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MarketWatchJun 06, 2020
Capitol Report: Black Americans, their lives and livelihoods on the line, suffer most from the pandemic
The coronavirus has cost millions of Americans their jobs, but the pandemic has been particularly painful and deadly for African-Americans.

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Yahoo BusinessJun 06, 2020
OPEC Extends Oil Cuts in Deal That Hinges on End of Cheating
(Bloomberg) -- OPEC agreed to a one-month extension of its record output cuts after adopting a more stringent approach to ensuring members don't break their production pledges.The deal will underpin the oil market recovery, easing the financial pain felt by resource-dependent emerging economies, shale explorers in Texas, and blue-chip companies like Royal Dutch Shell Plc.It's a victory for Saudi Arabia and Russia, who put a destructive price war behind them to successfully cajole Iraq, Nigeria and other laggards to fulfill their obligations. The two leaders of OPEC showed that they intend to keep a close watch on the oil market, meeting every month to assess the evolving balance between supply and demand amid an uncertain economic recovery from the global pandemic.After a video conference lasting several hours on Saturday, delegates said all nations had signed off on a new deal for a production cut of 9.6 million barrels a day next month. That's 100,000 barrels a day lower than the reduction in June because Mexico will end its supply constraints, but a tighter limit than the 7.7 million barrels a day set for July in the group's previous agreement, they said. In addition, the approved communique states that any member that doesn't implement 100% of its production cuts in May and June will make extra reductions from July to September to compensate for their failings.Those promises are a particular vindication for the Saudi Energy Minister Prince Abdulaziz bin Salman, who has consistently pushed fellow mem

CNBC BusinessJun 06, 2020
How pro sports leagues plan to make a comeback during a pandemic
Professional sports have been out of commission since early March due to the coronavirus. Will their return be safe? And will players, fans and owners be happy with the result?

MarketWatchJun 05, 2020
Market Snapshot: Dow closes 800 points higher after jobs report shows surprise jump in payrolls, fall in unemployment rate
Stocks close sharply Friday after the U.S. May jobs report showed a surprise 2.5 million jump in payrolls and a drop in the unemployment rate to 13.3% as businesses began to reopen from the COVID-19 pandemic lockdowns.

USA Today MoneyJun 05, 2020
Defying predictions, economy gains 2.5M jobs and unemployment dips to 13.3% as businesses start to reopen amid COVID-19
The U.S. economy added 2.5M jobs in May as the U.S. economy reopened businesses shuttered by the coronavirus pandemic. 8 million job losses were forecast.       

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Defying predictions of historic losses, economy gains 2.5M jobs and unemployment eases to 13.3% as businesses start to reopen amid COVID-19 (USA Today Money)
UPDATE 2-Bombardier to cut 2,500 aviation jobs as COVID-19 slams demand (Reuters Company News)

Washington Post BusinessJun 05, 2020
Dow soars more than 800 points as stocks close in on pre-pandemic levels
A surprisingly positive jobs report helped push the Standard & Poor's 500 index within 1 percent of going positive for 2020. The S&P was more than 30 percent in the hole less than three months ago.

Yahoo BusinessJun 05, 2020
Few black families will benefit from the historic stock market rally
Most black families will not see the benefit from a historic stock market rally, one that has persisted despite a global pandemic and nationwide protests.


CNBC FinanceJun 05, 2020
Dow jumps more than 800 points, Nasdaq hits a record after surprise jobs surge boosts recovery bets
Stocks rallied after a historic and surprising gain in U.S. jobs raised hope the economy is starting to recover from the coronavirus pandemic.

Wall Street Journal US BusinessJun 05, 2020
Major Fixes Made to Small-Business Loan Program
President Trump signed into law a bill giving companies more time and flexibility to spend funds from the federal aid program to help small businesses during the coronavirus pandemic.

