ISM survey: U.S. services surge to record high in March

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• Asian stocks follow Wall St. up on strong Japan, Korea data Asian stock markets followed Wall Street higher Thursday after Japan and South Korea reported unexpectedly strong economic data and President Joe Biden announced a $2.3 trillion U.S. infrastructure spending plan. Market benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced. Japan's closely watched Tankan survey found business conditions improved more than expected. South Korea reported higher March export growth. House prices rose in New Zealand and Australian manufacturing expanded. “Asia-Pacific released a lot of data today, including Japan’s latest Tankan…
• New survey shows Asian Americans perceived as ‘perpetual foreigners’ in U.S. Asian Americans are perceived as “perpetual foreigners” regardless of how long they or their families have lived in the United States, according to results of a survey released by AAPI Data and SurveyMonkey on Tuesday, March 30. AAPI Data, which publishes demographic data and policy research about the Asian American and Pacific Islander (AAPI) community, launched the survey soon after eight people, including six women of Asian descent, died in three March 16 shootings at Asian-owned spas in Atlanta. A 21-year-old…
• Reopening turned into economic recovery in March, but it's just the base of the mountain Summary List PlacementAmerica's economic recovery has been somewhat disjointed over the last several months. When retail sales would surge, job additions would falter. Consumer sentiment would improve, but unemployment claims remained at elevated levels. And while manufacturers continued to enjoy outsize demand, restaurants and brick-and-mortar stores saw elevated COVID-19 infections eat into business.  Now, roughly one year after the pandemic began to spread across the country, those separate parts of the economy are rebounding in sync. Consumer sentiment soared to…
• Bank of Japan survey more optimism over economic recovery Business sentiment is growing optimistic, a closely watched economic survey by the Bank of Japan showed Thursday, as the world’s third-largest economy continues to grapple with the damage from the coronavirus pandemic. The “tankan” survey’s headline index for big manufacturers’ sentiment stood at plus 5 in March, a considerable improvement over the minus 10 marked in December, and more positive than the forecast at plus 4. The survey's results highlight a steady recovery over the last three quarters to levels…
• Got thoughts on Dixie State University’s name? Take this survey An entrance sign at Dixie State University is pictured in St. George on Oct.11, 2020. Offering the community an opportunity to provide input on the Dixie State University name exploration process, the Name Recommendation Committee is launching an open survey. | Ravell Call, Deseret NewsSurvey window closes April 13 Got thoughts on Dixie State University’s name? The university’s name recommendation committee wants your input. An online survey will be conducted through April 13 as one means of gathering input on…
• Global shares edge higher as investors look past Archegos shockwave to COVID-19 developments, while US tech shares ease Summary List Placement Global stocks edged slightly higher on Tuesday as investors shrugged off the Archegos hedge fund default. Futures on the Dow Jones rose 0.2%, while those on the Nasdaq 100 fell 0.5%. Investors are anticipating President Joe Biden's infrastructure spending speech on Wednesday. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Global stocks rose on Tuesday, as investors shrugged off worries about wider fallout from the $35 billion Archegos default to focus instead…
• Illinois’ coronavirus positivity rate remains at a two-month high Illinois’ coronavirus positivity rate remained at a two-month high Sunday, continuing a troubling upward trend that could lead officials to tighten restrictions on businesses once again. | Scott Olson/Getty ImagesIllinois is seeing a troubling upward trend in its pandemic numbers that could lead officials to tighten restrictions on businesses once again. oIllinois’ coronavirus positivity rate remained at a two-month high Sunday, continuing a troubling upward trend that could lead officials to tighten restrictions on businesses once again. State health officials…
• US economy adds 916,000 jobs in March, trouncing economist forecasts as reopening begins Summary List PlacementHiring in the US rebounded in March as early reopening throughout the country and massive stimulus revived economic activity. Nonfarm payrolls grew by 916,000 last month, according to the Bureau of Labor Statistics. That comes in above the median estimate of 660,000 new payrolls from economists surveyed by Bloomberg. The reading is the largest one-month gain since August and marks a third straight increase. The jump follows an upwardly revised increase of 468,000 payrolls in February. The headline unemployment…
• Here's why the world's largest asset manager is still bullish on technology stocks despite recent jump in interest rates Summary List Placement High-growth technology stocks have been under pressure as interest rates continue to rise. But BlackRock isn't fazed by the recent weakness and has a bullish outlook for the tech sector. "Central banks will be slower to curb inflation than in the past, supporting our pro-risk stance and preference for tech," BlackRock said. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. A surge in interest rates isn't scaring the world's largest asset manager…
• Wall Street closes higher, pushing S&P 500 past 4,000 points By DAMIAN J. TROISE and ALEX VEIGA Stocks are closing broadly higher on Wall Street, pushing the S&P 500 past 4,000 points for the first time. Big Tech companies like Microsoft led the gains. The benchmark index climbed 1.1%, and the tech-heavy Nasdaq added 2.6%. Smaller companies continued to outpace the rest of the markets. Companies that would benefit from greater sales of electric vehicles rose after President Joe Biden outlined various measures to support their use as part of…