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
(L-R) Rita Wilson and Tom Hanks attend the 77th Annual Golden Globe Awards at The Beverly Hilton Hotel on January 05, 2020 in Beverly Hills, California. Steve Granitz | WireImage | Getty Images Academy Award-winning actor Tom Hanks and his wife Rita Wilson have tested positive for the coronavirus, Hanks revealed Wednesday. Hanks and Wilson
If coronavirus infections decline and Congress passes a fiscal stimulus package, Invesco’s Kristina Hooper says, stocks will make a sustainable comeback. She made the call as the Dow was plunging into a bear market, which reflects a 20% or more drop from 52-week highs. “I don’t think we’ve hit a bottom yet,” the firm’s chief
The stock market’s recent extreme volatility has made it advantageous for investors to pick individual equities, Bank of America strategist Savita Subramanian told CNBC on Wednesday. “This is an environment where passive, ETF investing might not be the most prudent way to invest,” Subramanian said on “Fast Money.“ That’s because the market’s sell-off in response to concerns
US Treasury Secretary Steven Mnuchin arrives to testify during a House Ways and Means Committee hearing about the Fiscal Year 2021 budget request on Capitol Hill in Washington, DC, March 3, 2020. Saul Loeb | AFP | Getty Images If coronavirus is keeping you from filing your tax return in a timely fashion, it just
Employees work on Boeing 737 MAX airplanes at the Boeing Renton Factory in Renton, Washington on March 27, 2019. Jason Redmond | AFP | Getty Images Boeing on Wednesday told employees that it was immediately suspending hiring and implementing other measures to preserve cash as the rapid spread of coronavirus roils the air travel industry.
A worker is seen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 28, 2020. Brendan McDermid | Reuters Check out the companies making headlines in midday trading. Apache Corp. – Shares of the exploration and production company slid more than 18% on the back of declining oil prices. Apache
Rockstar energy drink Arun Nevader | Getty Images He failed as a politician. He couldn’t sell his business idea to a vodka company. And he mortgaged his house for $50,000 to launch a business everyone said would flop. But today, Russell Weiner is a cash-rich billionaire after selling Rockstar Energy Drinks to PepsiCo for $3.85
Michael Corbat, CEO, Citigroup, speaking at the World Economic Forum in Davos, Switzerland, January 21, 2020. Adam Galica | CNBC CEO Michael Corbat said Wednesday that the current turmoil caused by the coronavirus isn’t one stemming from the financial system. “This is not a financial crisis,” Corbat said during the White House meeting. “The banks
Hero Images | Hero Images | Getty Images A payroll tax cut is one idea President Donald Trump is considering in response to the negative effects of coronavirus on the U.S. economy. Experts say such a move would not necessarily be a magic bullet. One reason why: It could impair funding to Medicare and Social
Washington Gov. Jay Inslee eating a slice of cherry pie at A La Mode Pies on Pi Day in 2018 Chris Porter Last year, Three Babes Bakeshop sold more pies for Pi Day than for Thanksgiving. Usually around this time of year, it has sold out of the 3,000 pies it makes for the holiday
A man looks for products at a supermarket after panic buying due to the Coronavirus. Chris Putnam | Barcroft Media | Getty Images Panic buying has been rife amid the global spread of the new coronavirus, with consumers around the world stockpiling goods like hand sanitizer, canned foods and toilet paper. The trend has seen
Take a look at some of the biggest movers in the premarket: PepsiCo (PEP) – The snack and beverage giant announced a deal to buy energy drink maker Rockstar Energy for $3.85 billion, expanding its presence in the energy drink segment. Apple (AAPL) – Bank of America Securities cut its price target for the stock
CNBC’s Jim Cramer said Tuesday that he feels better about buying stocks now that President Donald Trump publicly acknowledged the need for coronavirus relief for workers and small businesses. Trump plans Tuesday to meet with Senate and House Republicans to discuss “a possible payroll tax cut” and other “substantial relief” as coronavirus cases in the
As a personal finance reporter at CNBC, when the stock market drops, as it has from the coronavirus outbreak, I write stories reminding our readers to remain focused on their long-term goals and to resist panic. Beneath that advice, however, I usually have a nagging feeling – a wish that I was more worried by the latest
A person wears a face mask as a precaution against coronavirus in New York, on March 2, 2020. Tayfun Coskun | Anadolu Agency | Getty Images An Uber driver. A Starbucks barista. A Walmart store employee. Retailers, fast-food chains and customer service-related companies face a new challenge as the coronavirus outbreak spreads in the U.S.:
Traders work at the New York Stock Exchange. Johannes Eisele | AFP | Getty Images U.S. stock futures fell sharply on Tuesday night, pointing to another volatile session on Wall Street following a massive rally. Around 7:40 p.m. ET, Dow Jones Industrial Average futures were down about 366 points, indicating a loss of more than
skynesher | Getty Images When life changes, so do your finances. Any new relationship, or new stage in one, means you’ll need to tweak the way you pay expenses and plan for the future. It may be hard to keep focused on some of the less-thrilling money stuff when your heart is filled with joy.
Oil prices are already trading at their lowest level in four years after talks between OPEC and its allies deteriorated, and Goldman Sachs global head of commodities research Jeffrey Currie said that things are likely going to get worse. “The next six months are likely to be painful,” he said Tuesday on CNBC’s “Halftime Report.” “I
Ngampol Thongsai / EyeEm Americans’ health may not be the only thing at stake as the coronavirus continues its unrelenting spread in the U.S. The virus could also prove financially crippling for many individuals. “There are all kinds of pathways for people to be financially affected by this,” said John Graves, an associate professor of