MarketWatch MarketPulseJun 05, 2020
Dow surges 900 points retakes 27,000 as May jobs report shows 'mind-blowing' 2.5 million increase in payrolls and unemployment falls
U.S. stock indexes surged higher on Friday, adding to already sharp gains in the morning after a report on employment in the U.S. showed an unexpected rise in jobs and the rate of unemployment fell rather than rose as had been feared. The report showed that 2.5 million jobs were added last month and the unemployment rate fell to 13.3% from 14.7% in April. Economists had predicted the official unemployment rate will climb to 19% in May, a MarketWatch survey showed. Friday's nonfarm-payroll also was expected to show that 7.25 million U.S. jobs were lost in May, after 20 million were lost in April due to the COVID-19 pandemic. "The US unemployment rate has shocked everyone because the number was much lower than the market expectation," wrote Naeem Aslam, chief market strategist at AvaTrade, in a note after the report was released. "Speculators were whispering for 20%. This a mind-blowing number and shows that the economy is improving," he wrote. The Dow Jones Industrial Average was 900 points, or 3.4%, higher at 27,178, those for the S&P 500 index climbed 2.7% at 3,196, while the Nasdaq Composite climbed 1.9%% at 9,795. The move for equities on Friday comes after the Dow ended 11.93 points, or less than 0.1%, higher on Thursday at 26,281.82. The fourth straight gain matches a similar streak of wins for the blue-chip index ended April 27, according to FactSet data. Meanwhile, the S&P 500 fell 10.52 points, or 0.3%, to close at 3,112.35 and the Nasdaq Composite Index finished 67.10 points, or 0.7%, lower to wrap up the session at 9,615.81, putting the index about 2.1% from its Feb.

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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Dow surges 700 points at open after data surprise shows U.S. economy adding 2.5 million jobs in May (MarketWatch MarketPulse)

USA Today MoneyJun 05, 2020
Graduating from college during the pandemic? These business titans have some advice for you
Graduating from college can be confusing and challenging in the best of times, not to mention a post-COVID-19 world.       

Yahoo BusinessJun 05, 2020
Airlines Surge Toward Best Week Ever, and Trump Needles Buffett
(Bloomberg) -- U.S. airline shares headed for a record weekly gain as investors bet that travel demand was poised to rebound.American Airlines Group Inc. and United Airlines Holdings Inc. climbed for a fifth straight day on signs that passengers were returning after the Covid-19 pandemic devastated demand. Friday's surge -- amid a broad rally on encouraging economic news -- was big enough to spur President Donald Trump to tease billionaire Warren Buffett for dumping airline shares."He's been right his whole life, but sometimes even somebody like Warren Buffett -- I have a lot of respect for him -- they make mistakes," Trump said in a White House news conference. He also touted a surprise gain in payroll jobs last month. "They should have kept airline stocks, because the airline stocks went through the roof today and others did too."American ignited the gains Thursday after boosting its July schedule and signaling that passengers were returning, while United also added flights. Airlines are still bracing for years of pain. But more robust summer schedules suggest that the worst has passed -- and that the rebound in demand has a chance of outpacing the dire expectations the industry was outlining as recently as last month.A Standard & Poor's index of the five biggest U.S. airlines jumped 5.7% at 2:39 p.m. in New York, putting it on pace for a 36% weekly gain. That would be the biggest in data going back to 1989. American led Friday's advance, climbing 12% to $18.73 while United rallied almost as much.

USA Today MoneyJun 05, 2020
Economy unexpectedly gains 2.5M jobs as economy reopens businesses closed by coronavirus pandemic
The U.S. economy added 2.5M jobs in May as the U.S. economy reopened businesses shuttered by the coronavirus pandemic. 8 million job losses were forecast.       

Reuters BusinessJun 05, 2020
Tech drives Nasdaq to all-time high as signs of recovery emerge from coronavirus pandemic
The heavyweight technology and growth stocks that drove Wall Street higher in recent years are again fueling a surge that has taken the Nasdaq from a brutal selloff to an intraday record high in just 11 weeks, as investors look beyond the economic upheaval caused by the coronavirus.

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GRAPHIC-Tech drives Nasdaq to all-time high as signs of recovery emerge from coronavirus pandemic (Reuters Company News)

Reuters BusinessJun 05, 2020
Wall Street Week Ahead: Bond investors look for Fed to justify steepening yield curve
Expectations that the global economy has dodged the worst-case coronavirus pandemic scenarios have led to a dramatic sell-off in U.S. government bonds from their record highs, pushing the yield curve to its steepest level since March.

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Wall St Week Ahead-Bond investors look for Fed to justify steepening yield curve (Reuters Company News)
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