally) — executives must navigate their organizations through uncharted territory, with the possibility that the virus may not disappear any time soon. This is forcing executives to make big, lasting decisions with few
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Market Moves Stocks closed slightly higher today among large-cap stock indexes. The S&P 500 (SPX), the Nasdaq 100 (NDX), and the Dow Jones Industrial Average (DJX) all lifted toward new highs after the Fed decision left rates unchanged today. The Russell 2000 (RUT) small-cap index was slightly below yesterday’s change, and the Russell Microcap index
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FT subscribers can click here to receive FirstFT every day by email. President Sebastián Piñera announced on Wednesday that Chile would no longer host next month’s summit of leaders from the Asia-Pacific region, disrupting plans by Donald Trump and Xi Jinping to sign a trade war truce at the gathering.  The Chilean president was forced to cancel the
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As a child growing up in the Democratic Republic of Congo, Gloire Ndongala didn’t know much about the wider world, with one exception: he adored US basketball star Michael Jordan. “Think about it, in the Congo we had hardly any technology back then, and we still heard of Michael Jordan,” Ndongala says. The Chicago Bulls
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Consumer confidence unexpectedly plunged in December, although the expectations index improved, while the rest of Tuesday’s economic data came in around expectations. The consumer confidence index fell in December to 88.6 from a downwardly revised 92.9 in November, first reported as 96.1, The Conference Board reported Tuesday. The present situation sank to 90.3 from an
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Take a look at some of the biggest movers in the premarket: Alphabet (GOOGL) – Multiple Google services, including Gmail and YouTube, suffered a widespread outage this morning for an undetermined reason. “Service has already been restored for some users, and we expect a resolution for all users in the near future,” Google said in
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Asset and capital allocations often exacerbate systemic racism across the financial services in some surprising ways. Innovators in the fields of asset management, banking, impact investing and pensions suggest there are also many ways to disrupt the cycle. Shifting the flow of capital could help reduce or eliminate institutional barriers and racial discrimination. Featured guests:
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Donald Trump said on Monday his administration would begin co-operating with Joe Biden’s transition team, bowing to Republican pressure to start the transfer of power even as he vowed to continue contesting his election loss. The president’s statement, which stopped short of a formal concession, came after a Michigan board certified the state’s election results
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While the U.S. retail sales number for October rose, analysts are concerned consumers will not be able to boost the economy during another wave of coronavirus infections, especially without help from the government. Retail sales climbed 0.3% in October, after a downwardly revised 1.6% gain in September, first reported as a 1.9% increase, the Commerce
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