A man wears a mask as he passes the New York Stock Exchange. Mark Lennihan | AP U.S. equities rallied on Friday, despite a historic jobs report showing more than 20 million Americans lost their jobs in April, bringing the unemployment rate to a staggering 14.7% due to the coronavirus shutdown. Investors shrugged off the
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Elon Musk, CEO of Tesla and SpaceX, is not shy his opinion of legendary investor Warren Buffett. He once called Buffett’s signature investment strategy ”lame” on a Tesla earnings call. And on Thursday’s episode of “The Joe Rogan Experience” podcast, Musk said he’s not the “biggest fan” of Buffett, whose job is “boring” but “important.” Buffett came up
The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, April 26, 2020. Jeena Moon | Reuters With one-third of S&P 500 companies declining to provide guidance, picking winners and losers has become a very delicate business. How
Chip Somodevilla | Getty Images The IRS has a clear message for families of the deceased who receive stimulus checks: Give the money back. But what about those who recently died because of Covid-19? At least 75,852 U.S. deaths have been caused by the novel coronavirus, according to the latest data from Johns Hopkins University.
Kevin O’Leary told CNBC on Thursday that he believes around 20% of small businesses that received federal loans to weather the coronavirus pandemic won’t ultimately survive. “They’re going to go bankrupt because this loan provision is really a Feb. 15 to June 30 event and if you haven’t figured out alternate distribution strategies by then, you
The April jobs report is due to be released at 8:30 a.m. ET and it’s expected to show the worst job losses ever reported as coronavirus restrictions shuttered businesses for the month and put millions out of work. State officials are now attempting to thread the needle between reopening parts of the economy and preventing
Jeff Lawson Abigail Stevenson | CNBC Twilio shares were up as much as 25% in extended trading on Wednesday after the company reported first-quarter results and quarterly guidance that surpassed analysts’ estimates. The company’s shares exceeded the $149.95 record close from July 2019. The company reported: Earnings: 6 cents per share, adjusted Revenue: $364.9 million Revenue grew
Check out the companies making headlines before the bell: SeaWorld Entertainment – The theme park operator reported a quarterly loss of 72 cents per share, 2 cents wider than expected, while revenue fell below estimates. SeaWorld closed its parks in mid-March due to the coronavirus outbreak, but said it remains confident in the resiliency of
When Sunny Dreyer got a text from her boss in late March to jump into quick Zoom call, she had a sinking feeling she knew what was coming. The 32-year-old L.A. resident had just heard news that Bird, the e-scooter company, laid off hundreds of employees in an effort to save the business as the
The stock market’s coronavirus-driven bottom in late March is “definitely going to be the low” during the crisis, Wharton School professor Jeremy Siegel told CNBC on Friday. In fact, Siegel said the massive monetary policy response from the Federal Reserve, along with additional progress on treatments and possible vaccines for Covid-19, could really boost stocks next year.
There’s no better time to think about next year’s taxes than right after you file this year. Jayme Thornton | Tooga Productions | Getty Images There’s still time to submit your bank account information to the IRS to get your $1,200 stimulus payment more quickly. But that window is closing, the IRS said on Friday.
Fashion designer Rebecca Minkoff is on a mission to help female entrepreneurs through the coronavirus pandemic. “Right now is a trying time for small businesses and women in general,” said Minkoff, 39, and the co-founder and creative director of her own fashion line. “We already are set up, you know, making 80 cents on the
Paramedic Randy Lilly, wearing personal protection equipment (PPE), tends to a 10-month-old boy with fever while riding by ambulance with the infant’s mother to Stamford Hospital on April 04, 2020 in Stamford, Connecticut. Fever is a common symptom of COVID-19, although cases with young children are relatively rare. The child’s status is unknown. John Moore
Ernie Garcia, CEO, Carvana Scott Mlyn | CNBC Shares of Carvana tumbled double digits during after-market trading following the auto retailer reporting a net loss of $183.6 million during the first quarter. The company’s loss widened by 122.3% compared to it losing $82.6 million during the first quarter of 2019. The used-car e-commerce platform reported
People wait in line as SF-Marin Food Bank hands out 1600 food bags in San Francisco on April 20, 2020. Work furloughs and layoffs created by coronavirus shelter-in-place orders are driving thousands to seek food assistance. San Francisco Chronicle | Hearst Newspapers via Getty Images A record number of Americans just lost their job, and
For many of those self-isolating at home, spending habits have changed. Perhaps you’re eating out less — or ordering in more. Maybe you’re saving money on movies and concerts, but have signed up for an extra streaming service or two. Below, CNBC Make It spoke with five couples to see how their spending habits have changed
Nora Tam | South China Morning Post | Getty Images Tesla stock has risen more than 7% since Tesla CEO Elon Musk’s tweet a week ago that the company’s shares were priced “too high.” Shares of Tesla closed down down 10.3% last Friday on Musk’s tweet, but have quickly recovered those losses and then some –
You might be wondering why the stock market is doing so well when you’re doing so badly. Even if you’re coasting, you likely know people who are struggling. The reality is, small-town America doesn’t go under the lens of Wall Street, says Walid Petiri, owner of Financial Management Strategies, an advisory firm in Baltimore. Certain
For the past several years, restaurants have added more than half a million seasonal jobs in the summer as consumer spending ticks up and tourism bolsters business. But the coronavirus pandemic has forced the industry to change the way it operates, leaving questions about what the future looks like and how many jobs will be available
A Kohl’s store in San Rafael, Calif. Getty Images Kohl’s is better positioned than its mall-based, department store peers to emerge from the coronavirus pandemic and draw customers back to shop, according to its CEO. Why? It boils down, in large part, to real estate. “We have always talked about our off-mall [stores] being a strategic