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Spokane, Washington  Est. May 19, 1883
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S&P 500 adds to record, Dow heads for own on vaccine hopes

Stocks were rallying again Monday, with the S&P 500 adding more to its record high and the Dow Jones Industrial Average on track to erase the last of its pandemic losses, following another round of encouraging data on a possible coronavirus vaccine.

U.S. consumer spending rose a moderate 1.4% in September

U.S. consumers increased their spending by 1.4% in September, a modest gain but far less than the big increases of late spring, adding to concerns that Americans remain cautious with the viral pandemic resurging across the country and impeding the economy.

Surge in virus threatens to reverse global economic rebounds

The resurgence of coronavirus cases engulfing the United States and Europe is imperiling economic recoveries on both sides of the Atlantic as millions of individuals and businesses face the prospect of having to hunker down once again. Growing fear of an economic reversal coincided with a report Thursday that the U.S. economy grew at a record 33.1% annual rate in the July-September quarter. 

Report showing gains in bank access overshadowed by COVID-19

 More Americans than ever obtained a basic bank account in 2019, the Federal Deposit Insurance Corp. said Monday. But data was gathered before the outbreak of the coronavirus pandemic and start of this historic recession.

US industrial production fell a sharp 0.6% in September

U.S. industrial production fell 0.6% in September, the weakest showing since spring and a sign that the economy’s recovery from the pandemic recession may be faltering just as confirmed viral infections are resurging in much of the country.

IMF warns global economy could be permanently scarred

The global economy's recovery from the pandemic recession is tentative and uneven and “marked by significant uncertainty” as confirmed coronavirus cases spread in many countries, international finance ministers warned Thursday.

U.S. jobless claims rise to 898,000 with layoffs still high

WASHINGTON – The number of Americans seeking unemployment benefits rose last week by the most in two months, to 898,000, a historically high number and evidence that layoffs remain a hindrance to the economy’s recovery from the pandemic recession.