Wall Street falls on dour economic data, corporate earnings

U.S. stocks fell with dismal economic data and first-quarter earnings reports serving as a reminder of the economy’s sharpest downturn in decades

J.C. Penney Co Inc shares dropped 27.3% as sources said the retailer was exploring filing for bankruptcy protection after the virus outbreak upended its turnaround plans.

The biggest U.S. health insurer UnitedHealth Group Inc rose 4.1% as it maintained its 2020 profit outlook at a time when major companies have withdrawn forecasts due to the coronavirus pandemic.Volume on U.S. exchanges was 10.95 billion shares, compared to the 14.28 billion average for the full session over the last 20 trading days.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street analysts turned very bullish on these stocks during the pandemic market turmoilFor subscribers: Wall Street analysts turned very bullish on these stocks during the pandemic market turmoil Check out CNBCPro and get your first 7 days free.
Read more »

Wall Street jumps as hopes for easing lockdown offset earnings worryU.S. stocks jumped on Tuesday as optimism that the Trump administration could move to ease lockdowns from the coronavirus outbreak overshadowed worrying earnings reports from JPMorgan and Wells Fargo.
Read more »

Goldman Braces for Loan Losses, But Its Wall Street Arm ShinesThe bank’s profit fell 46% in the first quarter, a three-month stretch when the coronavirus pandemic battered markets, companies and investors hoarded cash and the U.S. economy ground to a halt.
Read more »

The definitive collection of top Wall Street stock picks as coronavirus ravages markets - Business InsiderThese lists of stock picks come from Wall Street titans like Goldman Sachs, Morgan Stanley, and Bank of America.
Read more »

'Sesame Street' Airing A Coronavirus Special To Comfort Kids'Elmo's Playdate' will feature Muppets and celebrity guests Anne Hathaway, Lin-Manuel Miranda and Tracee Ellis Ross.
Read more »

13 Best Mirror Sunglasses For Your Street-Style Snaps 2020 / 2021 » Fashion Allure13 Best Mirror Sunglasses For Your Street-Style Snaps bbloggers fbloggers fashionblogger fashionaddict fashiondiaries fashionista styleinspo fashionblog inspo
Read more »