Avie Schneider

The Dow Jones Industrial Average gains 526 points after reports that retail sales rebounded strongly in May and that the Trump administration is preparing an infrastructure plan to boost the economy.

U.S. stock indexes fell earlier on Monday, but they turn higher after the Federal Reserve announces it will start buying corporate debt.

Major stock indexes bounce back a day after the Dow lost 1,861 points amid spikes in new cases in states that had reopened their economies.

The pain in the job market continues as an additional 1.5 million sought unemployment benefits last week. In the past 12 weeks, more than 44 million new claims have been filed.

Amazon has hired 175,000 temporary workers to deal with a spike in online shopping during the coronavirus pandemic. Now it's offering most of them permanent jobs.

More than 1 in 4 U.S. workers have lost their jobs since coronavirus shutdowns began. Last week, an additional 2.1 million people filed for unemployment benefits.

President Trump's vow to "strongly regulate" such platforms comes a day after Twitter added a fact-check label to a pair of his tweets and renews his argument that those sites silence conservatives.

Nearly 3 million people filed for unemployment benefits last week, the Labor Department says. It's the latest grim sign of the economic damage from the coronavirus crisis.

The record job losses are a preview of the Labor Department's employment report for April coming Friday. ADP's new numbers are not surprising, given the more than 30 million jobless claims filed.

The economy contracted in the first quarter of 2020 as the coronavirus began to take its toll and spending dived. It's the first quarterly drop in six years and a likely precursor to a deep recession.