The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, April 26, 2020. Jeena Moon | Reuters Stock buybacks are on track for the lowest total on record this quarter, according to Bank of America. The sharp economic
Month: May 2020
It’s hard to imagine being paid to borrow money or penalized for saving. But the economic shock from Covid-19 may call for drastic measures. Up until this point, the Federal Reserve has never brought its benchmark rate into negative territory and, according to Federal Reserve Chairman Jerome Powell, the Fed is not considering going to negative interest rates now. “The
Congratulations to the 2020 high school graduates! Getty For the senior class of 2020, finishing high school has been something out of the twilight zone—no prom, no graduation ceremony, distance learning at home and canceled finals. While a lot of you have gotten your college acceptance letters and are now deciding which school you want
In new guidance, the SBA has quelled some of the anxiety about the necessity certification for PPP … [+] loans, hopefully encouraging more small businesses to seek crisis aid. Getty The Paycheck Protection Program provided under the CARES Act has given needed funding for small businesses affected by the COVID-19 pandemic. However, it has also raised
Fannie Mae and Freddie Mac have announced additional relief options for homeowners struggling due to … [+] the COVID-19 pandemic. SOPA Images/LightRocket via Getty Images Fannie Mae and Freddie Mac have announced additional relief options for homeowners struggling due to the COVID-19 pandemic. According to announcements from the two companies this afternoon, homeowners in forbearance
People in cars participate in a protest against the coronavirus shutdown in front of State Capitol in Madison, Wisconsin, on April 24, 2020. KAMIL KRZACZYNSKI | AFP via Getty Images The Wisconsin Supreme Court on Wednesday struck down the state’s stay-at-home orders during the coronavirus pandemic as “unlawful, invalid and unenforceable” after finding the state’s health commissioner
Getty Images Market dislocations triggered by the coronavirus crisis have sent more capital into Chinese stocks — and some strategists see this as part of a longer-term trend. “We’re finding that a lot of foreign managers globally (are) reshuffling their holdings in this turmoil,” Todd Willits, head of flow tracking firm EPFR, said in a phone interview in late April.
This time of year, Tommia Hayes is usually busy coordinating with hundreds of business leaders across several states to organize her employer’s biggest event of the year, a corporate and social responsibility conference, that generally takes place every June in New York City. That conference, like countless other plans waylaid by the pandemic, is now
Bill Miller, founder of Miller Value Partners, disagreed Wednesday with the assessment made by other major investors about the market’s valuation being too high. “If you look at the overall market … we’re trading around 17 times the consensus on bottom-up earnings for 2021, which is about the average for the last five years,” Miller
A view of new York State Department of labor office in Flushing Queens during coronavirus pandemic on April 12, 2020. (Photo by John Nacion/NurPhoto via Getty Images) NurPhoto Democrats want to give Americans larger unemployment checks until next year. Certain workers — particularly those in lower-paying industries like accommodation and food services — stand to benefit
Offices of Cutera Inc. in Brisbane, Calif. Google Earth The largest public companies that tapped the government’s emergency relief fund for small businesses nearly all had ready access to other forms of capital, according to a CNBC analysis of filings. Even amid the upheaval caused by the coronavirus pandemic, these companies raised millions of dollars
Business owners getting aid under the Paycheck Protection Program need to be aware of Safe Harbor Getty If you are a small business owner who applied for the PPP loan and later wondered if you should return the funds because of unclear certification requirements, I have some good news for you. What’s New Today, May
PALM BEACH, FLORIDA – NOVEMBER 01: President Donald Trump’s Mar-a-Lago resort is seen on November 1, … [+] 2019 in Palm Beach, Florida. President Trump announced that he will be moving from New York and making Palm Beach, Florida his permanent residence. (Photo by Joe Raedle/Getty Images) Getty Images The Dock And The Vote Manuel
Joe Biden Talks About the Coronavirus in Washington, US Barcroft Media via Getty Images A Federal Rent and Mortgage Bailout: Joe Biden, the presumptive Democratic presidential nominee, called for sweeping housing relief and a federal rent bailout. Appearing on Good Luck America, Snapchat’s daily political show, Biden was asked if the federal government should be
Investors and health officials appear to grow increasingly worried about a potential second wave of Covid-19 cases and further economic downtown, as states and foreign governments move ahead with lifting restrictions. Stocks sold off on Tuesday, with the Dow shedding roughly 400 points in the final hour of trading and the Nasdaq Composite and S&P
Federal Reserve Chairman Jerome Powell said Wednesday that policymakers may have to use additional weapons to pull the country out of an economic mire that has cost at least 20 million jobs and caused “a level of pain that is hard to capture in words.” While he did not specify what those measures are and
In the aftermath of the coronavirus pandemic, students borrowing for college will benefit from some of the lowest interest rates on record for federal student loans this upcoming school year. Rates for federal loans issued between July 1, 2020 and June 30, 2021 will be 2.75% for undergraduate Stafford loans, according to the May Treasury
Billionaire investor David Tepper said the stock market is one of the most overpriced he’s ever seen, only behind 1999. Before Wednesday’s sell-off, it was “maybe the second-most overvalued stock market I’ve even seen,” Tepper said Wednesday on CNBC’s “Halftime Report.” “I would say ’99 was more overvalued.” “The market is pretty high and the Fed has
With more than 30 million people out of work and a growing number of Americans feeling severely cash-strapped, loans are a lifeline. If you can get one. Despite rock-bottom interest rates, banks are tightening lending standards across the board, shrinking the availability of credit. “If you can get a loan, then the price of it is going
By Monica Cardoza, Next Avenue Contributor Teresa Brown, of Rooster Ridge Farms, says she’s not going for the ‘mega-flower farmer thing’ Courtesy of Teresa Brown With a growing demand for local, sustainably grown fresh-cut flowers, some people with a love of gardening have found second careers as flower farmers. “The DNA’s already there,” says Debra
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