NewsWatch: U.S. new jobless benefit claims rise for first time since late March

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MARKETWATCH FRONT PAGE

New applications for unemployment benefits rose by 109,000 to 1.42 million in the week ended July 18 on a seasonally adjusted basis, the Labor Department said Thursday. See full story.

A ‘fast and violent’ rally awaits in cyclical stocks, and it won’t take a vaccine to cause it, one strategist says

Why one strategist says the market just needs to see signs of progress on the coronavirus front to trigger gains in beaten-down stocks. See full story.

Elon Musk doesn’t want Tesla to be ‘super profitable’ as it soars toward a $300 billion valuation

Tesla Inc. Chief Executive Elon Musk, who heads a company with a valuation approaching $300 billion, doesn’t want his electric vehicle maker to be “super profitable.” See full story.

There’s growing evidence that Microsoft will overtake Salesforce in its core business within three years

Today’s users want both simplicity and seamless integration—which they get from Microsoft, not Salesforce. See full story.

Macy’s, Kohl’s suffer as brands, competitors and e-commerce step in to replace department stores

The problems at Macy’s and Kohl’s are shared across department stores, which have seen brands and other retailers take market share. See full story.

MARKETWATCH PERSONAL FINANCE

‘I don’t want to help pay the mortgage if I’m not receiving equity. I’m more than happy to pay for other things.’ See full story.

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