Virtu Financial founder Vincent Viola said Friday that the strength of the U.S. economy is a signal that now is a good time to buy stocks despite the recent sell-off. Viola told CNBC’s Scott Wapner on “Halftime Report” that the labor market showed that the U.S. economy was still strong. “I am of the opinion
Month: March 2020
The recent stock market meltdown may have dented Americans’ retirement savings, but there’s a silver lining: The downturn made one common retirement strategy less costly for investors. The strategy, known as a Roth IRA conversion, involves changing a traditional, pre-tax retirement account — such as a 401(k) plan or a qualified individual retirement account — to an
This is a live blog. Please check back for updates. All times below are in Eastern time. Global cases: More than 98,704, according to data compiled by Johns Hopkins University. Global deaths: At least 3,383, according to data compiled by Johns Hopkins University. US cases: At least 233, according to data compiled by Johns Hopkins University. US deaths:
Visa Inc. credit and debit cards are arranged for a photograph in Washington, D.C., U.S., on Monday, April 22, 2019. Andrew Harrer | Bloomberg | Getty Images Visa warned on Monday that its second-quarter revenue growth would be slower than its previous forecast, becoming the latest payments services provider to be affected by the coronavirus
Traders work during the opening bell at the New York Stock Exchange (NYSE) on February 28, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images The S&P 500 has never behaved like this, but Wall Street strategists say get used to it. Investors just witnessed the equity benchmark swinging
Traders work on the floor of the New York Stock Exchange on February 27, 2020. Scott Heins | Getty Images Fears that the fast-spreading coronavirus will disrupt global supply chains and tip the economy into a recession are gripping investors on Wall Street. In a tumultuous week for stocks, the 30-stock Dow swung 1,000 points
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
The fear of flying caused by the coronavirus outbreak is reminiscent of 9/11, Southwest Airlines CEO Gary Kelly told CNBC on Thursday. “9/11 wasn’t an economically driven issue for travel. It was more fear, quite frankly, and I think that that’s really what’s manifested this time,” Kelly said on “The Exchange.” He said the lack of
People load Clorox into their car in the Costco parking lot after the first confirmed case of coronavirus was announced in New York State, in Brooklyn, New York, March 2, 2020. Andrew Kelly | Reuters Costco reported stronger sales than analysts were expecting Thursday, thanks in part to a boost the company received from consumers stocking
Robinhood co-founder and co-CEO Vlad Tenev speaks onstage during the TechCrunch Disrupt New York event on May 10, 2016. Noam Galai | Getty Images for TechCrunch Rivals to popular investing app Robinhood aren’t jumping at the opportunity to celebrate the company’s recent outage. The U.S. commission-free trading platform experienced a massive outage that began on
My first experience with the small, but rapidly growing movement to eliminate handshaking was in a chiropractic office in Singapore two weeks ago. “Are you shaking hands? Some people aren’t these days,” the chiro said, extending his hand before awkwardly retracting it. I did — to break the oddness of the moment — but
Traders work on the floor at the New York Stock Exchange, March 2, 2020. Brendan McDermid | Reuters The world economy will bounce back quickly from the coronavirus outbreak, and investors should buy into cyclical stocks to catch the comeback, a top JPMorgan strategist said. The hit to the global economy during the first quarter
The gender wage gap has remained remarkably stubborn for decades. Still, gains are being made. As of 2018, women earned 85% of what men earned, according to a Pew Research Center analysis of hourly earnings of both full- and part-time workers in the U.S. That’s up from 67% about one generation ago. Although women continue
This is a live blog. Please check back for updates. Global cases: At least 95,270, according to the latest figures from the World Health Organization Global deaths: At least 3,280, according to the latest figures from the WHO All times below are in Beijing time. 8:15 am: Crisis could wipe out $211 billion from Asia Pacific economies, S&P
Hyatt Regency Orlando International Airport. Source: Orlando International Airport Hyatt Hotels said on Monday it was withdrawing its 2020 earnings outlook, as the coronavirus outbreak spreads across the globe hurting travel demand. The company had previously forecast adjusted profit for 2020 between $760 million and $780 million. Greater China revenue per available room (RevPAR) has been
People pass a sign for JPMorgan Chase at it’s headquarters in Manhattan, New York City. Spencer Platt | Getty Images JPMorgan Chase has begun sending hundreds of its traders and salespeople in New York and London to backup locations as Wall Street girds itself for the coronavirus. The bank plans on moving approximately half its
Greycroft chairman Alan Patricof said Thursday the recent market pullback was a “blip” and that investors should remain calm. “This is a blip, and we’ve seen a lot of blips in the last 20 years,” Patricof said on CNBC’s “Closing Bell.” Stocks sold off dramatically again on Thursday, continuing a volatile period of trading that
For everyday Americans, there’s some good news to the coronavirus fears that are driving investors to safe-haven investments likeTreasurys. The yield on the benchmark 10-year Treasury note, which moves inversely to price, sank more than 11 basis points to an all-time low of 0.906% on Tuesday in the wake of an emergency rate cut by the
Getty Images 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 95,700, according to data compiled by Johns Hopkins University. Global deaths: At least 3,280, according to data compiled by
A woman wearing a protective face mask to prevent contracting the coronavirus enters a subway station in Milan, Italy, March 4, 2020. Guglielmo Mangiapane | Reuters First quarter U.S. earnings estimates have been declining since coronavirus concerns became known toward the end of January, but Europe — now the cutting edge of the coronavirus epidemic
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