The Dow Jones Industrial Average closed 369.04 points higher, or 1.5%, at 24,575.90. The S&P 500 advanced 1.7% to 2,971.61, its highest closing level since March 6. The Nasdaq Composite outperformed, rallying 2.1% to 9,375.78. Wednesday's advance put the major…

The memo, issued ahead of his bank's annual shareholder meeting, served as an update to the New York-based lender's response to the pandemic. Dimon also detailed the steps his firm has taken to support customers and employees since the crisis began two months ago, as well as his thinking about…

The retailer's comparable retail net sales dropped 28% from the same period last year, a decrease driven by store closures from the coronavirus, according to a company statement. Urban Outfitters also reported that its preliminary gross profit dollars decreased by 95.6% to $11.8…

In its latest "Global Financial Stability Report," the IMF found banks across nine advanced economies will struggle to generate profits over the next five years as the coronavirus pandemic causes a sustained period of low interest rates. The Fund said the Covid-19 economic downturn will…