People gather at the entrance for the New York State Department of Labor offices in Brooklyn, which closed to the public due to the coronavirus disease outbreak March 20, 2020. Andrew Kelly | REUTERS What should I do now? It’s a fast-growing and widespread concern when it comes to managing money in the middle of
Month: March 2020
This is a live blog. Please check back for updates. Global cases: More than 529,500 Global deaths: At least 23,900 U.S. cases: At least 83,800 U.S. deaths: At least 1,200 The data above was compiled by Johns Hopkins University. All times below are in Beijing time. 8:58 am: Los Angeles launches program to produce 5 million
People walk by the New York Stock Exchange (NYSE) on March 09, 2020 in New York City. Spencer Platt | Getty Images U.S. stock futures were relatively flat on Thursday night following a sharp rally sparked by increasing expectations of massive fiscal stimulus while investors shook off grim unemployment data. Dow Jones Industrial Average futures
Brendan McDermid | Reuters It might be premature to declare the bear market dead, but Thursday’s action sure checked off some important boxes. Conventional Wall Street wisdom is that bear markets, or 20% declines from 52-week highs, die on bad news, and Thursday featured some of the worst the U.S. economy has ever seen. Nearly
Yellow Dog Productions What does the legislation do? The bill — the Coronavirus Aid, Relief and Economic Security Act — expands unemployment insurance, a program enacted in 1935 to provide temporary income support for workers who lose their jobs. The legislation does three primary things: offers bigger unemployment checks, increases the duration of those payments and extends
Sen. Chris Van Hollen on Thursday sought to reassure small business owners who already had to lay off their workers about a major facet of the Senate’s $2 trillion coronavirus economic stimulus package. “If you use these funds to rehire those employees … then you qualify,” the Maryland Democrat said on CNBC’s “Squawk Box.” ”There are
New York Governor Andrew Cuomo speaks during his daily news conference amid the coronavirus outbreak on March 20, 2020 in New York City. Bennett Raglin | Getty Images New York Gov. Andrew Cuomo called a $2 trillion stimulus bill designed to ease the economic impact of the coronavirus pandemic sweeping across the country “irresponsible” and
This is a live blog. Please check back for updates. 9:27 am: Mnuchin says coronavirus stimulus checks will come within three weeks Treasury Secretary Steven Mnuchin said Thursday that people will start getting relief checks within three weeks, as the country reels from the coronavirus pandemic. Mnuchin spoke to CNBC the morning after the Senate
Morgan Stanley CEO James Gorman told his employees that despite the upheaval caused by the coronavirus pandemic, their jobs will be secure through this year. “I am sure some, if not many, of you are worried about your jobs,” Gorman said Thursday in a staff memo. “While long term we can’t be sure how this
GaudiLab | iStock | Getty Images If you’re working from home to reduce your exposure to coronavirus, don’t expect to write off the cost on your 2020 taxes. Employees who work out of their abode full-time – including the legions of people recently ordered to practice social distancing – have lost a key tax benefit:
Small businesses are getting a potential lifeline from Congress. The massive $2 trillion economic rescue package — expected to get final approval from Congress on Friday — includes provisions aimed at helping smaller employers weather the economic storm brought on by the coronavirus pandemic. “We are cautiously optimistic that this will provide the cash flow
U.S. stock futures were flat in early trading Wednesday night as markets tried to build on recent strength in the Dow Jones Industrial Average and S&P 500. The two indexes have just posted their first back-to-back gains since February. Fueling the rally is the hope that the White House and Senate will soon agree to
An employee works next to shoes on display inside the flagship store of sporting-goods giant Nike in Shanghai on March 16, 2017. Johannes Eisele | AFP | Getty Images American companies in China are still betting on the local consumer, even if business disruptions from the coronavirus are dragging down revenues. A survey of 119
Source: Morgan Stanley Morgan Stanley, one of the world’s biggest wealth managers, said its online trading portal for wealthy clients went down on Wednesday. The bank’s message for clients was to call a service representative to place trades, rather than using the company’s website. A spokeswoman for the New York-based firm declined to immediately comment.
An ambulance sits outside the US Capitol in Washington, DC, March 23, 2020, as the Senate continues negotiations on a relief package in response to the outbreak of COVID-19, known as the coronavirus. Saul Loeb | AFP | Getty Images The historic stimulus package Congress is expected to pass to inject relief into an economy
A Spanish soldier stands next to beds set up at a temporary hospital for vulnerable people at the Fira Barcelona Montjuic centre in Barcelona on March 25, 2020, during the new coronavirus epidemic. Pau Barrena | AFP | Getty Images This is a live blog. Please check back for updates. Global cases: At least 416,686,
Michael Wirth, CEO, Chevron, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galasia | CNBC Chevron will slash capital spending by $4 billion this year and suspend share buybacks, the latest oil company to cut costs in the face of an unprecedented slide in oil prices. Oil has crashed by
A customer views cars on display in a showroom of the Avilon dealership owned by the Ford Motor Company in Moscow. Anton Novoderezhkin/TASS (Photo by Anton NovoderezhkinTASS via Getty Images) Anton Novoderezhkin | TASS | Getty Images Check out the companies making headlines after the bell. Micron Technology — The semiconductor company’s stock jump 5% in
Stocks’ swift and steep sell-off is providing the type of buying opportunity that doesn’t come around all that often, and investors should take advantage of the downturn, according to Ariel Investments’ chairman John Rogers. “I think this is a maybe once in a lifetime opportunity to buy stocks at bargain prices,” he said Wednesday night
Everyday Americans are about to get a one-time cash infusion. As part of a relief bill to combat the economic impact of the coronavirus pandemic, the government is expected to provide payments of up to $1,200 for individuals or $2,400 for married couples, up to a certain income threshold, as well as $500 per child.
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