Coronavirus
US Diesel Stockpiles Swell as Global Fuel Demand Falters
The world’s appetite for U.S. diesel is falling, leaving stockpiles of the fuel at their highest level since early October.
Schumer Asks Biden to Push for More Than $1.3 Trillion Stimulus
Incoming Senate Majority Leader Chuck Schumer has pressed President-elect Joe Biden to propose more than $1.3 trillion in spending for his initial round of COVID-19 relief, according to a person familiar with the matter.
COVID-19 Vaccine Key to Restoring Economic Stability, Experts Say
The incoming Biden administration faces a U.S. economy that appears to be slowing as COVID-19 cases surge.
Saudis Curb Oil Supply to Some Buyers After Vow to Pump Less
Saudi Arabia reduced crude oil supplies to at least 11 refiners in Asia and most buyers in Europe after the kingdom volunteered to cut its production by 1 million barrels a day for February and March.
US Core Consumer-Price Gauge Cools Slightly From Prior Month
A key measure of prices paid by U.S. consumers cooled in December from a month earlier as slack in the labor market and muted demand helped keep inflation pressures tame.
Oil Dips Below $52 With Dollar Rising as Rally Takes Breather
Oil fell as the dollar strengthened, with the steam coming out of a rally that pushed crude to the highest level in 10 months.
Biden’s Go-Big Stimulus Plans Will Test Closely Divided Senate
President-elect Joe Biden’s plan to pass a multitrillion-dollar economic stimulus package early in his administration faces challenges in a closely divided U.S. Senate, with a potential impeachment trial for Donald Trump that could add to delays.
January 11, 2021Trucking Jobs Gain in December Outweighed by Wider Labor Trouble
The U.S. labor market lost jobs in December for the first time in eight months, yet transportation-related businesses showed solid growth, the Labor Department said Jan. 8.
Initial Jobless Claims Remain Elevated Heading Into 2021
Applications for U.S. state unemployment benefits were little changed at elevated levels in the final week of 2020, indicating the labor market remains battered with the pandemic dragging on.
US Trade Gap Widened to Second Biggest on Record in November
The U.S. trade deficit widened to the second largest on record in November as merchandise imports reached a more than one-year high in the midst of the holiday shopping season, causing the shortfall in goods to climb to the highest yet.