Jeff Bezos Getty Images Jeff Bezos lost $7 billion in paper wealth overnight, and more than $18 billion over the past month, as Amazon’s share price has plunged on fear that the coronavirus outbreak will slow the global economy. The world’s richest person saw his wealth drop to $110 billion overnight, down from $117 billion,
The stock market continues to slide as coronavirus concerns persist, but shares of Amazon are looking like a buying opportunity, CNBC’s Jim Cramer said Monday. “I like Amazon right here,” Cramer said on “Squawk on the Street.” “I think you start a position in Amazon absolutely.” Amazon’s stock was down more than 2% on Monday and
GSO Images When the stock market goes haywire, gold often becomes the “gold” standard in the eyes of everyday investors. True to form, gold is coming off its best week since 2016, as fears around the global spread of the coronavirus led to a sharp selloff in the stock market and nudged investors to retreat to what they perceived
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. Global cases: More than 111,200, according to data compiled by Johns Hopkins University. Global deaths: At least 3,890, according to data compiled by Johns
Take a look at some of the biggest movers in the premarket: Carnival Corp. (CCL), Royal Caribbean (RCL), Norwegian Cruise Line (NCLH) – Cruise line stocks are under further pressure today after the U.S. State Department recommended that Americans avoid trips on cruise ships in an effort to contain the spread of the coronavirus. Exxon
Economist Mohamed El-Erian said Monday the U.S. stock market may drop 30% from last month’s record highs before finding a bottom. “This is going to be treacherous for a while. I would advise most retail investors to stay on the sidelines, not panic. There will be opportunities but they’re not now,” the chief economic advisor at
The 2020 Cadillac XT5. Mack Hogan | Getty Images The Cadillac XT5 is one of General Motors’ quiet success stories. It’s not the flashiest or best-known luxury vehicle in its class, but it’s consistently one of the bestselling luxury vehicles in the country. On the face of it, that makes sense. The XT5 is an
Vladimir Putin just sparked what could end up being one of the ugliest oil price wars in modern history, and American oil and gas companies may be the victims. This weekend Saudi Arabia dropped the oil bomb. It not only cut its forward crude price to Chinese customers by as much as $6 or $7
The Toyota Camry has a reputation, even within Toyota itself, for being a humdrum car. But gosh does it ever sell. The Camry was the top-selling passenger car in the United States in 2019, and is one of the best-selling vehicles of all time. It remains one of Toyota’s most successful vehicles of any shape,
Take a look at some of the biggest movers in the premarket: Costco (COST) – Costco reported quarterly earnings of $2.10 per share, 4 cents a share above estimates. Revenue also beat forecasts. Costco has been experiencing a surge in sales of consumer staples in recent weeks due to the coronavirus outbreak, and reported a
Getty Images Recent wild market swings have led some 401(k) investors to clamber into safer assets. However, you may want to press pause before you increase your exposure to bonds or cash-type funds. Net trading activity in 401(k) saving plans was higher in the last week of February than all of the combined activity in
U.S. Attorney Matthew Schneider speaks during a news conference March 6, 2020 to discuss charges against former UAW President Gary Jones in Detroit. U.S. Attorney’s Office A takeover of the United Auto Workers union by the U.S. government to eliminate a “culture of corruption and greed” remains an option, according to federal officials. U.S. Attorney
Council on Foreign Relations economist Benn Steil says the Federal Reserve’s half percentage point cut in interest rates may not be enough to keep the economy on track as the coronavirus spreads. “None of us would be surprised to see the Fed cutting further in the coming months,” the council’s senior fellow and director of
V-shape? U-shape? L-shape? Wall Street strategists are engaged in a fight over whether the coroanvirus outbreak is a one-quarter hit to earnings and the economy or whether it is a multi-quarter phenomenon. The multi-quarter phenomenon appears to be winning. But there are signs of hope. One story that has gone out the window in the
Tetra Images Like millions of American women, I’ve experienced widowhood. According to the U.S. Census Bureau, as of 2019, there were almost 15 million widows and widowers in the country. About 77% of these individuals, or 11.4 million, were women. (Some widowed people later remarry, so the total number of individuals experiencing widowhood is actually
The coverage on this live blog has ended — but for up-to-the-minute coverage on the coronavirus, visit the live blog from CNBC’s Asia-Pacific team. All times below are in Eastern time. Global cases: At least 101,587, according to data compiled by Johns Hopkins University. Global deaths: At least 3,460, according to data compiled by Johns Hopkins University. US cases:
The “Fast Money” traders share their first moves for the market open. Steve Grasso was a buyer of Snap. Brian Kelly was a buyer of SPDR Gold Shares. Karen Finerman was a seller of S&P 500 ETF puts. Guy Adami was a buyer of FireEye. Disclaimer Trader disclosure: Brian Kelly is Long Bitcoin, Ethereum. Long GLD,
Source: Leidos A government contractor Stifel deemed “The Terminator” could be one of the best bets to lead the market back after the coronavirus sell-off, according to Wall Street analysts. Analysts have been getting behind Leidos as the outbreak has spread around the world. In the last three weeks, Wells Fargo and Stifel upgraded the stock to
Think twice before celebrating that large refund check from Uncle Sam. The IRS had doled out 45.5 million refunds as of Feb. 28, with the average refund check totaling $3,064. That amount is just $4 less than last year’s average refund. Filers have reasons to celebrate their small windfall. Most have ambitious plans for their
Damage to the Basement East music venue near the Five Points area is seen on Thursday March 05, 2020 in Nashville, Tennessee. Tornados hit the area early Tuesday morning. Matt McClain | The Washington Post | Getty Images Businesses small and large are working together toward recovery after tornadoes ripped through central Tennessee Tuesday morning,