This article is being republished as part of our daily reproduction of articles that also appeared in the U.S. print edition of The Wall Street Journal (July 3, 2020).

Unemployment fell and the U.S. economy regained 4.8 million jobs in June, but the recent surge in new coronavirus infections could throw the recovery off course.

Joblessness is likely to remain in double-digits through year-end and the economic downturn will be more severe than previously forecast, the CBO said.

U.S. stocks rose on the jobs report, with the S&P 500 and Nasdaq both gaining 0.5% and the Dow adding 0.4%. All three finished the week up 3.2% or more.

Tesla's global deliveries fell 4.9% in the second quarter from a year earlier, a much smaller decline than analysts had forecast.

Exxon warned of steep losses in its refining and oil-and-gas businesses, foreshadowing a likely second straight quarterly loss.

The Treasury Department has agreed to terms for loans to American and four smaller airlines as part of a program to help the industry weather the pandemic.

Groups that called for an advertising boycott against Facebook will ask the company to hire an executive with civil rights expertise for its C-suite.

Google's YouTube TV and FuboTV are raising prices on their "skinny-bundle" services this summer.


(END) Dow Jones Newswires

July 03, 2020 02:47 ET (06:47 GMT)

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