This article was published more than 2 years agoCommentGift ShareInvestors looked past weeks of grim economic news to power Wall Street to its best month in decades, even as the three major U.S. indexes ended Thursday’s session in the red.The Standard & Poor’s 500 posted its strongest one-month returns since 1987, at a time when the nation’s economy shriveled and 30 million jobs were lost amid the coronavirus pandemic. The gains came even as covid-19 deaths surpassed 60,000 on Thursday.The broad index closed out April roughly 12 percent higher than it started. The blue-chip Dow...…This article was published more than 2 years agoCommentGift ShareInvestors looked past weeks of grim economic news to power Wall Street to its best month in decades, even as the three major U.S. indexes ended Thursday’s session in the red.The Standard & Poor’s 500 posted its strongest one-month returns since 1987, at a time when the nation’s economy shriveled and 30 million jobs were lost amid the coronavirus pandemic. The gains came even as covid-19 deaths surpassed 60,000 on Thursday.The broad index closed out April roughly 12 percent higher than it started. The blue-chip Dow...WW…

This article was published more than 2 years agoCommentGift ShareInvestors received a reality check Wednesday on what happens when the world’s biggest economy comes to a near stop. A series of wrenching numbers on retail sales, oil prices and bank profits knocked a stock rally off its tracks and hit the pause button on investor optimism.The Dow Jones industrial average was in the red all day, closing down 445 points, or nearly 1.9 percent, to finish at 23,504. The Standard & Poor’s 500 index fell 2.2 percent to 2,783, and the Nasdaq composite slid 1.4 percent to wind up at 8,393....…This article was published more than 2 years agoCommentGift ShareInvestors received a reality check Wednesday on what happens when the world’s biggest economy comes to a near stop. A series of wrenching numbers on retail sales, oil prices and bank profits knocked a stock rally off its tracks and hit the pause button on investor optimism.The Dow Jones industrial average was in the red all day, closing down 445 points, or nearly 1.9 percent, to finish at 23,504. The Standard & Poor’s 500 index fell 2.2 percent to 2,783, and the Nasdaq composite slid 1.4 percent to wind up at 8,393....WW…

This article was published more than 3 years agoCommentGift ShareMcClatchy, one of the nation’s largest newspaper publishers, filed for bankruptcy protection Thursday, another harbinger of America’s deepening local-news crisis.The Chapter 11 filing will allow the Sacramento-based company to keep its 30 newspapers afloat while it reorganizes more than $700 million in debt, 60 percent of which would be eliminated. If the plan wins court approval, control of the 163-year-old family publisher would be turned over to hedge fund Chatham Asset Management, its largest creditor. The company has...…This article was published more than 3 years agoCommentGift ShareMcClatchy, one of the nation’s largest newspaper publishers, filed for bankruptcy protection Thursday, another harbinger of America’s deepening local-news crisis.The Chapter 11 filing will allow the Sacramento-based company to keep its 30 newspapers afloat while it reorganizes more than $700 million in debt, 60 percent of which would be eliminated. If the plan wins court approval, control of the 163-year-old family publisher would be turned over to hedge fund Chatham Asset Management, its largest creditor. The company has...WW…

This article was published more than 2 years agoCommentGift ShareThis article is free to access.Why?The Washington Post is providing this news free to all readers as a public service.Follow this story and more by U.S. markets wrapped up one of their messiest-ever weeks Friday, recording their worst finish since the 2008 financial crisis. The Standard & Poor’s 500 tumbled 15 percent from where it began Monday, with stocks wrenched all week in hourly spasms as investors tried to fathom where the coronavirus will eventually leave the U.S. economy.The craziness ran right up to the...…This article was published more than 2 years agoCommentGift ShareThis article is free to access.Why?The Washington Post is providing this news free to all readers as a public service.Follow this story and more by U.S. markets wrapped up one of their messiest-ever weeks Friday, recording their worst finish since the 2008 financial crisis. The Standard & Poor’s 500 tumbled 15 percent from where it began Monday, with stocks wrenched all week in hourly spasms as investors tried to fathom where the coronavirus will eventually leave the U.S. economy.The craziness ran right up to the...WW…