TOPLINE Stocks jumped on Tuesday thanks to a record surge in retail sales last month, additional support from the Federal Reserve and hopes for more government stimulus. Retail sales jumped by a record 17.7% in May. Spencer Platt/Getty Images KEY FACTS The Dow Jones Industrial Average was up 2%, over 500 points, on Tuesday, while
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Balance home and money, home loan, reverse mortgage concept : A man hand put us dollar money bag … [+] into scales on table with green nature as background. Savings, investment, loan for plan in the future. Getty It has been 12 years since the U.S. government took over Fannie Mae and Freddie Mac when
CNBC’s Jim Cramer on Tuesday channeled the words of Wall Street legend Martin Zweig to make sense of the current market conditions. “I can practically hear his stentorian but low voice saying, ‘don’t fight the tape, don’t fight the Fed,'” the “Mad Money” host said. Zweig, who died in 2013, is renowned for calling the
U.S. stock futures moved lower in overnight trading, following a big rally in the previous session fueled by growing belief that the worst may be over for the world’s largest economy. Dow futures fell 130 points, indicating a loss of 0.5% at the open on Wednesday. The S&P 500 and Nasdaq-100 were also set to
The former top securities regulator for the United States said Tuesday that policymakers never considered there would be a market for bankrupt companies like Hertz to issue new stock and that, if things went poorly, investment banks could be on the hook. Harvey Pitt, who served as chairman of the Securities and Exchange Commission under
Labor Secretary Eugene Scalia testifies before a Senate Finance Committee hearing on unemployment insurance on Capitol Hill in Washington on Tuesday, June 9, 2020. (Pool photo by Caroline Brehman-Pool/Getty Images) Amid the recent good news about stronger-than-expected job growth in May, some economists have eyed one labor statistic with a sense of bewilderment. Specifically, the
Founders: Rob Frohwein (CEO), Kathryn Petralia, Marc GorlinLaunched: 2009Headquarters: AtlantaFunding: $489 millionValuation: $1.1 billion (PitchBook)Key technologies: Artificial intelligence, machine learningIndustry: Credit, financial services, lendingPrevious appearances on Disruptor 50 List: 2 (No. 14 in 2019) George Kavallines Among the biggest headaches any small business faces is cash flow. Kabbage, headquartered in Atlanta, is a data and technology company providing small businesses with
By Andrea Cooper, Next Avenue Contributor Nicole Dunn and her mother, who recently moved into an assisted living community Courtesy of Nicole Dunn Nicole Dunn was all set to move her mom, Barbara, into an assisted living community in St. Petersburg, Fla. in April. Then Covid-19 struck. The facility temporarily banned outsiders and “that meant
A portrait of Nicki Howard Courtesy of Nicki Howard Nicki N. Howard is senior tax counsel for CSX Transportation Inc. Headquartered in Jacksonville, Florida, CSX is a rail carrier servicing states east of the Mississippi as well as portions of Canada. There have been a number of articles discussing why women are leaving tax. However, there is more to say
Two-thirds of sellers would accept a lower offer, LendingTree finds. Those most likely to do so are … [+] millennial sellers (78%), followed by Gen Xers (67%) and baby boomers (55%). Getty Despite the recent surge of bidding wars in quickly rebounding housing markets, in late April, nearly 70% of home sellers said they would
The number of confirmed cases of the coronavirus around the world has now topped 8 million as the World Health Organization continues to warn that, while the virus has slowed in parts of Europe, it is gaining speed in other parts of the world, including parts of Africa and the Americas. More than 100,000 new
Marilyn Booker attends the BET Awards Welcome Party at Liaison Lounge on June 21, 2019 in Los Angeles, California. Joshua Blanchard | Getty Images Marilyn Booker, a 26-year veteran of Morgan Stanley who spent most of that time as the firm’s first global diversity chief, is suing the bank for racial discrimination and retaliation. Booker, who
As the coronavirus pandemic took hold in across the country and the world, millions of Americans’ lives were disrupted as they faced illness, unemployment levels not seen the Great Depression and whiplash-inducing market volatility. But some billionaires who saw their fortunes dive as the market tanked in March have recovered and even surpassed their previous levels
An Astra rocket standing on the launchpad in Kodiak, Alaska. Astra / John Kraus Rocket builder Astra will try again for its first orbital rocket launch in July, as the San Francisco-area startup navigates the coronavirus pandemic environment while trying to begin flying satellites to space regularly. The company suffered a setback in March when
Restaurants in San Francisco began opening patios and sidewalks to diners for the first time in three months as of June 12. Photographer: David Paul Morris/Bloomberg via Getty Images States are reopening and millions of people have returned to work. In some cases, those workers may be able to continue collecting unemployment benefits. That pay
As retail sales pick up again, National Retail Federation CEO Matthew Shay said he wants to make sure small and mid-sized stores and restaurants can make a comeback, too. “They get hit harder and they get hit first and so we need to bring them back quickly,” he said on CNBC’s “Squawk Box.” Retail sales
Economic Security Planning, Inc. Today’s column addresses questions about how SSA determines spousal benefit amounts, COLAs and survivor benefits, when COLAs and delayed retirement credits are applied, the WEP and multiple pensions and the effect of the family maximum on child benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder
TOPLINE Stocks are jumping sharply Tuesday morning thanks to a record surge in retail sales last month, additional support from the Federal Reserve and hopes for more government stimulus. Stocks look set for a strong rally on Tuesday. Spencer Platt/Getty Images KEY FACTS The Dow Jones Industrial Average was up 3.1%, over 800 points, at
Google logo is displayed on the company’s headquarters in Chelsea section of New York City. (Photo … [+] by Ramin Talaie/Corbis via Getty Images) Corbis via Getty Images The coronavirus might have convinced the major tech CEOs to order their work force to stay at home until a vaccine is approved, but my bet is
San Francisco Giants Shortstop Brandon Crawford (35) tries his hand at the TV camera before the Major League Baseball game between the San Diego Padres and San Francisco Giants on August 29, 2019 at Oracle Park in San Francisco, CA. Bob Kupbens | Icon Sportswire | Getty Images) Major League Baseball is finalizing a new