Getty Images Banks have pulled back from a popular credit card promotion on concerns that borrowers struggling during the coronavirus crisis may leave them with defaulting loans. Balance transfer offers, which typically entice borrowers to move their debt to a new lender in exchange for a temporary 0% interest rate, have been sharply reduced at banks
Finance
Hanna Budzko 1. Technical writer Nycretoucher | Getty Images Average annual pay: $68,640 Number of job openings as of June 10: 2,308 2. Financial analyst Andrew Brookes Average annual pay: $67,900 Number of job openings as of June 10: 5,242 3. Proposal writer WavebreakMedia | Getty Images Average annual pay: $67,047 Number of job openings
People walk by a Nike store in New York. Spencer Platt | Getty Images Check out the companies making headlines in midday trading. Nike — The sportswear maker slid more than 5% after the company reported a surprise loss for the fourth quarter as sales slumped 38% year-over-year. Nike lost 51 cents per share, compared with
Take a look at some of the biggest movers in the premarket: Nike (NKE) – Nike lost 51 cents per share for its latest quarter, well off the consensus forecast for a 7 cents per share profit. The athletic footwear and apparel maker’s revenue also came in far below expectations, hurt by lockdown-related store closures.
Traders work during the opening bell at the New York Stock Exchange (NYSE) on March 16, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images U.S. stock futures were mostly flat on Thursday night following the release of the Federal Reserve’s latest bank stress-test results and disappointing quarterly numbers
A pedestrian passes in front of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, June 3, 2020. Michael Nagle | Bloomberg | Getty Images The Federal Reserve put new restrictions on the U.S. banking industry Thursday after its annual stress test found that several banks could get uncomfortably close to minimum
The New York Stock Exchange (NYSE) stands in lower Manhattan on May 18, 2020 in New York City. Markets surged today as promising details of a potential COVID-19 vaccine were released and more European countries gradually re-opened after months of lockdown. Spencer Platt | Getty Images This is a live blog. Please check back for
A construction worker walks past new homes under construction by developer KB Home in Valencia, California. Jonathan Alcorn | Bloomberg | Getty Images Check out the companies making headlines after the bell. KB Home — The home construction company’s stock dipped 13% in extended trading after KB Home released its second-quarter earnings. The company reported
Many Wall Street analysts are warning their clients that a Biden presidency will not be good for the stock market. The former Vice President and presumptive Democratic nominee has pledged to roll back President Donald Trump’s signature tax cut legislation, which has boosted corporate profits, and if there is a blue wave in November, Democrats
Jovita Carranza, head of the Small Business Administration, listens during a roundtable discussion with governors and small-business owners. Alex Wong/Getty Images Millions of small businesses have gotten federal aid to help weather the recession caused by the coronavirus pandemic. Despite that relief, many don’t expect to survive the crisis. Entrepreneurs who close their doors may
It may be time to add global exposure to your portfolio. UBS Global Wealth Management’s Alejo Czerwonko sees upside going abroad despite a surge in coronavirus cases. “We expect them to be fairly well-handled by health systems worldwide,” the firm’s emerging markets strategist told CNBC’s “Trading Nation” on Tuesday. Czerwonko is building his bull case
Jeffrey Ubben Source: BusinessWire ValueAct Capital’s Jeffrey Ubben has reportedly left the firm he founded in 2000 to focus on socially responsible investing full-time, a new report from the Financial Times said. Ubben will launch a new fund called Inclusive Capital Partners, according to the Financial Times, where he’ll be joined by two former ValueAct
General manager Carlos Crow hangs a sign at Steiner’s, A Nevada Style Pub shortly before opening for business for the first time since closing on March 17 in response to the coronavirus (COVID-19) pandemic on May 22, 2020 in Las Vegas, Nevada. Ethan Miller | Getty Images The ability to quit or refuse a job
Market bull Jim Paulsen believes coronavirus hot spots across the country won’t wreck the recovery. According to the Leuthold Group’s chief investment strategist, new cases won’t widely impact the economic reopenings. “At the same time those are having hot spots, New York is being brought back online,” he told CNBC’s “Trading Nation” on Monday. “The
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a House Budget Committee hearing in Washington, D.C., U.S., on Thursday, Nov. 14, 2019. Andrew Harrer | Bloomberg | Getty Images The Federal Reserve’s move into the next phase of its corporate bond buying is generating renewed concerns over potential asset bubbles. In the latest
A person wearing a face mask walks along Wall Street after further cases of coronavirus were confirmed in New York, March 6, 2020. Andrew Kelly | Reuters This is a live blog. Check back for updates. 7:38 am: Stock futures higher Dow Jones Industrial Average futures were higher by about 100 points. S&P 500 futures and Nasdaq-100 futures were
A pedestrian wearing a protective mask walks through the Lujiazui financial district in Shanghai, China, on Friday, March 20, 2020. Qilai Shen | Bloomberg | Getty Images As global uncertainty escalates, more foreign businesses are buying into China, including deals in the more sensitive industries of finance and technology. “Over the past 18 months, we
Traders could be in for a wild ride Friday because of a couple technical factors. The S&P 500 will have its first rebalancing of the year at Friday’s close, more than three months after the market’s wild swings forced S&P Dow Jones Indices to delay this traditional quarterly event. Index rebalancing has often been associated
The Federal Reserve is seeing high demand for its business loan initiative put in place to help smaller companies get through the coronavirus-induced recession, Boston Fed President Eric Rosengren said Friday. As the Main Street lending facility wraps up its first full week of operation, Rosengren reported brisk interest on the borrowing side amid what
Traders wearing masks work inside posts, on the first day of in-person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. Brendan McDermid | Reuters Bluster about bubbles is blowing through Wall Street again, stirring