While virtually every aspect of the U.S. economy has been hit hard during the COVID-19 pandemic, the tech industry and its Silicon Valley hub…
Tag: economy
Apple re-closes 11 U.S. retail stores total due to COVID-19 spikes
Apple said Friday it was temporarily re-closing 11 stores in four U.S. states due to concern about COVID-19 spikes. Apple said that it was re-closing…
Apple to re-close some U.S. stores due to spike in COVID-19 cases
Apple will re-close some U.S. retail stores in Florida, Arizona, South Carolina, and North Carolina due to a spike in COVID-19 cases…
Tech stocks boost Nasdaq as recovery optimism prevails
Tech shares drove the Nasdaq index higher on Thursday, with U.S. weekly jobless claims dipping below 2 million, bolstering economic recovery optimism …
Stock close higher as recovery signs soothe protest, pandemic worries
U.S. stocks posted gains on Monday as signs of U.S. economic recovery helped offset jitters over increasingly violent social unrest amid an ongoing pandemic
Apple Retail Stores smashed and looted amid widespread riots
Apple Retail Stores have become a target of rioters and looters during the ongoing protests across the United States, with some Apple Store storefronts…
Apple Stores, other retailers already hit hard by COVID-19 shutdown board up amid violent U.S. protests, looting, and riots
Apple Stores and many other retailers have boarded up following the death in Minneapolis of a black man, George Floyd, seen on video gasping for breath…
Taiwan’s 2020 GDP expected to drop to 5-year low amid pandemic
Taiwan’s economic growth is likely to drop to its lowest point in five years in 2020 as the COVID-19 coronavirus pandemic hurts domestic consumption and…
Apple’s 2H20 growth rates depend on a healthy macroeconomic recovery
New products, stimulus and remote work/learning purchases are currently boosting Apple’s sales, but a healthy macroeconomic recovery will…
Wall Street gains as some U.S. states begin to reopen for business
Hopeful eyes watched several U.S. states that began to relax shutdown restrictions instituted in order to curb the COVID-19 pandemic and reopen for business…
President Trump says Apple CEO Cook sees V-shaped recovery
The two discussed the COVID-19 pandemic and state of the economy. Trump said Cook believes the economy will have a V-shaped recovery …
Why is the stock market rising even though 26M people are out of work?
Many investors believe the stock market has gone bonkers, saying it has become totally divorced from the reality on Main Street.…
Investors think COVID-19 sent US economy into another Great Depression
Since mid-March, 26M more people have applied for jobless benefits in the U.S. for an unemployment rate of 20.6%, closing in on Great Depression levels…
The COVID-19 data is clear: Stop the panic and end the total isolation
The COVID-19 pandemic is entering the containment phase. We now need sensible policymakers who have the courage to ignore the panic and rely on facts…
Why the stock market could boom this year with its biggest rally ever
The stock market, before Wednesday, rallied strongly as the coronavirus curve flattened. Imagine, now, the magnitude of the rally …
Apple gaps up, helps lift Dow Jones to 500-point gain
The stock market held bullish gains in afternoon trading Tuesday as Apple, Home Depot, and Microsoft outperformed in the Dow Jones Industrial Average…
Fed Chair Powell: Recovery can be ‘robust’ once COVID-19 is contained
Federal Reserve Chairman Jerome Powell said Thursday that the economic rebound following the coronavirus-induced shutdown “can be robust.”
Early Asia tech results signal steady recovery after COVID-19 hit
Sales in China are rising again as COVID-19 cases there decline and global demand for chips is surging, positioning Asian tech for a steady recovery …
U.S. payrolls plunge 701,000 in March, unemployment rate rises to 4.4%
U.S. non-farm payrolls in March fell by 701,000 and the unemployment rate rose to 4.4%. Some two-thirds of the drop came in the hospitality industry…
Deep, but short: What Apple’s production recovery tells us about COVID-19 recession
Due to the COVID-19 pandemic black swan, we’re now dealing with a significant global recession. The duration is the most important factor…
S&P 500 set for worst first quarter since 1938
The S&P 500 on course for its worst first quarter since 1938, even as Wall Street seemed to steady on Tuesday as investors returned to stocks that are…
Dow rockets out of bear market, enters new bull market
The Dow Jones Industrial Average tumbled into a bear market in a mere 19 trading days. Mere days later, welcome to the new bull market!
