Finance

Spencer Platt | Getty Images The unemployment rate in the U.S. improved last month as millions of people returned to the workforce. But the official 13.3% unemployment rate, while still high relative to any point since the Great Depression in the early 20th century, likely understates the economic damage wrought by the coronavirus pandemic. The

Source: Chime An interesting phenomena is occurring during the sharpest downturn in the history of our country: Americans have money in their pockets.  Economic and banking data is revealing that Americans are earning and saving money during the coronavirus crisis, thanks to unprecedented stimulus from the federal government. The rescue funds could be responsible for

Interior Design area of the Restoration Hardware store in the Meatpacking District of New York.  Source: RH Check out the companies making headlines after the bell. Broadcom — Shares of the semiconductor company climbed 1% in extended trading after Broadcom released its second-quarter financial results. The company posted earnings of $5.14 per share excluding some

U.S. Secretary of Labor Eugene Scalia. Oliver Contreras/SIPA/Bloomberg via Getty Images Savers using 401(k) plans may soon be able to invest their retirement money in private equity, long considered strictly the province of the well-to-do. The U.S. Labor Department issued guidance Wednesday stipulating that business owners with 401(k) plans can more safely offer certain funds

Shoppers walk out with full carts from a Costco store in Washington, D.C., on May 5, 2020. Nicholas Kamm | AFP | Getty Images Check out the companies making headlines after the bell. Cloudera – The software company’s stock fell 11% in extended trading after Cloudera provided its first-quarter earnings. The company reported first-quarter earnings

The last two recessions may help determine what’s next for the recent market rally. Economic Cycle Research Institute co-founder Lakshman Achuthan has narrowed the possible recovery paths into two scenarios: The dot.com bubble collapse and financial crisis aftermath. Achuthan builds his case in a special S&P 500 chart showing performance during the 2009 to 2010 and

A trader working after the Nasdaq opening bell ceremony on April 18, 2019 in New York City. Kena Betancur | Getty Images Check out the companies making headlines in midday trading.  Lyft – Shares of the ride-hailing company jumped more than 11% after the company said that demand has begun to recover. Lyft said it

Coronavirus may no longer be the market’s top risk. According to Crossmark Global Investments’ Victoria Fernandez, weak consumer spending is the biggest threat to the recovery — especially as social unrest grips the nation. “If you looked about a month or two ago, people would say it was Covid, and it was the reopening that was

A worker examines a sewage recycling pool in the coal liquefaction factory of CHN Energy in Ordos, north China’s Inner Mongolia Autonomous Region, April 11, 2019. Xinhua | via Getty Images BEIJING — China has a lot more to worry about at home than its foreign policy. Some energy-related companies in the country have found themselves caught

David Paul Morris | Bloomberg | Getty Images Wells Fargo is tapping the brakes on its auto loan business, CNBC has learned exclusively. The bank, one of the biggest lenders for new and used car purchases in the U.S., sent letters to hundreds of independent auto dealerships last month telling them that the San Francisco-based

A pedestrian passes an advertising board outside a Western Union money transfer store in Athens, Greece. Chris Ratcliffe | Bloomberg | Getty Images Check out the companies making headlines after the bell. Western Union — The money payment service’s stock rose 7% in extended trading after a report from Bloomberg Law that Western Union recently made

BTIG’s Julian Emanuel has warning for investors: Brace for a 15% to 20% pullback. Emanuel, who came into 2020 as one of Wall Street’s biggest bulls, sees a stock market out of alignment with the economy as risks rise. “It’s probably time for the market to reassess the uncertainties to the economy,” the firm’s chief

A logo for Pfizer is displayed on a monitor on the floor at the New York Stock Exchange, July 29, 2019. Brendan McDermid | Reuters Check out the companies making headlines midday Monday: Pfizer — Pfizer dropped more than 8% after the pharmaceutical giant reported disappointing results from its breast-cancer drug trial. The trial is

Red flags fly in front of the Great Hall of the People as the third session of the 13th National People’s Congress (NPC) opens on May 22, 2020 in Beijing, China. Du Yang | China News Service | Getty Images BEIJING — The U.S.-China relationship is at a critical turning point, analysts say, and hints

A view of the Fearless Girl with New York Stock Exchange in Wall Street in the backdrop amid Coronavirus Pandemic on April 5, 2020. John Nacion | NurPhoto | Getty Images U.S. stock futures fell on Sunday night as Wall Street was set to kick off June trading on a sour note after consecutive monthly

Jeff Bezos, founder and CEO of Amazon, pictured on September 13, 2018. Bloomberg | Getty Images Jeff Bezos is investing in U.K. digital freight forwarding and supply chain finance firm Beacon, Sky News reported Sunday, without stating its sources. The Amazon CEO and world’s richest man is taking part in Series A fundraising worth $15

View of New York Stock Exchange, Wall Street on March 23, 2020 in New York City. Angela Weiss | AFP | Getty Images This is a live blog. Please check back for updates. 7:23 am: Stock futures fall as Trump news conference looms Stock futures fell slightly on Friday morning as traders awaited a news

Check out the companies making headlines before the bell: Big Lots — Big Lots is the latest discount retailer to report a strong quarter amid the pandemic, earning an adjusted $1.26 per share compared with a 40 cent consensus estimate. Revenue exceeded forecasts as well, with same-store sales jumping 10.3% compared with a 1% FactSet

The coronavirus crisis has Americans hoarding more money than ever before as widespread fear paralyzes consumer spending habits. The swiftness and severity of economic recovery in the U.S. hinges on whether consumers continue to stockpile cash or start to spend again.  The personal savings rate hit a historic 33% in April, the U.S. Bureau of

Residents wait in line for free groceries from a pop-up food pantry amid the coronavirus disease (COVID-19) outbreak in Chelsea, Massachusetts, May 19, 2020. Brian Snyder | Reuters The historic job losses suffered around the world are disproportionately affecting women, Citi said in a new research report. On top of being an inequality issue, there