Across the country, parents are adjusting to a new normal. School and office closings mean that everyday education- and work-related activities, from business meetings to math lessons, now take place at home. As of March 19, at least 95,000 U.S. schools have been closed or are scheduled to close in response to the growing coronavirus
Month: March 2020
Small businesses are switching up their models in a fight to survive during the coronavirus crisis — some in unexpected ways. Businesses including condom-makers, gin producers and food manufacturers are seeing consumers react in different ways as they self-isolate or reduce social contact. Small businesses generate 44% of U.S. economic activity, and around half of
Gov. Gavin Newsom at a news conference in Sacramento, Calif., Monday, Sept. 16, 2019. Rich Pedroncelli | AP California Governor Gavin Newsom on Thursday issued a statewide order for all residents to ‘stay at home’ amid a coronavirus outbreak. “We need to bend the curve in the state of California,” Governor Gavin Newsom said, as
Main Street may be more resilient than Wall Street during the coronavirus crisis. Former Office of Management and Budget director David Stockman warns the pandemic is exposing risky speculation and shaky market fundamentals. “Wall Street is toast,” he told CNBC’s “Trading Nation” on Thursday. “It’s going to end as a financial crisis because the illusion
US President Donald Trump gestures as CEO of Bank of America Brian Moynihan (L) speaks during a meeting with banking leaders to discuss how the financial services industry can meet the needs of customers affected by COVID-19 at the White House in Washington, DC on March 11, 2020. Brendan Smialowski | AFP | Getty Images
U.S. Senate Minority Leader Sen. Chuck Schumer (D-NY) speaks during a news conference at the U.S. Capitol March 17, 2020 in Washington, DC. Alex Wong Senate Democrats are proposing that the federal government cancel student loan payments throughout the coronavirus outbreak and forgive at least $10,000 of the debt for each borrower. The plan unveiled
Senate Majority Leader Mitch McConnell (R-KY) talks to reporters after the Senate voted to acquit U.S. President Trump of both charges in his Senate impeachment trial in Washington, February 5, 2020. Jonathan Ernst | Reuters Senate Republicans are expected to unveil their proposal for a third coronavirus relief package Thursday afternoon as Washington moves swiftly
Yellow Dog Productions The economic fallout from the coronavirus is driving more Americans to seek unemployment benefits. However, the nation’s main financial backstop for laid-off workers is deficient — which could leave many Americans, especially gig workers, in a precarious situation, according to some experts. The $100 billion aid package President Trump signed into law on Wednesday,
Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer said Thursday that whatever happens on the other side of the coronavirus crisis CEOs should not benefit more than their employees. The “Mad Money” host was lamenting the moral hazards of the 2008 financial crisis when companies got bailouts and chief executives got incentives as many
A person wears a face mask as a precaution against coronavirus in New York, on March 2, 2020. Tayfun Coskun | Anadolu Agency | Getty Images Walmart shares are emerging as a winner during the chaotic coronavirus crisis. The big box retailer, a classic defensive consumer staple stock, is benefiting from the millions of Americans
If you have cash parked in a money market fund that invests in non-U.S. Treasury debt, the Federal Reserve says it’s got your back. Late Wednesday, the Fed announced a new program that will make loans to financial institutions that buy shares in “prime” money market mutual funds, whose investments include corporate bonds. It’s the
U.S. President Donald Trump speaks as Vice President Mike Pence looks on during a news briefing on the latest development of the coronavirus outbreak in the U.S. at the James Brady Press Briefing Room at the White House March 18, 2020 in Washington, DC. Alex Wong | Getty Images The COVID-19 pandemic is a matter
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 219,400 Global deaths: At least 8,946 US cases: At least 9,159 US deaths: At least 150 All data
A take-out order from a Darden Restaurants Inc. Olive Garden. Daniel Acker | Bloomberg | Getty Images Darden Restaurants on Thursday reported quarterly earnings and revenue that topped analysts’ expectations. Shares of the company rose 5% in premarket trading. Darden also withdrew its fiscal 2020 outlook and suspended its quarterly dividend, citing the uncertainty it faces as states mandate
Traders work on the floor at the New York Stock Exchange October 31, 2019. Brendan McDermid | Reuters This is a live blog. Check back for updates. 8:49 am: Dow briefly wipes out gains since Trump’s inauguration With the coronavirus spreading economic mayhem across the globe, the Dow’s steep drop on Wednesday briefly pushed the
Copper prices have crashed in recent days amid growing panic over the impact of the coronavirus, and the metal’s reputation as a barometer for the global economy means analysts are looking to see if it has further to fall. On Thursday, copper prices hit their lowest level since January 2016, with three-month copper futures on
boonchai wedmakawand Financial scammers will likely try to steal money offered to Americans suffering from the negative economic effects of the coronavirus pandemic — and the public should be on its guard, federal officials warned on Wednesday. The White House has proposed making direct payments to American households as the coronavirus continues to wreak havoc
A man wearing a protective face mask walks past an indoor waterfall at Jewel Changi Airport in Singapore on February 27, 2020. Roslan Rahman | AFP | Getty Images This is a live blog. Please check back for updates. Global cases: At least 207,860, according to the latest figures from the World Health Organization Global
US Federal Reserve Chair Jerome Powell speaks at a “Fed Listens” event in Washington, DC, on October 4, 2019. Eric Baradat | AFP | Getty Images The Federal Reserve took another page out of its 2008 crisis-era playbook late Wednesday evening, invoking its emergency authority to create a backstop for prime money market mutual funds.
A man in a surgical mask walks by the New York Stock Exchange (NYSE) after more cases of coronavirus were confirmed in New York City, New York, U.S., March 10, 2020. Andrew Kelly | Reuters The easiest thing is to blame the computers and the algorithms that keep them going, propelling the market ever lower
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