Markets
Alabama Labor Department launches tool to track unemployment claim status
Despite the nationwide drop, unemployment claims in NY jumped last week to an unadjusted 395,949 from 344,451 the prior week, the feds' report shows. While the 5.2 million claims in the week ended 11 April was down from 6.6 million the previous week, those numbers still eclipse prior records and economists warn that elevated numbers will linger. [Full Article...]
State to Coordinate Reopening Economy
Stocks sink 4% as Dow closes in bear market
Here's an attempt to answer some questions you may have. The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, spiked 29.85 percent to 54.46 on Monday. Oil prices rebounding from Monday's massive price drop. The S&P 500 Energy Sector index fell 20 percent on Monday alone. "In 1980, lower oil prices were good for the U.S.", said Jeffrey Pontiff, a professor ... [Full Article...]
Dow falls 1,400 points as pandemic fears end 11-year bull run
The S&P 500 slid 2.8%, while the Nasdaq dropped 2.4%. The S&P 500 - a proxy for retirement accounts and college savings plans - fell 4.89 percent, while the Nasdaq Composite Index finished down 4.7 percent. In his first remarks since Monday's deep markets decline, billionaire investor Warren Buffett said the selloff wasn't as bad as some other famous moments in history, such as in October 1987 o... [Full Article...]
Unemployment Hits Record High as 5.3 Million Workers File Jobless Claims
The agency rolled out the tool the same day it reported 77,515 initial unemployment claims were filed last week , including 71,374 filed due to jobs lost because of the coronavirus pandemic. U.S. stock index futures jumped as investors focused on the second straight weekly drop in claims. States and local governments have issued "stay-at-home" or "shelter-in-place" orders affecting more than 90... [Full Article...]
Coronavirus: Weekly jobless claims hit 5.2 million
Nationally, seasonally adjusted initial unemployment insurance claims also declined significantly from last week to 5.245 million for the week of April 5 to April 11, according to the U.S. The state's stay-at-home order that closed all non-essential businesses has already been extended once and is now in place through May 4. They say a historic $2.3 trillion fiscal package, which made provision... [Full Article...]
Questions arise as Kansans start to receive stimulus payments
Confusion arises because some people are not required to pay taxes each year - and the IRS has said it will look at adjusted gross income listed on federal tax returns in order to determine which individuals and couples should be awarded a benefit. [Full Article...]
Amazon Fires Three More Employees Who Criticized Working Conditions
At the very least, the optics are less than ideal, as Amazon has struggled to maintain its delivery service amid a widespread shutdown. In a short statement, Amazon spokesman Drew Herdener claimed that Cunningham and Costa were fired for "repeatedly violating internal policies". [Full Article...]