CNBC’s Jim Cramer on Thursday praised the Federal Reserve‘s latest moves to help keep afloat a U.S. economy that’s been battered by the coronavirus pandemic. Before the stock market opened, the Federal unveiled details of its much-anticipated Main Street lending program and other initiatives, a total of $2.3 trillion in loans to help businesses and municipalities.
Month: April 2020
While efforts to develop a coronavirus vaccine have accelerated, there are still safety concerns, according to the director-general of the International Vaccine Institute. “We don’t know that a vaccine that’s developed in four months — or I guess 12 to 18 months, which is the current estimate — is really safe,” Jerome Kim, director-general of
Stock futures moved lower in overnight trading, pointing to losses at the open on Thursday. The move pointed to a loss of 50 points, or 0.2%, for the Dow, with the S&P 500 and Nasdaq-100 slated to open 0.3% and 0.6% lower, respectively. Stocks surged on Wednesday, with the major averages spending the entire session
A pronounced economic slump sparked by the coronavirus outbreak has imperiled a popular investment strategy: buying dividend stocks. These stocks have traditionally been highly coveted during periods of market turbulence because they provide shareholders a dividend or a guaranteed return, typically paid out annually out of the company’s profits or reserves. That investment approach is
Thomas Barwick This year, the coronavirus relief law is letting savers bypass mandatory withdrawals from their retirement accounts. While that’s good news, it’s still generating plenty of questions from account holders. Generally, savers who turn 70½ must begin annual required minimum distributions, or RMDs, from their retirement accounts and pay taxes on those withdrawals. However,
There are now about 20,000 shops on Etsy selling face masks, CEO Josh Silverman told CNBC on Wednesday. “Our sellers are able to produce hundreds of thousands of masks per day,” Silverman said on “Closing Bell.” Etsy began to see “overwhelming demand” for masks from shoppers last week after the Centers for Disease Control and Prevention began
An ambulance from Ohio outside of Wyckoff Hospital in the Borough of Brooklyn on April 4, 2020 in New York. Brian R. Smith | AFP | Getty Images Data in recent days show a slowdown in the rate of new coronavirus cases in several U.S. states, raising hopes that aggressive mitigation efforts such as social
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
The Federal Reserve is lifting the asset cap it has imposed on Wells Fargo so the bank can participate in the government’s small business lending program. In a move that was expected, the central bank said Wells will have to return proceeds it gets from the Payment Protection Plan and a coming Main Street lending
With most Americans under stay-at-home orders due to the coronavirus outbreak, the roads are quieter – and safer – than usual. So why should you keep paying your regular auto insurance premium? Many insurers have a perhaps surprising answer to that question: You shouldn’t. Allstate announced this week that it would slash April and May’s
Steven Mnuchin, U.S. Treasury secretary, right, speaks beside U.S. President Donald Trump during a Coronavirus Task Force news conference in the briefing room of the White House in Washington, D.C., U.S., on Tuesday, March 17, 2020. Kevin Dietsch | Bloomberg | Getty Images Banks are scrambling to process a growing backlog of applications for the
Treasury Secretary Steven Mnuchin discusses details for economic relief during the daily coronavirus response briefing as Small Business (SBA) Administrator Jovita Carranza listens at the White House in Washington, U.S., April 2, 2020. Tom Brenner | Reuters This is breaking news. Please check back for updates. Treasury Secretary Steven Mnuchin told CNBC on Wednesday that small
A man wears a mask on Wall St. near the New York Stock Exchange, March 3, 2020. Brendan McDermid | Reuters This is a live blog. Check back for updates. 8:39 am: Fed to release minutes from meeting where it took rates to zero Investors will get a better idea why Federal Reserve officials last month
Carson Block Anjali Sundaram | CNBC Carson Block’s Muddy Waters Research announced Wednesday it has taken a short position in eHealth Inc., which owns a digital health insurance exchange. Block, the firm’s founder, disclosed the position on CNBC’s “Squawk Box.“ Muddy Waters argues eHealth, with a stock market value of $3 billion as of Tuesday’s close,
Photo by Ariel Skelley via Getty Images Markets have been a roller coaster ride in the weeks since the coronavirus pandemic reached the U.S. Most of the country’s financial advisors think we haven’t hit bottom yet, a survey finds. Despite periodic rallies — like Monday’s more than 7% rise of both the Dow Jones and
Getty Images It’s never ideal to build up debt, but it may be necessary these days. The coronavirus outbreak has disrupted the economy. Businesses have shuttered and workers have been laid off or furloughed from their jobs. On April 2, the Labor Department reported 6.6 million people filed for unemployment the week prior — bringing the total
Andrew Harrer | Bloomberg | Getty Images In the 11 weeks since the novel coronavirus first made its way to the U.S., Americans have been forced to conform to sweeping changes as schools and businesses made the move to shut down and governments enforced lockdowns, stating individuals must be confined to their homes to stop
This is a live blog. Please check back for updates. Global cases: More than 1,426,000 Global deaths: At least 81,865 Most cases reported: United States (396,223), Spain (141,942), Italy (135,586), France (110,065) and Germany (107,663). The data above was compiled by Johns Hopkins University as of 7 a.m. Beijing time. All times below are in Beijing time. 8:20
U.S. stock futures were slightly lower in overnight trading and pointed to losses at the open on Wednesday, continuing a volatile week for stocks gripped by the coronavirus shutdown. Dow futures fell about 70 points, indicating a loss of 0.5%. The S&P 500 and Nasdaq Composite were also set to open lower, implying a drop
Blue Origin’s headquarters in Kent, Washington. Blue Origin Jeff Bezos’ space venture Blue Origin confirmed on Monday that two employees at its Seattle-area headquarters tested positive for coronavirus. The employees, who are married couple, work at Blue Origin’s headquarters in Kent, Washington and were last in the office about two weeks ago. The company has
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