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The coronavirus has infected more than 5.71 million people around the world as of Thursday, killing at least 356,124 people.
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 U.S. President Donald Trump is expected to order a review of a law that has long protected internet companies, including Twitter and Facebook, an extraordinary attempt to intervene in the media that experts said was unlikely to survive legal scrutiny.
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Expanded unemployment benefits offered through the Pandemic Unemployment Assistance program are reaching nearly 8 million Americans, about 25% of all recipients.
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 Many car dealerships had already adapted to some sales online, but few had offered home delivery prior to COVID-19 shutdowns. Here's what is changing.
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 Between March and April, contract signings for home purchases dropped over 21%.
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 * Markets ignore U.S.-China tensions for now
(Updates to market close)
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A conversation about the latest market-moving news, including the upcoming jobless claims data and China passing a controversial Hong Kong bill.
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 Stocks inch up as investors shrug off Hong Kong tension, latest job destruction
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Canada's main stock index opened higher
on Thursday on hopes that the easing of lockdowns across the
world would put the global economy back on track.
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Hong Kong Security Plan Is Approved, Tightening China's Hold The New York TimesPompeo says Hong Kong is no longer autonomous from China, jeopardizing billions of dollars in trade CNNDollar stands its ground as Hong Kong tensions weigh CNBCWill President Trump Stand With Hong Kong? The New York Times
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Analysts warn that any US measures would have a ‘chilling effect' on business activity
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The number of Americans
seeking jobless benefits fell for an eighth straight week last
week, likely as some people returned to work, but claims
remained at astonishingly high levels, suggesting it could take
the economy a while to rebound as businesses reopen.
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 Try this trade on for size amidst the brewing battle between President Trump and social media companies.
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An executive order President Trump is expected to sign on Thursday would seek to limit the broad legal protection that federal law provides to social-media and other online platforms.
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From China's perspective, the punitive measures on trade, technology and Hong Kong have simply revealed the core of American hostility.
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The number of Americans filing for unemployment benefits held above 2 million last week for a 10th straight week amid job cuts by U.S. state and local governments whose budgets have been decimated fighting the COVID-19 pandemic and more second-wave layoffs in the private sector.
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Trump tweets condolences for 100,000 dead from coronavirus amid morning tweetstorm CNNView Full Coverage on Google News
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The coronavirus pandemic has propelled union efforts among essential workers in the Chicago area.
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Canada's main stock index struggled for
direction on Thursday as investors weighed a slide in energy
stocks and rising U.S.-China trade tensions against hopes of an
economy recovery as countries reopened more businesses.
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 Stocks were mixed Thursday morning amid a deluge of new economic data, much of which was still consistent with a contraction but at least signaled some stabilization after an initial slump in activity.
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2020-05-28 0001752724-20-107371 364 KB
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 Shares of General Electric Co. pulled back 2.9% in midday trading, after running up 13.7% over the past two sessions, as the industrial conglomerate provided an update on its business at analysts conference. The selloff reverses and earlier intraday gain of as much as 2.7% soon after the opening bell. Chief Executive Larry Culp said at the Bernstein Strategic Decisions Conference that second-quarter free cash flow (FCF) was expected to be negative $3.5 billion to $4.5 billion, according to report in The Wall Street Journal. That follows negative FCF of $2.2 billion in the first quarter. In the post-earnings conference call with analysts on April 29, Chief Financial Officer Carolina Dybeck Happe said looking forward, she expected "continued free cash flow pressure," according to a FactSet transcript. Culp also said Thursday at the Bernstein conference that business in its Aviation segment remained slow, and expects increased costs in the "hundreds of millions" in the second quarter as the value of long-term service contracts are reduced, as they are now expected to be less profitable, the WSJ report said. GE's stock has slumped 35.0% over the past three months, while the Dow Jones Industrial Average has gained 1.3%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Take a look at the companies making headlines in midday trading.
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General Electric Co on Thursday
warned 2020 free cash flow would be negative as it struggles
with weakness in its aviation and power units due to the
coronavirus outbreak, sending its shares 3% lower.
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Prime Minister Boris Johnson announced measures to further ease lockdown in England at a press conference on Thursday
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China will be out of the market
for U.S. chicken in June as it recovers from the coronavirus
pandemic, in a reversal from a recent surge of imports, the
president of American poultry company Sanderson Farms Inc
said on Thursday.
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Oil futures rose on Thursday, erasing earlier losses, on signs U.S. gasoline demand is rising despite a big surprise build in crude inventories and worries that China's new Hong Kong security law could result in trade sanctions.
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The U.S.-listed shares of British Airways parent International Consolidated Airlines Group S.A. fell 1% in morning trading Thursday, after Moody's Investors Service downgraded British Airways's credit rating to "junk" status, citing expectations that the airline industry will remain "deeply constrained" this year and next given the "increasing duration and severity" of the coronavirus pandemic. The airline's rating was lowered to Ba1 from Baa3, which was the lowest investment grade rating. The outlook for the rating is negative, which warns of further potential downgrades. Moody's said it doesn't expect passenger volumes for the airline industry to recover to 2019 levels until 2023, "at the earliest." The stock has tumbled 63.3% year to date, while the U.S. Global Jets ETF has dropped 50.5% and the S&P 500 has lost 5.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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N.Y. City Council to Push Plan for Outdoor Dining: Live Updates The New York TimesDe Blasio warns of New York City's multibillion-dollar deficit amid coronavirus, pleads for aid Fox NewsL.A. Mayor Announces Reopening Of Churches, More Retail | NBC News NOW NBC NewsChicago releases plan for reopening restaurants, leaving NYC in the dust New York Post After the Covid Apocalypse T
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Abercrombie & Fitch said its sales tanked 34% during the first quarter as its stores were forced shut during the coronavirus pandemic.
