S&P 500, Dow Erase Early-Year Losses
U.S. stocks rose, with the Standard & Poor’s 500 index turning positive for 2016 in the wake of a dovish Federal Reserve that helped the gauge post its longest weekly winning streak since November. The equity benchmark joined the Dow Jones Industrial Average to advance for the year, staging one of the biggest turnarounds in history. The Dow surged 12 percent in 24 days through Thursday, boosted by seven separate daily advances...
Jobs Numbers Help to Dispel Recession Fear
Washington — A robust February jobs report showcased a resilient U.S. economy just as fears of a new recession had begun to surface. Economic reports in recent weeks had fueled anxieties about a looming downturn: Manufacturers were slumping. Stocks had plummeted. China was slowing sharply along with other emerging markets. The rising dollar had crushed exports. But last month, U.S. employers sent a clear message of confidence. They...
Stocks Soar to Finish A Tough Month
New York — Stocks soared on the last trading day of January, with Microsoft, Visa and other tech stocks making the biggest gains in a broad market rally Friday. Indexes rose throughout the day and finished with their biggest gains in about five months. Asian stocks jumped after the Bank of Japan moved to stimulate the economy, and European markets also rose. In the U.S., tech stocks climbed following strong quarterly results from...
All-Day Breakfast Helps McDonald’s Reverse Slump
Turns out that an Egg McMuffin for lunch hit the spot at McDonald’s. The fast-food giant’s decision this fall to offer breakfast items all day in the U.S. market is one reason why McDonald’s is ending 2015 on a notable upswing after starting the year in a deep slump. Under the guidance of Steve Easterbrook, who took over as McDonald’s chief executive in March, the chain’s U.S. comparable-store sales — that is, sales at restaurants...
Jobs Data Provide Mixed Signals
Washington — Employers added a disappointing 173,000 jobs in August but the blow was softened by the equally unexpected drop of the unemployment rate to 5.1 percent. That’s the best reading on unemployment since March 2008, but there were plenty of mixed signals in the report released Friday by the Bureau of Labor Statistics. Here are three important points from the jobs report and what they signal for the U.S. economy: Outlook for...
