Economic outlook

FILE - In this Nov. 23, 2020 file photo, stone sculptures adorn the New York Stock Exchange. Stocks are pulling lower again on Friday, Jan. 15, 2021, after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline. (AP Photo/Seth Wenig, File)
January 15, 2021 - 1:06 pm
NEW YORK (AP) — Stocks closed lower on Wall Street Friday, posting their first weekly loss after two weeks of solid gains. The S&P 500 fell 0.7%, with stocks of companies that most need a healthier economy taking some of the sharpest losses. The declines came as more reports showed how the...
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President-elect Joe Biden speaks about the COVID-19 pandemic during an event at The Queen theater, Thursday, Jan. 14, 2021, in Wilmington, Del. (AP Photo/Matt Slocum)
January 15, 2021 - 10:44 am
BALTIMORE (AP) — The $1.9 trillion rescue plan unveiled by President-elect Joe Biden offers the chance to sculpt the U.S. economy toward the Democrats’ liking: a $15 minimum wage, aid to poor families and federal dollars going to public schools. It’s an ambitious effort that would arrive after...
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A Wells Fargo office is shown, Wednesday, Jan. 13, 2021 in New York. Wells Fargo & Co. says its profit rose 4% to $2.99 billion in the fourth quarter of 2020. The bank, based in San Francisco, said Friday that it had earnings of 64 cents per share, compared with earnings of 60 cents a year earlier. (AP Photo/Mark Lennihan)
January 15, 2021 - 10:41 am
CHARLOTTE, N.C. (AP) — The pandemic and recession aren’t over by a long shot, but banks are feeling optimistic enough to start taking potentially “bad” loans off their books and move them back into the “good” pile. The financial performance of the big U.S. banks has improved from earlier in 2020,...
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FILE - This Monday, Nov. 23, 2020 file photo shows the New York Stock Exchange, right, in New York. U.S. stocks are ticking higher Thursday, Jan. 14, 2021, despite a dismal report on the number of layoffs sweeping the country. (AP Photo/Seth Wenig)
January 14, 2021 - 1:14 pm
A late slide in several Big Tech stocks left major indexes lower on Wall Street, even as small-company stocks marched to another record high. The S&P 500 turned lower in the last hour of trading to wind up with a loss of 0.4% Thursday. The benchmark index was weighed down by losses in Apple,...
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A currency trader passes by monitors showing the Korea Composite Stock Price Inde, and foreign exchange rate at the foreign exchange dealing room of a KB Kookmin Bank branch in Seoul, South Korea, Thursday, Jan. 14, 2021. Shares were mostly higher in Asia on Thursday after a lackluster day on Wall Street, where major indexes spent the day drifting up and down near their record highs. (AP Photo/Ahn Young-joon)
January 13, 2021 - 7:10 pm
Shares were mostly higher in Asia on Thursday after a lackluster day on Wall Street, where major indexes spent the day drifting up and down near their record highs. Benchmarks rose in Hong Kong, Tokyo and Sydney but fell in Shanghai. U.S. futures were trading slightly higher after the U.S. House of...
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FILE - In this Oct. 14, 2020 file photo, the American Flag hangs outside the New York Stock Exchange in New York. U.S. stocks are drifting close to their record heights Tuesday, Jan. 12, 2021, while Treasury yields keep marching higher amid expectations that the economy will pull out of its slump after a powerful recovery sweeps the globe later this year. (AP Photo/Frank Franklin II, File)
January 12, 2021 - 10:43 am
NEW YORK (AP) — U.S. stocks are drifting near their record heights Tuesday, while Treasury yields keep marching higher amid expectations that the economy will pull out of its slump after a powerful recovery sweeps the globe later this year. The S&P 500 was up less than 0.1% after flipping...
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FILE - This Nov. 23, 2020 file photo shows the New York Stock Exchange in New York. U.S. stocks are ticking higher on Friday, Jan. 8, 2021, despite a sober reminder of how many jobs the pandemic is destroying, as Wall Street keeps focusing more on the economy’s potentially brighter future than its current pain. (AP Photo/Seth Wenig)
January 08, 2021 - 1:09 pm
Stocks shook off a midday slump and powered higher in the afternoon, bringing major indexes to record highs and leaving the market with solid gains for the first week of the year. The S&P 500 added 0.5%. It rose 1.8% for the week. The Dow and Nasdaq also closed at record highs. Investors are...
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A "Now Hiring," sign is shown in the window of a restaurant, Thursday, Jan. 7, 2021, in Miami Beach, Fla. America's employers likely cut back on hiring last month, and may have even shed jobs, as the economy suffers from a resurgent virus that has caused many consumers to cut back on spending and states and cities to reimpose business restrictions. (AP Photo/Wilfredo Lee)
January 07, 2021 - 9:01 pm
WASHINGTON (AP) — America's employers likely cut back again on hiring last month — and might even have shed jobs — with the economy under pressure from a resurgent virus that has led many consumers to reduce spending and states and cities to reimpose business restrictions. Economists have forecast...
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FILE - In this Dec. 14, 2020 file photo, Zeida Hernandez, of Tampa, Fla., left, makes Factory Throwout cigars using an antique hand-operated cigar machine at the J.C. Newman Cigar Co., Tampa's last cigar factory, in Fla. American factories grew in December at the fastest pace in more than two years as manufacturing continued to weather the pandemic better than the battered services sector. (Douglas R. Clifford/Tampa Bay Times via AP)
January 07, 2021 - 7:16 am
WASHINGTON (AP) — The number of Americans seeking unemployment aid fell slightly last week to 787,000, a historically high number that points to a weak job market held back by the viral pandemic. Thursday's figure from the Labor Department, a slight decline from the previous week, shows that even...
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FILE - In this Nov. 16, 2020 file photo, a man wearing a mask passes the New York Stock Exchange, in New York. U.S. stocks are falling from their record highs Monday, Jan. 4, 2021, as trading gets underway in a year where the dominant expectation is for a powerful economic rebound to eventually sweep the world. (AP Photo/Mark Lennihan, File)
January 04, 2021 - 1:07 pm
U.S. stocks are closing lower Monday as big swings return to Wall Street to start a year when the dominant expectation is for a powerful economic rebound to sweep the world. The S&P 500 was 1.5% lower at the close after earlier dropping as much as 2.5%. The Dow Jones Industrial Average also...
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