Finance

Warren Buffett Gerry Miller | CNBC Warren Buffett said Saturday he is optimistic that the U.S. economy will re-emerge even after being dealt a body blow by the coronavirus pandemic.  “Nothing can basically stop America,” said Buffett, chairman and CEO of Berkshire Hathaway, from the conglomerate’s first virtual shareholder’s meeting from Omaha, Nebraska. “The American

Take a look at some of the biggest movers in the premarket: Exxon Mobil (XOM) – Exxon posted a GAAP loss of 14 cents per share, and a non-GAAP profit of 53 cents per share. The consensus estimate was for a breakeven quarter. The company announced a 30% cut in capital spending and will also

9:04 am: Chevron CEO says oil demand has bottomed Chevron CEO Michael Wirth said that the drop-off in demand wrought by the coronavirus pandemic has likely reached a bottom. “This quarter looks like in our industry we’re seeing a bottom … first quarter we were on a bit of a downward trajectory through the quarter, certainly

RBS’ standalone digital bank Bo. RBS British state-backed bank RBS has dropped its standalone digital bank Bo following a tumultuous launch and a global pandemic that has forced the lender to refocus its investment strategy. RBS launched Bo, an app-based account accompanied by a yellow payment card, back in November on Google and Apple’s app

A man cleans up on the trading floor, following traders testing positive for Coronavirus disease (COVID-19), at the New York Stock Exchange (NYSE) in New York, U.S., March 19, 2020. Lucas Jackson | Reuters Traders have had to rapidly adjust their day-to-day routine as the corornavirus pandemic has forced many around the world to work

Western Digital hard drives are shown for sale at an Office Depot Inc store in Encinitas, California. Mike Blake | Reuters Check out the companies making headlines after the bell. Amazon — The e-commerce giant’s stock tumbled 5% in extended trading after the company posted its first-quarter financial results. The company reported first-quarter earnings of

Take a look at some of the biggest movers in the premarket: Twitter (TWTR) – Twitter reported quarterly profit of 11 cents per share, a penny a share above estimates. Revenue and the number of monetizable daily active users beating forecasts as well. Twitter is not giving any guidance for the current quarter or the

Market researcher James Bianco warns April’s big run will collapse. His reason: Investors are too bullish. “I understand the market has been up a lot since the March low. But what I see in the market is a retracement rally that looks very similar to the first type of rallies that you get in protracted

The Federal Reserve painted a dour picture of current conditions and pledged Wednesday to continue its historically aggressive policy stance until it is comfortable that the U.S. economy is back on its feet. Following this week’s Federal Open Market Committee meeting, the central bank said it would maintain its current interest rate target between 0%

This is Wednesday’s Federal Open Market Committee statement after the latest Fed meeting. Given the unprecedented circumstances brought on by the coronavirus crisis, as well as the Fed’s extensive actions to mitigate the pandemic, the central bank has issued statements with more frequency and variance than typical. The Fed issued three statements in March alone.

[The stream is slated to start at 2:30 pm ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell was scheduled to meet with the press via teleconference Wednesday afternoon following the Federal Open Market Committee meeting. The Fed just kept its benchmark interest

Federal Reserve chairman Jerome Powell said more stimulus is needed to ensure a robust economic recovery from the coronavirus crisis. “It may well be the case that the economy will need more support from all of us if the recovery is to be a robust one,” Powell said in a virtual press conference on Wednesday following the

An employee assembles an excavator at the Caterpillar Inc. manufacturing facility in Victoria, Texas. Callaghan O’Hare | Bloomberg | Getty Images Caterpillar experienced a sales drop in the first quarter as the coronavirus pandemic disrupted demand for construction and mining. The industrial giant on Tuesday reported revenues of $10.6 billion in the first quarter, a 21%

HSBC building in the Canary Wharf district of London, U.K. Leon Neal | AFP | Getty Images HSBC, Europe’s largest bank, is expected to release its first-quarter financial report card today — and some investors said they’re anticipating a “dramatic” fall in earnings due to the coronavirus pandemic. The London-headquartered bank derives the bulk of its

Jeffrey Gundlach, CEO of DoubleLine, said on Monday the stock market could sell off again to retest the low in March as he believes investors are too optimistic about the economic recovery from the coronavirus pandemic. “I’m certainly in the camp that we are not out of the woods. I think a retest of the

Charging Bull Statue is seen at the Financial District in New York City, United States on March 29, 2020. Tayfun Coskun | Anadolu Agency | Getty Images Stocks futures fell slightly on Sunday night, following oil prices lower, while investors assessed the possibility of re-opening the global economy after the coronavirus outbreak. Dow Jones Industrial Average

Monty Bennett and executives from Braemar Hotels and Resorts ring the closing bell at the NYSE on April 25th, 2018. Source: NYSE Even as the U.S. small business relief program is set to reopen Monday with fresh funding, the full extent that public companies tapped the emergency facility is only now becoming clear. More than

File photo of skulls of White Rhinos and the snares that have entrapped them stand as a stark reminder of the ongoing battle in South Africa to protect these majestic, gentle giants of the African bush. Ilan Godfrey | Getty Images Ryan Tate is supposed to be in South Africa right now helping to fight

A driver adjusts his face mask as Uber and Lyft drivers with Rideshare Drivers United and the Transport Workers Union of America conduct a ‘caravan protest’ outside the California Labor Commissioner’s office amidst the coronavirus pandemic on April 16, 2020 in Los Angeles, California. (Photo by Mario Tama/Getty Images) Mario Tama Some gig workers may

Comstock | Stockbyte | Getty Images “Scary,” “unbelievable,” “so dramatic,” “unprecedented,” “very visceral”: These are among the choice words Wall Street veterans used to describe what was, for the oil market, a week for the history books. On Monday, for the first time on record, West Texas Intermediate (WTI), the U.S. oil benchmark, plunged below