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New York Gov. Andrew Cuomo announced an executive order Thursday to authorize businesses to deny entry to people who are not wearing masks or face coverings.
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The top three U.S. airlines, hit hard by the coronavirus pandemic, are rolling out fresh programs to induce tens of thousands of employees to accept voluntary leave or early retirement in the hope of avoiding widespread furloughs in the fall, company memos show.
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New York Governor Andrew Cuomo said he would sign an executive order on Thursday authorizing businesses to deny entry to anyone who does not wear a mask or face covering, stressing masks were critical to preventing the spread of the novel coronavirus.
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 (Bloomberg) -- South Korea reported its biggest spike in new coronavirus cases in almost two months, raising concern about a second wave of infections. Small clusters also emerged in several locations in Japan in its first week since the emergency was lifted.U.S. states' jobless rolls shrank for the first time during the pandemic in a sign people are starting to return to work. President Donald Trump issued a tweet acknowledging the "very sad milestone" after 100,000 Americans died of Covid-19, the most in the world.Cases continued to soar in Brazil, and the U.K.'s tracing program was hit by technical problems on the day of its launch.Roche's immune suppressor Actemra will be paired with Gilead's antiviral remdesivir in a late-stage trial of a drug combination, while GlaxoSmithKline said it will produce 1 billion doses of a vaccine adjuvant -- a booster that can help any brand of shot -- to support immunization against the pandemic.Key Developments:Virus Tracker: Cases top 5.7 million; deaths over 356,000Why New York suffered when other cities were sparedLatin America now accounts for 40% of daily virus deathsA radical plan and $2.6 trillion bring Europe back from abyssDisney's Florida theme parks expected to reopen in JulyHow can I get it? The evidence on transmission: QuickTakeSubscribe to a daily update on the virus from Bloomberg's Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus. For a look back at this week's top stories from QuickTake, click here.Cuomo Expan
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Impulse purchases - gum, mints
and snack bars tossed into a shopping basket as one snakes
through the supermarket checkout line - are falling as more
people get groceries delivered or pick them up curbside.
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Protests over death of George Floyd continue to roil Minneapolis, and beyond The Washington PostDeadly shooting near George Floyd protest as looting, arson grip Minneapolis Fox NewsProtests, looting erupt in Minneapolis over racially charged killing by police Yahoo News'Unbelievable devastation': 1 dead as Floyd protests boil over again Minnesota Public Radio NewsWe Refuse To Call It Murder, But How Else Do You Explain The Killing Of George Floyd?
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Impulse purchases - gum, mints
and snack bars tossed into a shopping basket as one snakes
through the supermarket checkout line - are falling as more
people get groceries delivered or pick them up curbside.
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 April decline in U.S. pending home sales is biggest ever recorded
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General Motors and Ford Motor are using fast-payment programs set up with financial lenders to help cash-strapped small suppliers survive production shutdowns caused by the coronavirus pandemic.
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US airline foreshadows further cuts after taking $5.8bn of government funds to preserve jobs until September
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 Keeping small suppliers afloat financially is critical for the automakers as they try to restart North American factories and generate cash from sales of large pickup trucks, crossovers and SUVs.
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FT's Jamil Anderlini explains why Hong Kong could be about to change forever
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British low cost airline easyJet said it planned to cut up to 30% of its staff, or 4,500 jobs, and shrink its fleet, to fit the smaller market that will emerge from the coronavirus pandemic.
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2020-05-28 0001564590-20-027210 495 KB
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The U.S. economy's first-quarter contraction was slightly steeper than initially estimated, and a key measure of corporate profits weakened as coronavirus-related shutdowns began to come into effect.
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U.S. corporate profits fell 13.9% in the first quarter, the biggest drop since the Great Recession, the Commerce Department said Thursday
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Citigroup Inc looks to return a small number of staff to its New York headquarters in July or possibly August, with workers reentering its London offices possibly even earlier, Chief Executive Officer Michael Corbat told Bloomberg News in an interview.
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 President Trump will sign an executive order on Thursday, cracking down on social media platforms Facebook and Twitter. FCC Commissioner Brendan Carr joins Yahoo Finance's On The Move to discuss.
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J.C. Penney Co. Inc. will reopen an additional 150 stores across 27 states on Thursday, bringing the total number of stores back in operation after a temporary closure due to the coronavirus pandemic to 304. The bankrupt department store retailer plans to have 500 stores open by June 3. J.C. Penney is taking precautions to prevent the spread of COVID-19, including staggered work shifts for associates and enhanced cleaning procedures. There are special shopping hours, Wednesday and Friday from 11 a.m. to noon, for senior citizens and others who are at-risk or have underlying health concerns. J.C. Penney filed for bankruptcy protection on May 15. Shares have lost 80% of their value over the past year while the S&P 500 index has gained 8.3%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Orders for durable goods drop sharply in April, the government says Thursday, offering a fresh sign of how the coronavirus crisis has hammered the U.S. economy.
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Economies are returning to life, but at different paces around the world and with varying degrees of damage to their economies and societies.
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High borrowing costs will limit participation in a $500 billion U.S. Federal Reserve short-term borrowing program set up to address state and city revenue shortfalls due to the economic fallout from the coronavirus outbreak, analysts said.
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Stocks rolled higher for the second day in a row as the economy continued its slow return to life amid hopes for more federal stimulus and scientific advances against the coronavirus.
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