A man cleans up on the trading floor, following traders testing positive for Coronavirus disease (COVID-19), at the New York Stock Exchange (NYSE) in New York, U.S., March 19, 2020. Lucas Jackson | Reuters The coronavirus pandemic has roiled capital markets, but it has also led to something that was once unthinkable on Wall Street:
admin
Mohamed El-Erian said Wednesday he would be hesitant to put cash to work, arguing the stock market is still on a downward trend due to the coronavirus pandemic. But he offered a roadmap for investors who feel inclined to add to their portfolios. “Whatever cash you have, divide it over five installments,” El-Erian said on CNBC’s “Squawk Box,” suggesting dollar
Elenaleonova | Getty Images Online tax preparation service TurboTax has launched a free stimulus registration website so that Americans who do not typically file tax returns can get their relief checks faster. Millions of Americans are slated to get one-time government checks of up to $1,200 or $2,400, based on whether they are single or
Jourdain Degarmo, CEO of Mr. Muggles’ Dogs Joe Drypolcher Jourdain Degarmo had to lay off all seven employees from his doggie day care in San Francisco last month after California’s shelter-in-place order required non-essential workers to stay home. Degarmo has continued paying salaries with his cash on hand but needs help from the government to keep
Emanuel Simhayev, owner and pharmacist at Get Well Rx in Astoria, Queens, consults with a customer purchasing face masks. April 2, 2020 Emanuel Simhayev’s small pharmacy is short-staffed these days. Most of his employees, worried about getting exposed to the coronavirus, are no longer coming to work. Simhayev, 33, and his technician Evelyn Quirindongo, 53,
Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russia’s Energy Minister Alexander Novak are seen at the beginning of an OPEC and NON-OPEC meeting in Vienna, Austria December 6, 2019. Leonhard Foeger | Reuters The virtual meeting between OPEC and its allies scheduled for Monday has been postponed, sources familiar with the
The entrance to a Macy’s department store. Jeffrey Greenberg | Universal Images Group | Getty Images Macy’s is being dropped from the S&P 500, and in a sign of how far the fortunes of the retail space have fallen amid the coronavirus-related shutdowns, it is not being demoted to the mid-cap S&P 400, it’s being
Damircudic As the country grapples with an unprecedented pandemic that’s left millions of Americans unemployed, the U.S. Department of Education is giving most federal student loan borrowers a break from their monthly bills until at least October. That reprieve started on March 13 and goes until Sept. 30. And during that time, no interest will
Daniel Chan is among a number of small-business owners who rely on the tech industry’s parties and conferences and are now staring at blank calendars with no idea of when they will be able to return to their livelihoods. Courtesy of Daniel Chan Daniel Chan makes a good living doing magic shows around the San
People wearing facemasks, amid concerns about the spread of the COVID-19 novel coronavirus, talk on a street in front of a poster for the Disney film “Mulan” in Vientiane on March 11, 2020. Mladen Antonov | AFP | Getty Images Disney is making drastic changes to its 2020 movie slate in the wake of the
PM Images | Getty Images A generation of risk-averse supersavers could emerge from the fallout of the coronavirus crisis and potentially reshape the economy, experts have said. Morgan Housel, partner at venture capital firm Collaborative Fund and author of “The Psychology of Money,” said in a phone call that the coronavirus crisis would lead to
JPMorgan CEO Jamie Dimon told employees in a memo Thursday he is “happy to be back at work” following emergency heart surgery last month. “I have been recuperating well and getting stronger every day, and I am happy to be back to work this week — albeit working remotely like so many of you,” Dimon
SIphotography | Getty Images It’s been about a week since Congress pushed through a new bill that will send $1,200 stimulus payments to millions of Americans. And your questions about who is eligible for that money and how soon it could arrive keep on coming. Individuals with adjusted gross income of up to $75,000 stand
Leaning on his experience as a restaurant owner, CNBC’s Jim Cramer said Friday the U.S. government has an obligation to aid small businesses that are shut down during the coronavirus pandemic. “I had a business that was closed. It was doing great, and then one day I learned I was closed,” Cramer said on “Squawk on the Street.”
American Airlines passenger planes crowd a runway where they are parked due to flight reductions to slow the spread of coronavirus disease (COVID-19), at Tulsa International Airport in Tulsa, Oklahoma, U.S. March 23, 2020. Nick Oxford | REUTERS U.S. airline executives face a test to see which sacrifices they are willing to make in exchange
Take a look at some of the biggest movers in the premarket: Constellation Brands (STZ) – The maker of Corona and other beer and spirit brands reported quarterly earnings of $2.06 per share, beating the consensus estimate of $1.65 a share. Revenue also came in above forecasts. The company is not providing any full-year guidance
Brian Moynihan, CEO, Bank of America Scott Mlyn | CNBC Bank of America says it is capable of accepting online applications for the government’s $350 billion small business relief program, becoming the first major bank to make that announcement. Just minutes earlier on Friday, none of the websites of four of the biggest U.S. banks —
Steven Mnuchin, U.S. Treasury secretary, speaks during a Coronavirus Task Force news conference at the White House in Washington, D.C., U.S., on Thursday, April 2, 2020. Kevin Dietsch | Bloomberg | Getty Images The Treasury Department changed the terms on some loans it’s offering to small businesses during the coronavirus pandemic, making them less favorable
Film producer Jeffrey Katzenberg said Friday he doesn’t think the movie industry has to choose between releasing movies on the big screen or debuting them on streaming services. “I don’t think these things are mutually exclusive,” the co-founder of DreamWorks Animation said on CNBC’s “Closing Bell.” In fact, Katzenberg said he believes the film industry
Ford Motor employee Pat Tucker, 55, assembles face shields for healthcare workers on April 2, 2020 at a subsidiary facility of the automaker in Plymouth, Michigan. Ford Within days, Pat Tucker went from producing car parts for Ford Motor to assembling transparent face shields to assist health-care workers during the coronavirus pandemic. The 55-year-old grandmother