David Goetsch, co-executive producer of “The Big Bang Theory,” on the show set. David Goetsch I can’t stop reading the news about the coronavirus and its impact on the economy. My brain is hardwired to obsess on a crisis, even one which doesn’t impact me directly. Everything else gets pushed to the periphery while one
Month: March 2020
President Donald Trump speaks at the daily coronavirus briefing joined by Vice President Mike Pence in the James Brady Press Briefing Room at the White House on March 22, 2020 in Washington, DC. Tasos Katopodis | Getty Images This is a developing story. Check back for updates. President Donald Trump and Vice President Mike Pence
JohnnyGreig | E+ | Getty Images We are in a challenging time, facing rapidly evolving information about the coronavirus and the effects on how we work and live. Markets continue to function and are reflecting this constant change, which means greater volatility. Those circumstances don’t make it easy for investors to stay in their seats.
Women wearing face masks, amid concerns of the COVID-19 coronavirus, walk past a display showing a countdown to the start of the Tokyo 2020 Olympic Games in Tokyo on March 23, 2020. Charly Triballeau | AFP via Getty Images Like almost everything surrounding the coronavirus, the postponement of the Summer Olympics in Tokyo to next
Democrats and Republicans are getting closer to a deal on the massive stimulus package to combat the economic impact of the coronavirus, according to multiple reports. Secretary Treasury Steven Mnuchin and Senate Minority Leader Chuck Schumer said they hope to have the final agreement in place Tuesday morning, according to Politico. The Associated Press and The Washington Post
A trader works on the floor of the New York Stock Exchange in New York, the United States, March 18, 2020. Michael Nagle | Xinhua News Agency | Getty Images All eyes are on Congress to pass a much-needed stimulus bill to rescue the economy from the coronavirus damage. The stock market is staging a
A man wearing a face mask takes a selfie at the Charging Bull statue on March 23, 2020 near the New Stock Exchange in New York City. Angela Weiss | AFP | Getty Images Markets have historically “reacted most negatively” to unknown diseases, tending to plunge more during epidemics as compared to natural disasters such
Rep Ilhan Omar (D-MN) takes part in a discussion on “Impacts of Phobia in Our Civic and Political Discourse” during the Muslim Caucus Education Collective’s conference in Washington, July 23, 2019. Kevin Lamarque | Reuters Democratic Reps. Ilhan Omar of Minnesota and Ayanna Pressley of Massachusetts introduced legislation on Monday that would suspend student loan
People wearing protective face masks, following an outbreak of the coronavirus, are seen next to the Olympic rings in front of the Japan Olympic Museum in Tokyo, Japan, February 26, 2020. Athit Perawongmetha | Reuters There is mounting pressure to postpone the Olympics for the first time in their 124-year history. On Sunday, leaders from
BTIG’s Julian Emanuel warns stocks could lose another fifth of their value. If Congress doesn’t immediately pass a coronavirus aid package designed to help the U.S. economy, he warns it’ll spark more damage to an already battered market. “We’re in this situation where politics seems to be getting in the way,” the firm’s chief equity
Twenty-two days. That’s all it took for the S&P 500 to fall 30% from its record high, the fastest drop of this magnitude in history. The second, third and fourth quickest 30% pullbacks all occurred during the Great Depression era in 1934, 1931 and 1929, respectively, according to data from Bank of America Securities. “This
Getty Images Several Democratic senators have teamed up to propose giving Social Security beneficiaries an extra $200 per month in the wake of the coronavirus pandemic and the economic devastation it is causing. The plan was put forward last week by Sens. Elizabeth Warren, D-Mass.; Chuck Schumer, D-N.Y.; and Ron Wyden, D-Ore. The extra income
Coronavirus hits forecasts Chetan Ahya, chief economist at Morgan Stanley, said the economic pain stemming from the pandemic “is definitely going to hurt” the firm’s forecasts: “Essentially, what we have is a significant decline in personal consumption expenditure as well as the business investment in the second quarter, so, this is definitely going to hurt
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 343,421 Global deaths: At least 14,790 US cases: At least 35,224 US deaths: At least 471 The data
A trader works on the floor of the New York Stock Exchange in New York, the United States, March 18, 2020. Michael Nagle | Xinhua News Agency | Getty Images 7:10 am: Stocks set to fall, Dow futures down 500 Markets were set to decline at the open on Monday as investors wait on an
President Donald Trump has long pointed to the stock market’s success under his administration as a tangible endorsement of his economic policies and had often boasted about the Dow Jones Industrial Average’s gains since his election. That was, of course, before investors knew about the new coronavirus. With COVID-19 and measures to contain its spread
As the U.S. economy skids and many Americans scramble to make ends meet during the coronavirus pandemic, one casualty may be credit scores. Some congressional lawmakers want to prevent that. A Senate bill introduced last week would prevent negative information from reaching your credit report for at least four months, as the nation continues battling
A worker on a an oil drill near New Town, North Dakota. Daniel Acker | Bloomberg | Getty Images Oil prices moved lower Sunday night, extending declines from the prior week, which saw U.S. West Texas Intermediate crude fall 29.31% for its worst week since 1991. On Sunday, WTI fell 6% to trade at $21.27
Corporate earnings are about to do something they haven’t done since the 2008 financial crisis: Turn negative. According to PNC Financial’s Amanda Agati, the coronavirus fallout could dramatically hurt companies through the second quarter. “Q1 expectations are in negative territory at about 1.5%. It looks like Q2 will be down about 1%,” the firm’s chief
In a joint release, US bank regulators urged banks to work with their customers affected by the coronavirus. The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency said in a release Sunday evening they “will not criticize institutions for working with borrowers.” They added they will not
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