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Oil headed for its biggest monthly drop since March as renewed lockdown measures to contain the coronavirus threatened to upend a shaky demand recovery.

Exxon Mobil Corp. warned it may take up to $30 billion in writedowns on natural gas fields as crashing energy demand and prices spurred a historic losing streak.

Applications for U.S. state unemployment benefits fell more than forecast last week, suggesting the labor market remains on the path of gradual improvement — while still far from its pre-pandemic health.

The U.S. economy bounced back with a record yet temporary surge of growth in the third quarter as businesses reopened and stimulus cash powered consumer spending — reversing much of the collapse stemming from coronavirus lockdowns.

Congressional leaders and the White House have yet to reconcile differences on COVID-19 emergency aid proposals.

Norfolk Southern Corp. carried 7% less freight in the third quarter, but the Class I railroad still beat Wall Street expectations when it reported third-quarter earnings Oct. 28.

Warehouse operators across the U.S. are rushing to hire workers amid a boom in online sales, a bright spot for a labor market that faces mounting challenges.

U.S. senators departed the Capitol for a pre-election break Oct. 26, making the logistics for passing a fiscal stimulus package by Nov. 3 practically impossible, leaving the economy more vulnerable to damage from a resurgent coronavirus pandemic.

American Trucking Associations President Chris Spear praised the industry’s ability to rise to the occasion at the virtual Management Conference & Exhibition.

Oil extended its slide to a second day on a cocktail of surging coronavirus cases in the U.S. and Europe, dwindling prospects for pre-election stimulus in Washington and a steady resumption of supply from Libya.