Finance

The historic consumer price drop in April may be more than a temporary setback. Michael Gapen, Barclays’ head of US economics research, warns widespread job losses due to the coronavirus pandemic is radically changing Americans’ spending habits. He suggests the damage will last years. “Whether this is a permanent shift will in part depend on

Jin Lee | Bloomberg | Getty Images Check out the companies making headlines in midday trading.  GrubHub, Uber — Grubhub shares soared more than 27% on news that ride-hailing company Uber has approached the company with a takeover bid. Uber’s offer comes months after other outlets reported that food-delivery service Grubhub had hired advisors to explore strategic

Pedestrians wearing face masks walk past the New York Stock Exchange. Michael Nagle | Xinhua via Getty Images This is a live blog. Here’s the latest. 7:31 am: Hyatt Hotels to lay off 1,300 workers as virus hamstrings global travel Hyatt Hotels announced late Monday that it would lay off 1,300 workers around the globe

What a difference a year may make. CFRA’s Sam Stovall believes stocks will return to all-time highs in the next 12 months. “In other bear markets going back to 1929, and the average 13 month advance was 50%,” the firm’s chief investment strategist told CNBC’s “Trading Nation” on Monday. “We have a very good possibility

The Marriott hotel in Times Square is barricaded as much of the city is void of cars and pedestrians over fears of spreading the coronavirus on March 22, 2020 in New York City. Spencer Platt | Getty Images Check out the companies making headlines midday Monday: Marriott International — Shares of the hotel operator fell more

The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, April 26, 2020. Jeena Moon | Reuters U.S. stock futures fell on Sunday night after Wall Street posted consecutive rallies to end last week amid the prospects of

Richmond Federal Reserve President Thomas Barkin told CNBC that he still doesn’t expect negative interest rates to become official policy, even as markets pulled the central bank in that direction. Traders on Thursday priced in a negative federal funds rate by December 2020, lasting at least to January 2022, amid expectations that the central bank

Patrick Harker, President of Philadelphia Federal Reserve Bank, during the Fed’s annual Jackson Hole symposium in Wyoming. Gerard Miller | CNBC Philadelphia Federal Reserve President Patrick Harker warned Thursday that reopening the economy too quickly could have grave consequences. The central bank official posed two scenarios: The “more optimistic” one where the economy reopens in

A man wears a mask as he passes the New York Stock Exchange. Mark Lennihan | AP U.S. equities rallied on Friday, despite a historic jobs report showing more than 20 million Americans lost their jobs in April, bringing the unemployment rate to a staggering 14.7% due to the coronavirus shutdown. Investors shrugged off the

Check out the companies making headlines before the bell: SeaWorld Entertainment – The theme park operator reported a quarterly loss of 72 cents per share, 2 cents wider than expected, while revenue fell below estimates. SeaWorld closed its parks in mid-March due to the coronavirus outbreak, but said it remains confident in the resiliency of

People wait in line as SF-Marin Food Bank hands out 1600 food bags in San Francisco on April 20, 2020. Work furloughs and layoffs created by coronavirus shelter-in-place orders are driving thousands to seek food assistance. San Francisco Chronicle | Hearst Newspapers via Getty Images A record number of Americans just lost their job, and

U.S. stock futures rose early Friday morning after more gains in tech led to the Nasdaq Composite erasing all of its losses for 2020. Dow Jones Industrial Average futures were up by 235 points, implying an opening gain of about 276 points on Friday. S&P 500 and Nasdaq 100 futures also pointed to Friday opening

An airline pilot walks in front of a Tripadvisor store in Toronto Pearson airport. (Photo by Geovien So/SOPA Images/LightRocket via Getty Images) Geovien So | SOPA Images | LightRocket via Getty Images Check out the companies making headlines after the bell. Booking Holdings — The travel booking service’s stock whipsawed in extended trading after the

Lloyd Blankfein, the ex-Goldman Sachs CEO whose bank accepted bailout funds during the financial crisis, said that large companies should be “very reluctant” to take taxpayer money amid the coronavirus pandemic.  “Big companies should be very reluctant to take government money,” Blankfein said Thursday on CNBC’s Squawk Box in response to a question about how

A person walks past a Virgin Media mobile phone store, closed down due to the Covid-19 pandemic, in London on May 4, 2020. Tolga Akmen | AFP via Getty Images Liberty Global and Telefonica have agreed to combine their U.K. operations in a deal that will create a new giant in the country’s telecommunications industry.

One of the world’s leading authorities on Asia is worried Wall Street is miscalculating China’s efforts to reopen its economy. While it’s going relatively smoothly on the supply side, Yale University senior fellow Stephen Roach warns the demand side is struggling, and that’s a bad sign for the U.S. economy as it begins reopening. “Chinese consumers

Norwegian Cruise Line raised more than $2 billion in a mix of stock and debt, ensuring the company can outlast the coronavirus pandemic for at least the next year without any revenue if necessary, the company announced Wednesday. The company warned Tuesday that it might not have enough funding to get through the next 12 months. The fresh

Chinese authorities lifted a more than two-month ban on outbound travel from the city where the global pandemic first emerged. Hecto Retamal | AFP | Getty Images Millions of Chinese people kept their spending down during the first major holiday in China since the coronavirus outbreak.  During the Labor Day holiday that ran from May 1

‘I see rates rising continuously’ “Forty years of a bull market in bonds. It’s really hard to turn your head around, and say could this be a turning point? But I think history will say yes,” said Siegel. “I see rates rising continuously over the next several years.” Coronavirus risks sparked a flight to safety

A shopper wears a protective mask while browsing through the Island Cotton Company store as the state of Florida enters phase one of the plan to reopen the state on May 4, 2020 in Stuart, Florida. Joe Raedle | Getty Images The U.S. services sector contracted for the first time in about a decade last