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Business

Wall Street perks up; S&P 500 edges even closer to record

NEW YORK (AP) — Stocks are perking higher on Wall Street Thursday after a report showed the pace of layoffs across the country is slowing, though it remains incredibly high. The S&P 500 was up 0.6% in afternoon trading after spending much of the day waffling between smaller gains and ...

1.2 million seek jobless aid after $600 federal check ends

WASHINGTON (AP) — Nearly 1.2 million laid-off Americans applied for state unemployment benefits last week, evidence that the coronavirus keeps forcing companies to slash jobs just as a critical $600 weekly federal jobless payment has expired. The government’s report Thursday did offer a ...

AAA says that partially automated driving systems don’t always work

DETROIT (AP) — Two tests by AAA during the past two years show that partially automated driving systems don’t always function properly, so the auto club is recommending that car companies limit their use. Researchers with AAA recently tested systems from five manufacturers over a distance ...

Wall Street keeps rallying; S&P 500 back within 2% of record

NEW YORK (AP) — Wall Street’s big rally keeps rolling, and the S&P 500 rose for a fourth straight day Wednesday to sit just 1.7% below its record. The S&P 500 climbed 21.26 points, or 0.6%, to 3,327.77, echoing gains for stocks across Europe and Asia. If the U.S. market has just ...

Survey: US companies cut back sharply on hiring in July

WASHINGTON (AP) — U.S. businesses sharply reduced hiring last month, suggesting that resurgent COVID-19 infections slowed the economic recovery as many states closed parts of their economies again and consumers remained cautious about spending. U.S. firms added just 167,000 jobs in July, ...

Stocks tick higher on Wall Street, but Treasury yields sink

NEW YORK (AP) — U.S. stock indexes drifted higher Tuesday as Wall Street’s big rally eased off the accelerator. The S&P 500 rose 11.90 points, or 0.4%, to 3,306.51 after flipping between small gains and losses throughout the day. It’s the mildest move for the index in two ...

Ford COO Jim Farley to lead company, Hackett to retire

DETROIT (AP) — Jim Farley will lead Ford Motor Co. into the future as the global auto industry faces a new era of autonomous and electric vehicles. The company named Farley, 58, as its new CEO effective Oct. 1, replacing Jim Hackett, who will retire after three years at the helm. Farley, ...

Stocks rally worldwide, S&P 500 back to within 3% of record

NEW YORK (AP) — Stocks started August with more gains, and a worldwide rally on Monday sent Wall Street back to where it was just a couple days after it set its record earlier this year. The S&P 500 tacked 0.7% more onto its four-month winning streak, and Big Tech once again led the ...

Retail rout gains pace as Lord & Taylor seeks bankruptcy

NEW YORK (AP) — Lord & Taylor, America’s oldest retailer, is seeking bankruptcy protection, as is the owner of Men’s Wearhouse and Jos. A. Bank, lengthening the list of major retail chains that have faltered in the pandemic. Household names, many longtime anchors in malls ...

US construction spending declines 0.7%

SILVER SPRING, Md. (AP) — U.S. construction spending fell again in June, the fourth straight decline as the coronavirus outbreak continues to wreak havoc on the economy. Spending on U.S. construction projects fell 0.7% in June as both home building and nonresidential activity declined, the ...