Major stock markets pulled back Friday as worries about the Delta variant of Covid-19 and profit taking offset another round of mostly strong corporate earnings.

Millions of Americans could find themselves homeless starting Sunday when a nationwide ban on evictions expires, even as billions in government funds meant to help them go untapped.

Caterpillar reported a jump in second-quarter profits Friday driven by higher sales across its divisions, but said customers in major industries were still avoiding new investments.

US consumer spending surged in June as vaccinations against Covid-19 boosted demand for travel-related services, but part of the increase reflected higher prices, with annual inflation accelerating further above the Federal Reserve’s 2 per cent target.

US oil giants ExxonMobil and Chevron  reported strong profits Friday riding a wave of higher prices amid  recovering demand, but pledged to keep a lid on spending.

The White House has told US automakers that it wants them to back a voluntary pledge of at least 40 per cent of new vehicles sales being electric by 2030 as it works to reduce greenhouse gas pollution, sources briefed on the matter said. 

Contracts to purchase previously owned US homes declined in June in step with a spike in home prices after rebounding strongly in the prior month.

China stepped up attempts to calm frayed investor nerves after a wild markets rout this week by telling foreign brokerages not to  “overinterpret” its latest regulatory actions, setting the stage for a rebound in beaten-down stocks on Thursday.

A roughly $1 trillion bipartisan infrastructure investment bill advanced in the US Senate on Wednesday, passing a key milestone that moves the emerging legislation toward formal debate and possible passage. 

The US economy likely gained steam in the second quarter, with the pace of growth probably the second fastest in 38 years, as massive government aid and vaccinations against Covid-19 fueled spending on travel-related services.

Canadian pipeline operator TC Energy Corp could spend billions of dollars on its plans to lower emissions by switching to renewable energy to run its huge network of US and Canadian oil and gas pipelines. 

Boeing Co on Wednesday posted its first quarterly profit in almost two years, as deliveries of its best-selling 737 MAX jets to airlines gained traction amid a sharp rebound in travel bookings following an increase in global Covid-19 vaccinations. 

Executives who run companies making everything from airplane parts to cars and steak burritos are at odds with economic policy makers on how durable the recent surge in US inflation will be and see higher prices hitting margins and profits through the remainder of this year, if not longer. 

Microsoft on Tuesday reported a jump in profits in the recently ended quarter, keeping strong momentum from accelerated gains in cloud computing during the pandemic. Profits for the fiscal fourth quarter rose 47 per cent to $16.5 billion and revenue grew 21 per cent to $46.2 billion.

The Biden administration is considering ways to ensure the US commercial fishing industry is paid for any losses it incurs from the planned expansion of offshore wind power in the Atlantic Ocean, according to state and federal officials involved in the matter. 

British Prime Minister Boris Johnson said Britain’s economy would show a steady recovery this year albeit with “bumps on the road” after the country posted a strong increase in the number of employees on company payrolls in June.

US oil refiners are set to post their first quarterly profit since the Covid-19 pandemic, even though higher oil prices and weaker margins in June have tamed analysts’ optimism fostered by the rebound in fuel demand. 

McDonald’s BTS celebrity meals and crispy chicken sandwiches are expected to fuel a US sales increase of 24 per cent when the company reports second-quarter earnings on Wednesday, but analysts are eyeing whether labor shortages could slow growth. 

Walmart Inc on Tuesday said it will pay the full cost of college tuition and books for its roughly 1.5 million full and part-time employees, effective Aug. 16.

Insurance brokers Aon Plc and Willis Towers Watson Plc said on Monday they had agreed to terminate their $30 billion merger agreement and end their litigation with the US Department of Justice.