Getty Winston Churchill once said in a speech, “Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” While Churchill was referring the Allied defeat of Rommel in November of 1942, he could just as easily have been talking about the Covid-19 crisis. While lockdown restrictions have been
Pending home sales staged a historic rebound in May. Los Angeles Times via Getty Images Pending home sales across the nation made a major comeback in May, seeing encouraging record-breaking contract activity after two previous months of declines brought on by the increasing impact of the coronavirus pandemic. The National Association of Realtors reported that
Positive housing data and a price rebound “in some important stocks” fueled buying in the stock market Monday, CNBC’s Jim Cramer said. The Dow Jones surged 580 points to 25,595.80 for a gain of 2.32%, the S&P 500 rose 1.47% to 3,053.24 and the tech-heavy Nasdaq climbed 1.20% to a 9,874.15 close. “We had a
U.S. stock futures were flat in overnight trading ahead of the last trading day of a volatile month for stocks on Tuesday. Dow futures fell 16 points. The S&P 500 and Nasdaq-100 were set to open higher, with gains of 0.14% and 0.34%, respectively. Shares of Wells Fargo ticked nearly 2% lower in after hours
(L-R) Michael Corbat, chief executive officer of Citigroup Inc., Jamie Dimon, chief executive officer of JPMorgan Chase & Co., James Gorman, chief executive officer of Morgan Stanley, Brian Moynihan, chief executive officer of Bank of America Corp., Ron O’Hanley, president and chief executive officer of State Street Corp., Charles Scharf, chief executive officer of Bank
Rep. Bobby Rush, D-Ill. Ralf-Finn Hestoft | Corbis | Getty Image The bill, called the Student Recovery Eligibility for Low-Income Individuals to Exact Funds (RELIEF) Act of 2020, would make students receiving Pell Grants eligible to receive $1,200 stimulus checks. Federal Pell Grants are need-based funds given to low-income students to help them complete their
Jacy and Seth Boyack reopened their Arizona massage spa earlier this month from pandemic-driven closures. But they shut Citrus Massage back down after four days, citing safety concerns from the Covid-19 outbreak. In an interview Monday on CNBC’s “The Exchange,” Jacy Boyack said that even working the front desk, she felt concerned. “I’m not a massage
By Bob Blancato, Next Avenue Contributor and Elder Advocate Getty As the national coordinator of the national and grassroots advocacy group, the Elder Justice Coalition, I believe the need to address elder justice has become even more urgent recently. Congress appears to think so, too. Elder justice is the holistic approach of preventing and handling
A person holding a remote control pointing at the TV. Getty Lawrence A. Zelenak, the Pamela B. Gann Professor of Law at Duke University School of Law, shares his findings from watching dozens of hours of tax-related sitcom episodes. This post has been edited for length and clarity. David Stewart: Larry, welcome to the podcast. Lawrence
Mezzanine loans are often the riskiest piece of the real estate capital stack. These lenders will suffer the first loss if the value of the collateral goes down. If the loan defaults, they also have the fastest enforcement tool in the foreclosure tool shed: the ability to hold a Uniform Commercial Code foreclosure sale, a
The CEO of a Houston-area hospital system told CNBC on Monday that Texas’ spike in coronavirus cases is impacting a greater number of people under 50 than earlier in the pandemic. “We are definitely seeing this affect young people, and they’re getting quite ill,” Houston Methodist CEO Dr. Marc Boom said on “Squawk Box.” ”So we really
A Burger King sign outside a restaurant in Glendale, California. Robyn Beck | AFP | Getty Images Burger King’s U.S. same-store sales are trending flat as customers return to its locations for Whoppers and french fries. The Restaurant Brands International chain saw its same-store sales plunge by mid-30s in March as the coronavirus pandemic led consumers
The New York Stock Exchange (NYSE) stands in lower Manhattan on the first day that traders are allowed back onto the historic floor of the exchange on May 26, 2020 in New York City. Spencer Platt | Getty Images This is a live blog. Please check back for updates. 8:19 am: Shares of Coty surge
The average consumer answered just 4 out of 10 questions correctly on a recent investing quiz from MagnifyMoney that asked 1,025 American adults about topics from dividends to the meaning of a price-to-earnings ratio. Younger generations performed more poorly on the quiz compared to older generations, with both millennials and Gen Z averaging scores under
Fracking giant Chesapeake Energy’s bankruptcy filing comes following a financial mess at the company that included no budgets, a massive wine collection and a nine-figure bill for parking garages, sources told CNBC’s David Faber. CEO Robert D. “Doug” Lawler found in examining the company’s books a $110 million bill for two parking garages, Faber reported
miodrag ignjatovic The economic crisis caused by the coronavirus outbreak is anything the world has ever experienced. Unlike the recession in the 1980s, the bond collapse of 1994, the Asian currency crisis or the 2008 subprime mortgage disaster, this is not a financial crisis. It is an economic crisis. And, although financial crises occur with
Protesters donned masks during a rally to show solidarity with the Black Lives Matter movement. China News Service There’s no doubt Americans are feeling stressed and anxious these days. Money concerns hit many hard as the coronavirus pandemic disrupted the economy. There are also fears about the virus itself, as well as the pain it’s
Getty One of the more common scenarios I encounter in my practice is sitting down with a seemingly highly successful young married couple who are struggling to reach basic financial milestones. They have a hard time maintaining an emergency fund, coming up with a down payment for a home, saving for their child’s college education,
The Internal Revenue Service is working through a huge backlog of returns and correspondence. Getty Tax refund delays, collection notices with past due dates, and missing stimulus payments are some of the issues taxpayers are facing due to the impact of the coronavirus pandemic on IRS operations, according to The National Taxpayer Advocate’s mid-year report
Freddie Mac and Fannie Mae announced that multifamily property owners currently in forbearance can … [+] extend the payment suspension period for three more months for a total of half a year. As long as forbearance lasts, owners cannot evict renters. Getty The government agency that oversees mortgage buyers Fannie Mae and Freddie Mac announced