U.S. President Donald Trump on Monday told reporters his longtime friend and adviser Roger Stone "wasn't given a fair trial" and said "we're getting rave reviews" for giving executive clemency to Stone.
The S&P 500 ended lower Friday after a choppy session as investors weighed spiking cases of COVID-19 and Apple's announcement of fresh store closures against anticipated stimulus and continued economic recovery. Fred Katayama reports.
U.S. retail sales increased by the most on record in May after two straight months of sharp declines as businesses reopened, offering more evidence that the recession was over or drawing to an end. Fred Katayama reports.
The Trump Administration is pushing to reopen schools in the fall of 2020. Business Insider reports the US is dealing with record spike in cases of the novel coronavirus. Education Secretary Betsy Devos on Sunday doubled down on the Trump administration's position. "There is going to be the exception to the rule. But the rule should be that kids go back to school this fall." Children are at low risk of serious illness and death from COVID-19.
President Donald Trump said "99%" of coronavirus cases in the US are "totally harmless." Dr. Anthony Fauci is the nation's top infectious-disease expert. Fauci said Trump's claim is "false." "I'm trying to figure out where the president got that number," Fauci said in a Financial Times interview published Friday. Business Insider reports that there is overwhelming evidence of COVID-19's effects contradicts Trump's statement.
Business Insider reports that Walgreens has halted its share buyback program. The pharmacy chain revealed it plans to cut 4,000 jobs after reporting worse-than-expected third-quarter figures. The drugstore giant lost $1.95 per share over the period. Thats $1.71 billion overall. The company's Boots UK division saw same-store sales nosedive 48% over the period. The reason? Walgreens says quarantine orders "compelled consumers to consolidate shopping into grocers.
Netflix is on the verge of reporting a blockbuster second quarter earnings report, according to Goldman Sachs. Business Insider reports that Goldman Sachs is basing their judgement on strong app download trends On Friday, Goldman raised its Netflix price target to $670, representing upside potential of 32% from Thursday's close. The firm said COVID-19 continues to accelerate the trend towards video streaming services. Goldman Sachs said Netflix is a prime beneficiary of that trend.
Business Insider reports that Chelsea Clinton is forming her own venture capital firm. The firm will be called Metrodora Ventures. It was registered in April and has its own Twitter account. Clinton hasn't decided whether to commit to the firm full-time, Axios reports. On Twitter, Metrodora Ventures describes itself as "a values conscious venture capital firm focused on health and learning businesses.
[NFA] State election officials face budget cuts after tax revenues plunged in the virus-stricken economy, with consequences that could undermine voters’ faith in the polls. This report produced by Zachary Goelman.
U.S. stock index futures dropped when electronic trading resumed on Sunday. Reuters reports trade relations between the US and China hit a new low on Friday, sending Wall Street into a selling frenzy...