There are several reasons the stock market could see another steep selloff. Its recent speedy recovery is evidence that investors should stay the course.
The U.S. Transportation Department said Friday it will allow Chinese passenger air carriers to operate two flights after Beijing said it would ease coronavirus restrictions to allow in more foreign carriers.
The U.S. economy unexpectedly added jobs in May after suffering record losses in the prior month, offering the clearest signal yet that the downturn triggered by the COVID-19 pandemic was probably over, though the road to recovery could be long.
A stand-off between airplane manufacturers and airlines over the coronavirus crisis is intensifying after Airbus signalled it would sue airlines that refuse to honour contracts.
Marriott International, the only U.S. company to run a hotel in Communist-run Cuba, the Four Points Sheraton in Havana, told Reuters it had been ordered by the Trump administration to wind down its operations by August 31.
U.S. stock indexes jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, on hopes of a faster economic rebound from a coronavirus-led slump after data showed surprise job additions in May.
The U.S. economy added 2.5M jobs in May as the U.S. economy reopened businesses shuttered by the coronavirus pandemic. 8 million job losses were forecast.
