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Stock futures rise slightly after Fed rate decision, Big Tech earnings loom

Finance
A cyclist passes by the New York Stock Exchange in New York, on May 26, 2020.Wang Ying | Xinhua News Agency | Getty ImagesU.S. stock futures rose on Wednesday night following a session in which the major averages posted solid gains as the Federal Reserve pledged to maintain current stimulative measures.Dow Jones Industrial Average futures climbed 18 points, or 0.1%. S&P 500 futures gained 0.1% and Nasdaq 100 futures advanced 0.2%.The Fed kept the overnight U.S. rate in a range between 0% and 0.25%. The central bank noted that while the economy has recovered slightly, activity and employment remain "well below their levels at the beginning of the year." Fed Chairman Jerome Powell added the central bank will keep an accommodative stance until the economy has "weathered" the effects of th...

Stock futures rise slightly after Thursday’s sharp sell-off

Finance
Brendan McDermid | ReutersU.S. stock futures rose on Thursday night after broad declines in the major tech names pushed the major averages lower during regular trading.The Dow ended Thursday's cash session down more than 1% along with the S&P 500. The Nasdaq Composite dropped more than 3% as Microsoft and Apple each lost more than 4%. Facebook and Amazon were both down more than 3% and Netflix lost 2.5%.Big Tech has been the market leader this year as investors grapple with the coronavirus pandemic and its impact on corporate profits. Amazon and Netflix were both up more than 47% year to date. Alphabet and Facebook are up over 13% in that time."Concerns of another technology bubble are rising," said Keith Lerner, chief market strategist at Truist/SunTrust Advisory, in a note. "There is...
Raghuram Rajan sounds a note of caution, says NPAs may see unprecedented rise in 6 months

Raghuram Rajan sounds a note of caution, says NPAs may see unprecedented rise in 6 months

Finance
NEW DELHI: Former RBI governor Raghuram Rajan on Tuesday said non-performing assets of the banking sector are likely to witness unprecedented increase in the next six months and the sooner the problem is recognised the better it would be. The outbreak of COVID-19 and subsequent lockdown to curb the spread of disease has hit businesses hard and many of them are facing difficulty in servicing debt. "The level of the NPAs is going to be unprecedented in six months from now if we really recognise the true level of NPAs...We are in trouble and sooner we recognise it, better it is because we really need to deal with the problem,” Rajan said during a session at the India Policy Forum 2020 organised by NCAER. Referring to the article titled Bold decisions, strong political will: Economic reforms a
Stock markets surge globally after China’s biggest daily rise since 2015

Stock markets surge globally after China’s biggest daily rise since 2015

Business
Global stock markets have surged despite rising clusters of coronavirus infections threatening to derail economic recovery.Investors took the lead from China's benchmark Shanghai Composite index, which jumped by 5.8% on Monday to record its biggest daily increase in five years. Analysts said the share spending spree was fuelled by cheap funding to invest in an economy that analysts predict will recover faster and better than other major countries battling new waves of infections. They include the US, the world's largest economy, which is enduring rising numbers of COVID-19 cases in 41 states, with Florida witnessing record daily growth in confirmed sufferers.Edward Moya, senior market analyst at OANDA in New York, said only a big acceleration in fatalities would likely affect market se...
The Latest: Texas has its biggest daily rise in virus cases

The Latest: Texas has its biggest daily rise in virus cases

Health
AUSTIN, Texas — Texas has reported its biggest daily increase in the number of confirmed coronavirus cases — 8,258. Hospitalizations also continue to climb. Much of Texas began mandating face coverings Friday on the orders of Gov. Greg Abbott. The mask order carries a $ 250 fine. The order is the most dramatic about-face that Abbott has made as he retreats from what stood out as one of America’s swiftest reopenings. Texas health officials on Saturday said the state’s total number of confirmed coronavirus cases is now at 191,790. State health officials also reported 33 additional deaths linked to COVID-19, the disease caused by the virus. That brings Texas’ total to 2,608 deaths. Hospitalizations stood at 7,890 on Saturday, an increase of 238 from Friday. ——— HERE’S WHAT YOU NEED TO KNO