Energy companies are coming under pressure as oil prices sink, but Chevron CEO Michael Wirth said the company has no plans to slash its dividend. “Our dividend is our number one priority and it’s very secure,” he said Tuesday on CNBC’s “Squawk Box.” ”We’re taking actions to preserve cash. It will have some impact on production
Month: March 2020
JohnnyGreig | E+ | Getty Images We are in a challenging time, facing rapidly evolving information about the coronavirus and the effects on how we work and live. Markets continue to function and are reflecting this constant change, which means greater volatility. Those circumstances don’t make it easy for investors to stay in their seats.
Grace Cary The coronavirus pandemic is continuing its assault on the U.S. economy, forcing businesses to close, lay off workers or reduce their hours. Many Americans may need fast cash, beyond what can be generated by strict budgeting. But where to turn? Here are some of the possibilities, according to financial advisors. Unemployment insurance “File
This is a live blog. Please check back for updates. Global cases: At least 334,981, according to the latest figures from the World Health Organization Global deaths: At least 14,652, according to the latest figures from the WHO All times below are in Beijing time. 8:54 am: Washington state Gov. Jay Inslee issues stay-at-home order The state
People wear masks as they cross a street during evening rush hour, as the country is hit by an outbreak of the novel coronavirus, in Beijing, China, March 3, 2020. Thomas Peter | Reuters BEIJING — An early look at Chinese business conditions in March shows little indication the economy has recovered much from the
A man wearing a face mask takes a selfie at the Charging Bull statue on March 23, 2020 near the New Stock Exchange in New York City. Angela Weiss | AFP | Getty Images Markets have historically “reacted most negatively” to unknown diseases, tending to plunge more during epidemics as compared to natural disasters such
Rep Ilhan Omar (D-MN) takes part in a discussion on “Impacts of Phobia in Our Civic and Political Discourse” during the Muslim Caucus Education Collective’s conference in Washington, July 23, 2019. Kevin Lamarque | Reuters Democratic Reps. Ilhan Omar of Minnesota and Ayanna Pressley of Massachusetts introduced legislation on Monday that would suspend student loan
White House Coronavirus Task Force Coordinator, Dr. Deborah Birx, answers a question during the daily briefing on the novel coronavirus, COVID-19, at the White House on March 18, 2020, in Washington, DC. Brendan Smialowski | AFP | Getty Images New York and New Jersey are seeing coronavirus attack rates at least five times higher than
Michael Corbat, CEO, Citigroup, speaking at the World Economic Forum in Davos, Switzerland, January 21, 2020. Adam Galica | CNBC Citigroup CEO Michael Corbat said the bank will send $1,000 awards to some employees to compensate them for the “financial burden” of working during the coronavirus pandemic. “We are going to provide more than 75,000
President Donald Trump has long pointed to the stock market’s success under his administration as a tangible endorsement of his economic policies and had often boasted about the Dow Jones Industrial Average’s gains since his election. That was, of course, before investors knew about the new coronavirus. With COVID-19 and measures to contain its spread
Getty Images Several Democratic senators have teamed up to propose giving Social Security beneficiaries an extra $200 per month in the wake of the coronavirus pandemic and the economic devastation it is causing. The plan was put forward last week by Sens. Elizabeth Warren, D-Mass.; Chuck Schumer, D-N.Y.; and Ron Wyden, D-Ore. The extra income
Coronavirus hits forecasts Chetan Ahya, chief economist at Morgan Stanley, said the economic pain stemming from the pandemic “is definitely going to hurt” the firm’s forecasts: “Essentially, what we have is a significant decline in personal consumption expenditure as well as the business investment in the second quarter, so, this is definitely going to hurt
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 343,421 Global deaths: At least 14,790 US cases: At least 35,224 US deaths: At least 471 The data
Corporate earnings are about to do something they haven’t done since the 2008 financial crisis: Turn negative. According to PNC Financial’s Amanda Agati, the coronavirus fallout could dramatically hurt companies through the second quarter. “Q1 expectations are in negative territory at about 1.5%. It looks like Q2 will be down about 1%,” the firm’s chief
A trader works on the floor of the New York Stock Exchange in New York, the United States, March 18, 2020. Michael Nagle | Xinhua News Agency | Getty Images 7:10 am: Stocks set to fall, Dow futures down 500 Markets were set to decline at the open on Monday as investors wait on an
Twenty-two days. That’s all it took for the S&P 500 to fall 30% from its record high, the fastest drop of this magnitude in history. The second, third and fourth quickest 30% pullbacks all occurred during the Great Depression era in 1934, 1931 and 1929, respectively, according to data from Bank of America Securities. “This
European markets are poised to open lower Monday as the coronavirus outbreak continues to take its toll on the international community and financial markets. London’s FTSE index is seen opening 131 points lower at 4,881, Germany’s DAX is expected to open 496 points lower at 8,362 and France’s CAC is seen 208 points lower at
A staff worker wearing a protective mask and protective suit checks a visitor’s body temperature with a temperature gun by a monitor showing the current stock information at the Shanghai Stock Exchange Building on March 20, 2020 in Shanghai, China. Health authorities of China said the country has passed the peak of the COVID-19 epidemic
The adage “keep calm and carry on” might, in the end, be the best advice for investors to follow during times of extreme market volatility such as the present. While it might seem counterintuitive to sit back and relax while stocks post swift and steep losses, for investors with longer-term time frames it typically pays
US Secretary of Education Betsy DeVos Saul Loeb | AFP | Getty Images U.S. Department of Education Secretary Betsy DeVos announced on Friday that student loan borrowers could put their monthly payments on pause for at least 60 days during the coronavirus outbreak. DeVos said this pause, coupled with the suspension of interest on student
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