ºÚÁϳԹÏÍø

Yet another Texas terminal is preparing to export oil, even as the pandemic continues to hammer global demand for U.S. crude.

Caterpillar Inc.’s machinery sales dropped by the most in 10 years last month in a sign of a deepening slump in its Americas businesses, where the company has extended plant shutdowns.

Oil is heading for its first weekly loss since April, when prices collapsed below zero.

Treasury Secretary Steven Mnuchin said the U.S. shouldn’t shut down the economy again even if there is another surge in coronavirus cases.

U.S. nonfinancial business debt soared in the first quarter by the most in records back to 1952, as bank loans and corporate bond issuance jumped in companies’ all-out effort to stay liquid during the coronavirus pandemic.

Shares of Boeing Co. and its largest suppliers sank June 11 after the planemaker pared output plans for its beleaguered 737 Max just two weeks after restarting work in its Seattle-area factory.

Applications for U.S. unemployment benefits gradually eased last week despite a stream of business reopenings, underscoring the longer-term labor-market challenges caused by the coronavirus pandemic.

Managing crises such as the coronavirus pandemic requires communication, planning and flexibility, said Ed Emmett, senior fellow at Rice University’s Kinder Institute for Urban Research.

The Federal Reserve pledged to maintain at least the current pace of asset purchases and projected interest rates will remain near zero through 2022, as Chairman Jerome Powell committed the central bank to using all its tools to help the economy recover from the coronavirus.

U.S. Class 8 retail sales in May tumbled 62.5% — during the heart of the novel coronavirus pandemic — to just above 9,000 compared with a year earlier, WardsAuto.com reported.