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American Airlines Group Inc said on Friday it expects to halt its daily cash burn by the end of 2020 thanks to cost-cutting measures and an improvement in travel demand, easing concerns about its short-term liquidity.

A large number of small U.S. businesses could fail during the coronavirus recession, the Federal Reserve said on Friday, slowing recovery and creating lasting damage to the world's largest economy.

Shares of airlines, cruise lines and other companies that have been popular with investors on the Robinhood trading app shot higher on Friday, a day after stocks suffered their worst one-day market rout in about three months.

Two key U.S. senators are circulating a bipartisan draft bill that would reform how the Federal Aviation Administration certifies new aircraft in the wake of two fatal Boeing 737 MAX crashes that killed 346 people.

A top White House economic adviser on Friday predicted an "increasing divergence" between states controlled by Republican governors and those led by Democrats, saying Republican "red" states opening up faster will see a stronger economic recovery.

U.S. consumer sentiment perked up in early June as households responded to the reopening of businesses, which had been shuttered to slow the spread of COVID-19, and a rebound in hiring.

Oil was little changed on Friday and headed for a first weekly fall since April as new U.S. coronavirus cases spiked, raising the prospect of a second wave of the virus hitting demand.

Global equity markets bounced back on Friday as investors took in stride the U.S. Federal Reserve's outlook for a long road to recovery and bet shutdowns to fight the coronavirus pandemic were unlikely to be reinstated widely.

Wall Street's main indexes rose on Friday, after a steep decline in the previous session, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries.

The Federal Reserve expects U.S. household finances and business balance sheets to grapple with "persistent fragilities" as a result of the shock to economic activity arising from the coronavirus pandemic, the central bank said in a report to Congress on Friday.

Richmond Federal Reserve Bank President Tom Barkin he fears the coronavirus pandemic could have effects that last beyond the next couple of months and that some of the jobs lost during the downturn may not come back.

An anti-China advocacy group that includes former White House adviser Steve Bannon is calling on the Trump administration to exclude Chinese companies from U.S. financial markets, as the White House studies new ways to crack down on China.

Global demand for premium foods like wagyu beef, bluefin tuna and caviar has plunged with thousands of restaurants shuttered and many economies sliding into recession amid the coronavirus pandemic.

British Airways, easyJet and Ryanair said on Friday they have begun legal action against the British government's quarantine policy in a bid to overturn what they see as overly strict rules.

Oil prices rose on Friday but were on track for their first weekly fall in seven as new U.S. coronavirus cases spiked, raising the prospect of a second wave hitting demand.

The Members Exchange (MEMX), a new U.S. stock exchange backed by some of Wall Street's biggest firms that is preparing for a Sept. 4 launch, said it received financial backing from Citigroup Inc .

The United States is investigating a Venezuelan shipping magnate for possibly violating U.S. sanctions by bringing fuel to gasoline-short Venezuela, according to two senior Trump administration officials.

Wall Street's main indexes jumped on Friday, recouping about half of the previous session's sharp losses, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries.

U.S. stocks opened sharply higher on Friday, a day after their biggest one-day dive in about three months on fears of a resurgence in coronavirus infections.

Dick's Sporting Goods Inc said on Friday it would resume paying shareholders a quarterly dividend, citing strong early sales at its stores that have reopened amid easing coronavirus-driven restrictions.