A police officer directs Miami-Dade County residents as they line up in their cars to receive a paper unemployment form on April 7, 2020 in Hialeah, Florida. Daniel A. Varela/Miami Herald/Tribune News Service via Getty Images Millions of workers have left the labor force since the early days of the Covid pandemic. That’s bad news
Finance
The reflection of bitcoins in a computer hard drive. Thomas Trutschel | Photothek via Getty Images Bitcoin’s price jumped sharply to an all-time high after Tesla revealed a big stake in the digital coin and said it would start accepting payments in bitcoin in exchange for its products. The world’s largest cryptocurrency last traded 12%
Men wearing face masks walk past a Gap store at a shopping area, as the country is hit by an outbreak of the new coronavirus, in Beijing, China February 7, 2020. Jason Lee | Reuters BEIJING — China’s capital city will hand out about $1.5 million in a limited trial of the central bank’s digital
As the Reddit rebellion tries to make a comeback, one long-time market bull is seeing euphoria at dot-com bubble levels. According to Ed Yardeni, it’s happening because the government is unintentionally setting the stage for retail investors to wage highly speculative bets. “There’s just so much liquidity that has been provided by the Fed and
The GameStop Corp. logo on a smartphone Tiffany Hagler-Geard | Bloomberg | Getty Images A look at a list of the 10 most-purchased stocks by retail traders during the market mania last month is missing one key stock: GameStop. AMC Entertainment and Plug Power, two names caught up in the trading frenzy along with GameStop,
Traders work on the floor of the New York Stock Exchange. NYSE Blowout earnings are forcing analysts to up estimates for 2021. With a little more than half of companies reporting, earnings are proving to be a pleasant surprise for the trading community. The GameStop/Robinhood fiasco is turning out to be a minor blip in
President Joe Biden speaks delivers a foreign policy address during a visit to the State Department in Washington, February 4, 2021. Tom Brenner | Reuters President Joe Biden said this weekend that it is unlikely a $15 federal minimum wage provision makes it into the next Covid-19 relief package, hitting pause on a key campaign
Dan and Grace Porte lost their jobs at Target when the Covid pandemic began. The couple, in their mid-80s, had used the income to supplement Social Security. Dan and Grace Porte Dan and Grace Porte worked together for decades. In the 1970s, they started a paint and wallpaper business. Then, after the housing bubble burst
Attendees play the Activision Blizzard Inc. Call Of Duty: Black Ops 4 video game at the company’s booth during the E3 Electronic Entertainment Expo in Los Angeles, California, U.S., on Tuesday, June 12, 2018. Troy Harvey | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Ford — The legacy automaker’s
Cars line up to pick up food boxes at the Athens County Fairgrounds in Athens, Ohio on Dec. 19, 2020. BRAD LEE | AFP | Getty Images Long-term unemployment is edging toward a historical peak, almost a year into the pandemic-fueled downturn. Workers are deemed to be “long-term unemployed” when their jobless spell is longer
Take a look at some of the biggest movers in the premarket: Peloton (PTON) – Peloton doubled consensus estimates in reporting quarterly profit of 18 cents per share, and the fitness equipment maker’s revenue came in above estimates as well. Peloton will be incurring extra costs in the near term, however, to reduce shipping delays
Traders work on the floor of the New York Stock Exchange. NYSE Stock futures were flat in overnight trading on Thursday, following a four-day winning streak on Wall Street as investors awaited a closely-watched January jobs report. Futures on the Dow Jones Industrial Average rose just 20 points. S&P 500 futures were flat and Nasdaq
Jakub Porzycki/NurPhoto via Getty Images GameStop’s stock is tanking again on Thursday, as the Reddit-fueled trade continues to unravel. Shares of GameStop are down more than 25% on Thursday, brining the brick-and-mortar video game retailer’s weekly losses to nearly 80%. The drop in price comes despite the rollback of trading limits from stock trading app
Take a look at some of the biggest movers in the premarket: Canada Goose (GOOS) – Canada Goose shares surged more than 15% in the premarket after the outerwear maker beat estimates on both the top and bottom lines. Results were helped by strong growth in China sales as well as a surge in online
The economic report to watch this week may disappoint Wall Street. According to MKM Partners’ Michael Darda, the January jobs report out Friday will likely show the labor market needs more time to recover from coronavirus case spikes and closures. “We have a slight chance of a beat, but it’s uncertain,” the firm’s chief economist
Capitol dome Congress Mark Makela | Getty Images News | Getty Images President Joe Biden and congressional Democrats are hoping to pass $1.9 trillion of additional pandemic relief, including extra jobless benefits. Still, many unemployed workers haven’t yet gotten benefit payments from the last stimulus package, which former President Trump signed more than a month
Canaccord Genuity’s Tony Dwyer sees a market setback ahead. Even though stocks are kicking off February in rally mode as the Reddit frenzy collapses, he believes a 5% to 10% pullback is already underway. “We’ve been looking for a correction,” the firm’s chief market strategist told CNBC’s “Trading Nation” on Tuesday. “We’re in a slow
Signage for Alibaba Group Holding Ltd. covers the front facade of the New York Stock Exchange November 11, 2015. Brendan McDermid | Reuters Alibaba will be taking advantage of the low interest rate environment in the U.S. right now by issuing the bonds. The company said the proceeds will be used for general corporate purposes,
Dominik Osswald/Bloomberg via Getty Images Is silver the new GameStop? The question lingered Monday as the metal rallied, suggesting it was the market’s next hot-ticket item. The answer is both yes and no — and they both signal investors should tread cautiously. Silver prices hit an 8-year high on Monday, jumping to $29 an
Cameron (L) and Tyler (R) Winklevoss. Adam Jeffery | CNBC Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, is launching a savings scheme for its U.S. users. From Tuesday, the Gemini app will add a new service called “Earn” that lets clients move their holdings in cryptocurrencies like bitcoin, ether and litecoin into