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MarketWatch MarketPulseJun 04, 2020
S&P 500, Dow on the verge of snapping string of wins as stock-market losses crystallize in Thursday's final hour
U.S. stock benchmarks head lower late Thursday as investors weigh optimism about the reopening of the economy and data that showed some signs of paring weakness from the COVID-19 pandemic and concerns that equities have risen too briskly in recent trade. The Dow Jones Industrial Average was off 130 points, or 0.5%, at 26,137, on the brink of ending a 3-day win streak. The S&P 500 index was down 0.8% at 3,097, while Nasdaq Composite Index retreated 1% at 9,587. The Nasdaq still remains within 3% of its Feb. 19 record high at around 9,817.18. Both the Nasdaq and S&P 500 were threatening to end a win streak at four straight sessions.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Reuters BusinessJun 04, 2020
America's billionaire wealth jumps by over half a trillion during COVID-19 pandemic: report
The combined wealth of America's billionaires, including Amazon.com Inc founder Jeff Bezos and Facebook Inc CEO Mark Zuckerberg, jumped over 19% or by half a trillion since the onset of the COVID-19 pandemic in the United States, according to a report published by the Institute for Policy Studies (IPS).

MarketWatch MarketPulseJun 04, 2020
FTC sends warning letters to 35 more companies over unsubstantiated claims relating to COVID-19
The Federal Trade Commission said Thursday it has sent warning letters to 35 more companies telling them to stop making unsubstantiated claims that their products can treat or prevent COVID-19. It's the sixth set of warning letters to be sent since the start of the outbreak and brings the total of those targeted to more than 160 companies and individuals. The latest crop are mostly aimed at treatments offered in clinics or medical offices and include such things as intravenous (IV) Vitamin C and D infusions, supposed stem cell therapy, and vitamin injections that may at first glance appear to be based in medicine or proven effective. "However, currently there is no scientific evidence that these, or any, products or services can treat or cure COVID-19," the agency said in a statement. The letters warn that failure to cease making claims could lead to a federal court injunction and order requiring customer refunds. The Securities and Exchange Commission and the Food and Drug Administration have also been cracking down on claims made during the pandemic.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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UPDATE 2-Inovio plans human trials for potential COVID-19 vaccine in South Korea in June (Reuters Company News)
UPDATE 2-EU to use $2.7 billion fund to buy promising COVID-19 vaccines (Reuters Company News)

MarketWatch MarketPulseJun 04, 2020
Dow ekes out 4th straight daily gain ahead of May jobs report
Stocks ended mostly lower Thursday, though the Dow Jones Industrial Average eked out a tiny gain to extend its win streak to four sessions. The S&P 500 and Nasdaq Composite, meanwhile snapped a four-day run of gains. Equities had rallied strongly this week, boosted by signs the economic contraction caused by the COVID-19 lockdown was beginning to ease. The Dow ended the day up around 12 points, or less than 0.1%, near 26,282, while the S&P 500 gave up around 11 points, or 0.3%, to close near 3,112, according to preliminary figures. The Nasdaq gave up 67 points, or 0.7%, to finish at 9,615. Earlier, the Nasdaq 100 touched an all-time intraday high. It ended the day down 75 points, or 0.8%. Another 1.9 million U.S. workers applied for first-time unemployment benefits in the week ended May 30, the Labor Department reported Thursday, slightly higher than the 1.8 million consensus among economists polled by MarketWatch. The data suggest that the economy may have seen the worst of the impact of the epidemic. The May jobs report due Friday morning is expected to show the U.S. economy shed another 7.25 million jobs last month.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Reuters Company NewsJun 04, 2020
UPDATE 1-Slack withdraws billings forecast on COVID-19 uncertainty
Slack Technologies Inc on Thursday withdrew its forecast for 2021 billings citing uncertainty driven by the COVID-19 pandemic, sending shares down 16% after market hours.

Reuters Company NewsJun 04, 2020
UPDATE 1-Wary Canadians start spending as COVID-19 restrictions ease, boosting economy
The Canadian economy is showing green shoots with data on home sales, consumer spending and new job postings trending upwards after the coronavirus pandemic forced shutdowns and caused a record plunge in economic activity.

RELATED ARTICLES
RPT-Wary Canadians start spending as COVID-19 restrictions ease, boosting economy (Reuters Company News)
Wary Canadians start spending as COVID-19 restrictions ease, boosting economy (Reuters Company News)

Reuters BusinessJun 04, 2020
U.S. jobless claims dip below 2 million, road to recovery rocky
The number of Americans filing for unemployment benefits dropped below 2 million last week for the first time since mid-March, but remains astonishingly high as companies adjust to an environment that has been significantly changed by COVID-19.

RELATED ARTICLES
WRAPUP 3-U.S. jobless claims dip below 2 million, road to recovery rocky (Reuters Company News)
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