Testing capacity for the coronavirus in the U.S. will dramatically increase in the coming days, former Food and Drug Administration Commissioner Scott Gottlieb told CNBC on Friday. “By probably next week, we’ll be at capacity of tens of thousands of tests a day,” Gottlieb said on “Squawk Box.” “Certainly by the end of next week, I think
Slack shares plunged in extended trading on Thursday after the maker of messaging software provided a disappointing forecast for the fiscal first quarter, citing uncertainty surrounding the coronavirus. The stock sank more than 20% to $17.03. That adds to an almost 10% drop during regular trading, as the shares fell alongside the broader market, which
Take a look at some of the biggest movers in the premarket: Walt Disney (DIS) – Walt Disney announced it will close Disneyland and other theme parks in Southern California through the end of the month, in response to the coronavirus outbreak. NBCUniversal and CNBC parent Comcast (CMCSA) is taking similar action, closing its Universal
As the coronavirus spreads across the globe, and travel disruptions — from visas cancellations to flight suspensions — increase by the day, many people are wondering what to do about their summer holidays, if anything at all. Will the situation be worse this summer — or better? Which countries will be safe? And is flying
Jim Cramer Scott Mlyn | CNBC Investors should be willing to put cash to work after the market’s worst day since “Black Monday” in 1987, CNBC’s Jim Cramer said Friday. “There’s trillions of dollars on the sideline, waiting and waiting and waiting,” Cramer said on “Squawk Box.” “They’ve got what they’ve been waiting for.” He asked,
Daniel Trumbower was working from home in Monrovia, Maryland, in early February when his wife called: A tornado warning had been issued for their town. Initially dubious — a tornado in Monrovia? Yeah, right — he looked outside to check the sky and saw a large, heavy-duty garbage can soaring through the air. He ran
Pedestrians pass in front of a GAP store in New York. Scott Mlyn | CNBC Gap Inc. on Thursday reported fourth-quarter earnings and sales that topped analysts’ estimates, as it announced a slew of new leadership changes. Its shares initially jumped more than 5% in after-hours trading on the news. The stock was recently up about
Market researcher James Bianco calls the Federal Reserve’s move to pump $1.5 trillion into the market the “nuclear option” to calm investors gripped by coronavirus fears. Only, it didn’t work Thursday. Instead, stocks saw their worst day since the 1987 Black Monday market crash. “Financial markets are not recovering. It’s incredible to think that a
Billionaire investor and entrepreneur Mark Cuban said Thursday that he’s adding to one of his favorite tech companies as the stock market continues its dramatic slide on coronavirus concerns. “I bought some Twitter today. I’m a long-term holder there. I owned shares going into this decline. I don’t know what’s going to happen or when, but
Countries around the world are scrambling to rein in the coronavirus and understand its ultimate medical and economic impacts. One prominent business school is using the turmoil as a learning opportunity. The Wharton School at the University of Pennsylvania will soon begin offering a new course about the coronavirus — the disease that’s infected nearly 128,000
New York Mayor Bill de Blasio speaks to the media during a press conference at City Hall on January 3, 2020 in New York City. Eduardo Munoz Alvarez / Getty Images New York Mayor Bill de Blasio declared a state of emergency in the city on Thursday, saying large venues like Barclays Center and Madison
Mario Tama | Getty Images News In these difficult, confusing and, at times, scary days, it’s easy to get turned around in the market. Though we’ve never seen anything like the health scare that’s happening real time right now, we have seen financial markets deal with massive unknowns and take hits in the last twenty
Residential buildings Central Park Tower and 220 Central Park South (left) rise above Columbus Circle on December 26, 2018 in New York City. Gary Hershorn | Corbis News | Getty Images Plunging stocks and coronavirus fears are starting to hit the New York City real estate market. There were 44 open houses that had zero
Jamie Dimon, CEO of JP Morgan Chase, appears on CNBC’s Squawk Box at the 2020 World Economic Forum in Davos, Switzerland on Jan. 22nd, 2020. Adam Galica | CNBC JPMorgan Chase CEO Jamie Dimon was discharged from a hospital Thursday, one week after he underwent emergency heart surgery. “We are delighted to share with you the
Thanagon Karaket / EyeEm | EyeEm | Getty Images As the stock market sinks, you’ve probably already heard not to check your 401(k). Yet when it comes to steering your personal financial plan in a turbulent time, it’s still wise to take a proactive approach, according to Michael Liersch, a behavioral finance expert and global
President Donald Trump speaks about the U.S response to the COVID-19 coronavirus pandemic during an address to the nation from the Oval Office of the White House in Washington, U.S., March 11, 2020. Doug Mills | Reuters Small business owners on Main Street now have an economic lifeline that can help them weather the coronavirus
President Donald Trump should have asked Jeff Bezos and Bill Gates to assist the U.S. government with its response to the coronavirus, New York Times’ Thomas Friedman told CNBC on Thursday. Friedman, a foreign affairs columnist and Pulitzer Prize winner, said the U.S. has a logistics problem and a “cure problem” for the disease and the founders of Amazon
People pass a sign for JPMorgan Chase at it’s headquarters in Manhattan, New York City. Spencer Platt | Getty Images JPMorgan Chase on Thursday told managers to implement a plan to have employees based in offices in Manhattan, Brooklyn and Jersey City to start working from home in shifts beginning on Friday. “We are asking
The U.S. stock market will drop as much as 30% from last month’s highs as global economies go into coronavirus-driven recessions, said economist Mohamed El-Erian, who correctly predicted earlier in the week the selling would continue until a bear market was reached. The former CEO of investment powerhouse Pimco said on CNBC’s “Squawk Box” on Thursday that investors should not expect a quick
Luis Alvarez Investing is a young person’s game. I mean, I can understand the argument for ignoring short-term market dives when it’ll be decades before you need to actually touch the money. But what about retirees who need income today? Should retirees and near-retirees be cashing out of stocks on fears that a worldwide pandemic