A pronounced economic slump sparked by the coronavirus outbreak has imperiled a popular investment strategy: buying dividend stocks. These stocks have traditionally been highly coveted during periods of market turbulence because they provide shareholders a dividend or a guaranteed return, typically paid out annually out of the company’s profits or reserves. That investment approach is
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Thomas Barwick This year, the coronavirus relief law is letting savers bypass mandatory distributions from their retirement accounts. While that’s good news, it’s still generating plenty of questions from account holders. Generally, savers who turn 70½ must begin annual required minimum withdrawals, or RMDs, from their retirement accounts and pay taxes on those distributions. However,
There are now about 20,000 shops on Etsy selling face masks, CEO Josh Silverman told CNBC on Wednesday. “Our sellers are able to produce hundreds of thousands of masks per day,” Silverman said on “Closing Bell.” Etsy began to see “overwhelming demand” for masks from shoppers last week after the Centers for Disease Control and Prevention began
Bleach maker Clorox has become a safe haven for investors at an uncertain time. As U.S. stocks tanked in the face of a spreading coronavirus pandemic, shares of Clorox hit highs not seen since the early 1970s. It is a nice boost for a company that was just months ago faced with fallout from stiffening competition
US President Donald Trump gestures as CEO of Bank of America Brian Moynihan (L) speaks during a meeting with banking leaders to discuss how the financial services industry can meet the needs of customers affected by COVID-19 at the White House in Washington, DC on March 11, 2020. Brendan Smialowski | AFP | Getty Images
The Federal Reserve is lifting the asset cap it has imposed on Wells Fargo so the bank can participate in the government’s business lending programs. In a move that was expected, the central bank said Wells will have to return proceeds it gets from the Payment Protection Plan and a coming Main Street lending program
With most Americans under stay-at-home orders due to the coronavirus outbreak, the roads are quieter – and safer – than usual. So why should you keep paying your regular auto insurance premium? Many insurers have a perhaps surprising answer to that question: You shouldn’t. Allstate announced this week that it would slash April and May’s
Steven Mnuchin, U.S. Treasury secretary, right, speaks beside U.S. President Donald Trump during a Coronavirus Task Force news conference in the briefing room of the White House in Washington, D.C., U.S., on Tuesday, March 17, 2020. Kevin Dietsch | Bloomberg | Getty Images Banks are scrambling to process a growing backlog of applications for the
A member of the New York Army National Guard walks past boxes of medical equipment at the Jacob K. Javits Convention Center in New York, U.S., on Monday, March 23, 2020. Construction will begin this week to turn the Jacob K. Javits Convention Center in Manhattan into a 1,000-bed hospital, a first step toward eventually
Take a look at some of the biggest movers in the premarket: Dick’s Sporting Goods (DKS) – The sporting goods retailer will furlough an unspecified number of workers starting April 12. It will pay workers until April 11, and provide health benefits throughout the furlough. A similar announcement comes this morning from Party City (PRTY),
Carson Block Anjali Sundaram | CNBC Carson Block’s Muddy Waters Research announced Wednesday it has taken a short position in eHealth Inc., which owns a digital health insurance exchange. Block, the firm’s founder, disclosed the position on CNBC’s “Squawk Box.“ Muddy Waters argues eHealth, with a stock market value of $3 billion as of Tuesday’s close,
Photo by Ariel Skelley via Getty Images Markets have been a roller coaster ride in the weeks since the coronavirus pandemic reached the U.S. Most of the country’s financial advisors think we haven’t hit bottom yet, a survey finds. Despite periodic rallies — like Monday’s more than 7% rise of both the Dow Jones and
Getty Images It’s never ideal to build up debt, but it may be necessary these days. The coronavirus outbreak has disrupted the economy. Businesses have shuttered and workers have been laid off or furloughed from their jobs. On April 2, the Labor Department reported 6.6 million people filed for unemployment the week prior — bringing the total
Weddings are largely considered recession-proof. From flowers to photography, celebrations of marriage are a $74 billion industry, according to market research firm IBISWorld. Even as more millennials delay marriage, those who do decide to tie the knot are spending more on their big day. Until now. Amid a global pandemic, tens of thousands of couples have
U.S. President Donald Trump responds to a question about the Department of Health and Human Services Inspector General’s report on the shortage of novel coronavirus tests for hospitals during the daily coronavirus task force briefing at the White House in Washington, U.S., April 6, 2020. Kevin Lemarque | Reuters President Donald Trump blamed the World Health
U.S. stock futures were slightly higher in overnight trading and pointed to modest gains at the open on Wednesday, continuing a volatile week for stocks gripped by the coronavirus shutdown. Dow futures rose about 50 points, indicating a gain of 0.1%. The S&P 500 and Nasdaq Composite were also set to open in the green,
Federal Reserve Chair Janet Yellen speaks during a news conference December 13, 2017 in Washington, DC. Getty Images Former Federal Reserve Chair Janet Yellen thinks the central bank is not in a position where it needs to buy equities but thinks lawmakers should give it more leeway for the future. “It would be a substantial
EmirMemedovski Homeowners whose finances have been battered by coronavirus might want to think again before postponing their mortgage payments. Congress has offered some relief to mortgage borrowers who are experiencing financial strain from the coronavirus pandemic, which has left a flood of layoffs in its wake. The Coronavirus Aid, Relief, and Economic Security Act –
Andrew Harrer | Bloomberg | Getty Images In the 11 weeks since the novel coronavirus first made its way to the U.S., Americans have been forced to conform to sweeping changes as schools and businesses made the move to shut down and governments enforced lockdowns, stating individuals must be confined to their homes to stop
[The stream is slated to start at 5 p.m. ET. Please refresh the page if you do not see a player above at that time.] Members of the coronavirus task force are expected to hold a press briefing Tuesday, in what has become a daily affair as the pandemic continues to claim lives. Following the