rudi_suardi For the most part, Americans spent very little during the pandemic — up until now. On Tuesday, May retail sales shattered expectations, jumping 17.7% in the biggest monthly surge ever. President Donald Trump was quick to post on the news. Nearly half of all consumers had said they were […]
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Stocks cut gains, Dow still 200 points higher
Stocks rose on Tuesday as a record jump in retail sales — coupled with positive trial results from a potential coronavirus treatment and hopes of more stimulus — sent market sentiment soaring. The Dow Jones Industrial Average traded more than 200 points higher, or 0.8%. The S&P 500 gained 0.8% […]
Scientists hail dexamethasone as ‘major breakthrough’ in treating coronavirus
BSIP | UIG | Getty Images Dexamethasone, a cheap and widely used steroid, has become the first drug shown to be able to save lives among Covid-19 patients in what scientists hailed as a “major breakthrough”. Results of trials announced on Tuesday showed dexamethasone, which is used to reduce inflammation […]
Homebuilder sentiment posts biggest monthly surge ever, a sign housing is rebounding from coronavirus
Construction workers install frames for windows and doors in a home being built in Bloomfield Hills, Michigan, on Thursday, May 7, 2020. Emily Elconin | Bloomberg via Getty Images A faster-than-expected turnaround in homebuyer demand, following a sharp drop-off at the start of the coronavirus pandemic, has the nation’s homebuilders […]
Dow rallies 800 points after record retail sales jump, positive news on potential virus treatment
Stocks surged on Tuesday as a record jump in retail sales — coupled with positive trial results from a potential coronavirus treatment and hopes of more stimulus — sent market sentiment soaring. The U.S. government reported a record 17.7% increase in retail sales for May. Economists polled by Dow Jones […]
Steroid dexamethasone reduces deaths among patients with severe Covid-19, trial shows
BSIP | UIG | Getty Images Giving low doses of the generic steroid drug dexamethasone to patients admitted to hospital with Covid-19 reduced death rates by around a third among those with the most severe cases of infection, trial data showed on Tuesday. The results, described as a “major breakthrough” […]
U.S. May retail sales surge 17.7% in the biggest monthly jump ever
Retail sales shattered already-lofty expectations for May as consumers freed from the coronavirus-induced lockdowns began shopping again. The 17.7% headline gain including food sales easily topped the previous record from October 2001 and beat the 8% estimate from economists surveyed by Dow Jones. Retail sales alone powered 16.8% higher from […]
The coronavirus-fueled tech trends that will continue to dominate daily life
Ariel Skelley Coronavirus hasn’t just shut down huge swaths of American business and sent many employees scrambling to work from home — it’s also driving the acceleration of technological adoption. As people adapt to new modes of life, start-up businesses that enable us to work, study, shop, and interact virtually […]
EU launches anti-trust probes into Apple’s App Store and Apple Pay
EU Commissioner for Competition Margrethe Vestager addresses a press conference on two state aid cases at the European Commission in Brussels on October 4, 2017. Emmanuel Dunand | AFP | Getty Images The European Commission announced Tuesday that it’s launching two antitrust investigations into Apple‘s App Store rules and the […]
How Stripe, CNBC’s No. 1 Disruptor 50 company, helped keep the U.S. economy afloat during pandemic
George Kavallines The Covid pandemic has upended the world’s economy. But for Stripe and the digital economy, the virus was somewhat of an opportunity: Shelter-in-place and social distancing measures sparked a shift to online commerce that otherwise would have taken years. “There has been a very sharp move from the offline […]