U.S. stock futures dropped early Wednesday morning and pointed to sizable declines at the open, following the end of the worst first quarter on record for the Dow and S&P 500 spurred by the coronavirus sell-off. At around 2:45 a.m. ET, Dow Jones Industrial Average futures fell 681 points, indicating a Wednesday opening loss of about
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A Jeep Renegade rolls down an assembly line at Fiat Chrysler’s Melfi assembly plant in Italy in 2015. Michael Wayland / CNBC Check out the companies making headlines after the bell. Verint Systems — Shares of the analytics company tumbled 12% in extended trading after Verint Systems missed analysts’ estimates on both earnings and revenue in
A tattoo parlor is temporarily closed in the Brooklyn Borough of New York, U.S., on Friday, March 20, 2020. Photographer: Gabby Jones/Bloomberg via Getty Images Bloomberg The $2 trillion coronavirus relief law signed by President Trump last week has several incentives for struggling businesses to retain their employees instead of laying them off. The financial
Chinese customers wear protective masks as they line up single file to buy dumplings at a popular local shop on February 16, 2020 in Beijing, China. Kevin Frayer | Getty Images Asia Pacific banks will find it increasingly challenging to maintain their financial performance as economies around the world get hit by the coronavirus pandemic,
Economist Stephen Roach believes the country is sinking into an unprecedented recession. Roach, who’s former chairman of Morgan Stanley Asia, warns the coronavirus is spiraling the United States into a downturn that’ll be difficult to exit. “This is a sudden stop in the U.S. economy. The hope is we’ll get through this. But it’s at
A Johnson & Johnson building is shown in Irvine, California. Mike Blake | Reuters Check out the companies making headlines midday Monday: Johnson & Johnson — Johnson & Johnson shares jumped more than 7% after the company announced it has a coronavirus vaccine candidate, noting that human testing on the medication will begin in September.
An empty Leicester Square in central London on March 24, 2020 in London. British Prime Minister, Boris Johnson, announced strict lockdown measures urging people to stay at home and only leave the house for basic food shopping, exercise once a day and essential travel to and from work. Ollie Millington British tech start-ups are lobbying
Federal Reserve Chair Jerome Powell holds a news conference following the Federal Open Market Committee meeting in Washington, December 11, 2019. Joshua Roberts | Reuters The Mortgage Bankers Association in a dire letter to regulators Sunday warned that the U.S. housing market is “in danger of large-scale disruption,” due to efforts by the Federal Reserve
Hank Paulson David Orrell | CNBC Former Treasury Secretary Hank Paulson warned that the U.S. faces a “very difficult road ahead” after President Trump signed a historic $2 trillion coronavirus relief bill. Paulson, a key figure in helping the country avoid economic catastrophe during the 2008 financial crisis, drew on his experience from that tumultuous period
Brian Moynihan, Bank of America, speaking at the WEF at Davos, January 21, 2020 CNBC Bank of America CEO Brian Moynihan said that retail customers who are struggling because of the coronavirus pandemic can defer loan payments online with a simple two-click process. “What we’ve told people is we’ll defer payments,” Moynihan told CNBC’s Jim
In this photo taken March 20, 2020, cattle rancher Joe Whitesell rides his horse in a field near Dufur, Oregon, as he helps a friend herd cattle. Gillian Flaccus | AP U.S. farmers have endured a slew of financial hardships over the past few years. The U.S.-China trade war sent scores of farmers out of
The stock market has gone so haywire amid the coronavirus crisis that some strategists on Wall Street are giving up on forecasting what comes next. Over the past week or so, chief market strategists at BMO, Oppenheimer and Canaccord Genuity have all suspended their year-end targets on the S&P 500, blaming the unprecedented economic uncertainty that makes projecting
Getty Images Small businesses are lining up to get help from government loans. But they might not get it if they’ve taken venture capital or private equity money. A $2 trillion stimulus bill to blunt the economic effect of coronavirus has $350 billion earmarked for loans to businesses with fewer than 500 employees, managed through
The Robinhood application is displayed in the App Store on an Apple Inc. iPhone in an arranged photograph taken in Washington, D.C., U.S., on Friday, Dec. 14, 2018. Andrew Harrer | Bloomberg | Getty Images Robinhood’s recent show of goodwill came with strings attached, according to some users. On Monday, the trading start-up offered a
A sign hangs above the entrance to a Bank of America branch in Chicago, Illinois. Scott Olson Bank of America CEO Brian Moynihan said his bank’s 200,000-plus employees won’t have to worry about layoffs this year, joining banks including Morgan Stanley and Citigroup in making similar pledges. ”We don’t want our teammates to worry about their jobs
Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, chairs a symposium at the School of Medicine at Tsinghua University in Beijing, capital of China, March 2, 2020. Yan Yan | Xinhua News Agency | Getty Images Chinese President Xi Jinping called
The stock market’s three day win streak may be in jeopardy. Canaccord Genuity’s Tony Dwyer warns the S&P 500 just hit a level that sets the stage for another meltdown as the country copes with the coronavirus impact. “We put 2,575 as a level for this relief rally,” the firm’s chief market strategist told CNBC’s
Sanjay Mehrotra, CEO of Micron Technology, appears on CNBC’s Squawk on the Street at the 2020 World Economic Forum in Davos, Switzerland on Jan. 22nd, 2020. Gerry Miller | CNBC Check out the companies making headlines midday Thursday: Micron Technology — Shares of the semiconductor company rose 6.8% Thursday after beating Wall Street expectations on
A customer views cars on display in a showroom of the Avilon dealership owned by the Ford Motor Company in Moscow. Anton Novoderezhkin/TASS (Photo by Anton NovoderezhkinTASS via Getty Images) Anton Novoderezhkin | TASS | Getty Images Check out the companies making headlines after the bell. Micron Technology — The semiconductor company’s stock jump 5% in
An employee works next to shoes on display inside the flagship store of sporting-goods giant Nike in Shanghai on March 16, 2017. Johannes Eisele | AFP | Getty Images American companies in China are still betting on the local consumer, even if business disruptions from the coronavirus are dragging down revenues. A survey of 119