Finance

This is Wednesday’s Federal Open Market Committee statement after the latest Fed meeting. Given the unprecedented circumstances brought on by the coronavirus crisis, as well as the Fed’s extensive actions to mitigate the pandemic, the central bank has issued statements with more frequency and variance than typical. The Fed issued three statements in March alone.
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An employee assembles an excavator at the Caterpillar Inc. manufacturing facility in Victoria, Texas. Callaghan O’Hare | Bloomberg | Getty Images Caterpillar experienced a sales drop in the first quarter as the coronavirus pandemic disrupted demand for construction and mining. The industrial giant on Tuesday reported revenues of $10.6 billion in the first quarter, a 21%
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HSBC building in the Canary Wharf district of London, U.K. Leon Neal | AFP | Getty Images HSBC, Europe’s largest bank, is expected to release its first-quarter financial report card today — and some investors said they’re anticipating a “dramatic” fall in earnings due to the coronavirus pandemic. The London-headquartered bank derives the bulk of its
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Charging Bull Statue is seen at the Financial District in New York City, United States on March 29, 2020. Tayfun Coskun | Anadolu Agency | Getty Images Stocks futures fell slightly on Sunday night, following oil prices lower, while investors assessed the possibility of re-opening the global economy after the coronavirus outbreak. Dow Jones Industrial Average
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A driver adjusts his face mask as Uber and Lyft drivers with Rideshare Drivers United and the Transport Workers Union of America conduct a ‘caravan protest’ outside the California Labor Commissioner’s office amidst the coronavirus pandemic on April 16, 2020 in Los Angeles, California. (Photo by Mario Tama/Getty Images) Mario Tama Some gig workers may
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Comstock | Stockbyte | Getty Images “Scary,” “unbelievable,” “so dramatic,” “unprecedented,” “very visceral”: These are among the choice words Wall Street veterans used to describe what was, for the oil market, a week for the history books. On Monday, for the first time on record, West Texas Intermediate (WTI), the U.S. oil benchmark, plunged below
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A customer browses products at a Walmart store in Burbank, California Patrick T. Fallon | Bloomberg | Getty Images U.S. consumer sentiment fell for a third straight month as people weigh the coronavirus pandemic and the possibility of an economic re-opening, data released Friday by the University of Michigan showed. The consumer sentiment index fell
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A view of baggage claim at the United Airlines terminal at Los Angeles International Airport (LAX) during the outbreak of the novel coronavirus, which causes COVID-19, April 16, 2020, in Los Angeles. VALERIE MACON It’s clear that Americans have slowed their spending drastically as many industries essentially grind to a halt amid the coronavirus pandemic and
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