Deal reached on $2 trillion U.S. coronavirus stimulus
World stocks surged 11% on Wednesday as coronavirus-battered markets leapt on news of a $2 trillion U.S. fiscal stimulus package. News of the deal …
Dow soars to close up 11% in best day since 1933
The Dow Jones Industrial Average soared on Tuesday, logging its best day in 87 years as the Trump administration neared agreement on a $2 trillion…
Stocks jump on stimulus bill hopes, President Trump’s reopening signal
After Trump on Tuesday signaled he was eager to reopen the economy and amid hopes that U.S. lawmakers were close to an agreement, stocks jumped …
Dow crashes 10% in biggest one-day percentage drop since 1987
U.S. stocks tumbled more than 9% on Thursday, as the Dow, S&P 500 and Nasdaq all crashed in response to the global coronavirus pandemic…
Warren Buffett reacts to stock market rout: Not as bad as 2008 or 1987
Not as bad as 2008 or 1987. That’s what Warren Buffett said about the current coronavirus / oil shock market freakout. In an interview with…
Morningstar: COVID-19 market sell-off a ‘gross overreaction’ to a ‘severe but manageable flu’
Morningstar’s biotech strategist Karen Anderson and energy analyst Preston Caldwell are calling the COVID-19 market sell-off a “gross overreaction” to a…
Apple lost $100 billion in market value in trading today
Today in Wall Street panicking, er… trading, Apple plunged $100 billion in value while Microsoft plummeted by $83.6 billion as the broader market…
Coronavirus worries spark panic-driven sell-off on Wall Street
Today, amidst a veritable Wall Street panic, all three major U.S. stock averages opened sharply lower in a plunge so steep it triggered a trading halt…
Coronavirus pandemic fears fuel Wall St. correction
For the sixth straight session, Wall St.’s main indexes plummeted on Thursday, with the S&P 500 confirming its fastest correction in history…
Apple helps boost Dow as Fed holds rates steady
Apple today helped to boost the Dow Jones Industrial Average after posting stellar results. The Dow closed today up, the S&P 500 was up, and the Nasdaq was up…
U.S.-China trade deal, optimism power stocks to new record highs
Powered by optimism about the U.S.-China trade deal, as well upcoming earnings reports, Apple and other tech stock pushed Wall Street to record highs…
Dow, S&P 500, and Nasdaq close at record highs as Wall Street shrugs at Trump impeachment
Stocks set closing and intraday records Thursday even after the House of Representatives voted to impeach President Donald Trump…
Dow jumps 300 points on strong U.S. jobs report; Apple hits new all-time high
U.S. stocks soared Friday after a much better-than-expected employment report for November from the Labor Department which saw the economy create 266,000 new jobs…
U.S. and China move closer to trade deal despite harsh rhetoric
The U.S. and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase-one trade deal…
Stock futures jump after China’s upbeat comments on trade talks with U.S.
U.S. stock index futures jumped on Thursday as China sounded upbeat about its trade talks with the United States, calming investors…
Apple’s data shows a deepening dependence on China as Trump administration’s tariffs loom
Apple Inc’s dependence on China has not lessened by tapping factories in Brazil and India, the company’s supply chain data shows, raising the stakes as U.S. President Trump promises more tariffs…
Britain’s new leader Boris Johnson vows to get Brexit done
Boris Johnson, the ebullient Brexiteer who has promised to lead Britain out of the European Union with or without a deal by Halloween…
U.S. unemployment hits five-decade low as employers step up hiring, wages increase
Steady job growth and solid wage increases have enlarged Americans’ paychecks…
U.S. consumer spending surges to post biggest rise in more than 9-1/2 years
Plus, price pressures remained muted, with a key inflation measure posting its smallest annual gain in 14 months…
U.S. economy grows by 3.2% in the first quarter, topping expectations
The U.S. economy grew at a faster pace than expected in the first quarter and posted its best growth…
