Wall Street ends up after swings on reopening hopes, weak data, trade woes

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NEW YORK (Reuters) – Wall Street’s three major indexes closed higher after swinging between gains and losses on Friday as investors weighed worries about Sino-U.S. trade relations and weaker-than-expected U.S. economic data against growing optimism that easing coronavirus restrictions would boost activity this month.

FILE PHOTO: The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, U.S., April 26, 2020. REUTERS/Jeenah Moon

Economic data painted a grim picture on Friday as U.S. retail sales and manufacturing output showed record declines in April due

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Coronavirus boosts U.S. layoffs; job openings fall

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WASHINGTON (Reuters) – Layoffs in the United States jumped to a record high in March, while the number of people voluntarily quitting their jobs dropped to a 4-1/2-year low as the novel coronavirus crisis rapidly changed labor market dynamics.

FILE PHOTO: People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fayetteville, Arkansas, U.S. April 6, 2020. REUTERS/Nick Oxford

The Labor Department said on Friday in its monthly Job Openings and Labor Turnover Survey, or JOLTS, that layoffs and discharges increased 9.5 million in

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Coronavirus pummels U.S. retail sales, industrial production

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WASHINGTON (Reuters) – U.S. retail sales endured a second straight month of record declines in April as the novel coronavirus pandemic kept Americans at home, putting the economy on track for its biggest contraction in the second quarter since the Great Depression.

The deepening economic slump was underscored by other data on Friday that showed production at industries collapsed last month at its deepest pace in 101 years. The reports, combined with a historic 20.5 million job losses in April, buttressed Federal Reserve Chair Jerome Powell’s warning on Wednesday of an “extended period” of weak growth and stagnant incomes.

“This

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U.S. state attorneys general likely to bring antitrust lawsuits against Google: source

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FILE PHOTO: A 3D printed Google logo is seen in this illustration taken April 12, 2020. REUTERS/Dado Ruvic/Illustration

(Reuters) – A group of state attorneys general led by Texas are likely to -file an antitrust lawsuit against Alphabet Inc’s (GOOGL.O) Google and are working on potential litigation for later this year, a person familiar with the situation said on Friday.

The Justice Department is also moving toward bringing a case as soon as this summer, The Wall Street Journal reported on Friday.

Shares of Alphabet fell about 1.5% in after-hours trading.

Google did not immediately respond to a

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