Stock futures pointed to more pain ahead on Friday as they fell in overnight trading following major averages losing the most since the “Black Monday” market crash in 1987. As of 6:30 p.m. ET, futures on the Dow Jones Industrial Average lost more than 200 points in overnight trading Thursday. The overnight action followed the official end
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Toshi Sasaki | Getty Images As the coronavirus pandemic paralyzes the country, some companies need billions of dollars to pay the bills. The country’s largest investment banks say they’re ready and willing to give it to them. That means the biggest corporate pain won’t be felt from a short-term squeeze. It will likely come later.
Former Treasury Sec. Jack Lew said Thursday the coronavirus pandemic does not look like the financial crisis and that the federal government should focus on the health crisis and wages for workers before addressing issues with major companies. “It is incumbent on policy makers to look at fiscal tools very carefully and to target them
Thanagon Karaket / EyeEm | EyeEm | Getty Images As the stock market sinks, you’ve probably already heard not to check your 401(k). Yet when it comes to steering your personal financial plan in a turbulent time, it’s still wise to take a proactive approach, according to Michael Liersch, a behavioral finance expert and global
If you need a pep talk, check out Lauryn Williams, a certified financial planner and four-time Olympian. She knows how to train for a stratospheric goal. Williams, founder of financial advisory firm Worth Winning in Dallas, is a three-time Olympic medalist and the first American woman to earn a medal in both the Summer and Winter Olympic
A Goldman Sachs sign is seen on at the company’s post on the floor of the New York Stock Exchange. Brendan McDermid | Reuters Goldman Sachs said that a gym worker employed by a vendor at its New Jersey office is suspected to have caught the coronavirus. The bank said that the worker, an employee of
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 127,749, according to data compiled by Johns Hopkins University. Global deaths: At least 4,717, according to data compiled by Johns
People pass a sign for JPMorgan Chase at it’s headquarters in Manhattan, New York City. Spencer Platt | Getty Images JPMorgan Chase on Thursday told managers to implement a plan to have employees based in offices in Manhattan, Brooklyn and Jersey City to start working from home in shifts beginning on Friday. “We are asking
President Donald Trump speaks about the U.S response to the COVID-19 coronavirus pandemic during an address to the nation from the Oval Office of the White House in Washington, U.S., March 11, 2020. Doug Mills | Reuters Small business owners on Main Street now have an economic lifeline that can help them weather the coronavirus
From quarantines to working remotely, precautions are being taken across the U.S. in response to the spread of coronavirus. If you find yourself stuck at home, there are ways to make the best of a bad situation, according to “Shark Tank” investor Daymond John. “You have to make sure that you take that time to
European markets plunged Thursday morning as investors reacted to President Donald Trump’s decision to impose restrictions on travel to the U.S. from some countries in Europe. The pan-European Stoxx 600 dropped 5.5% in early trade, with travel and leisure stocks plummeting 9.3% following Trump’s announcement of a ban on European travel. Trump said Wednesday that
Allianz chief economist Mohamed El-Erian said Monday that long-term investors should be cautious about buying stocks because financial markets are showing signs of stress. “We started seeing today more market stress, more liquidity stress. Yesterday, it was just the credit market and the inflation market. Today, it got to the Treasury market. So be careful
A man wearing a mask walks past the headquarters of the People’s Bank of China, the central bank, in Beijing, China, as the country is hit by an outbreak of the new coronavirus, February 3, 2020. Jason Lee | Reuters BEIJING — China‘s central bank is expected to cut key rates soon, following a directive from
A tour operator, wearing a protective mask, gestures as he leads a tour near the US Capitol in Washington, DC on March 9, 2020. Andrew Caballero-Reynolds | AFP | Getty Images High-deductible health insurance plans may cover the cost of coronavirus testing and treatment — without individuals having to meet their deductibles, the IRS said
People walk through a sparse international departure terminal at John F. Kennedy Airport as concern over the coronavirus grows on March 7, 2020 in New York City. Spencer Platt | Getty Images The U.S. travel and tourism industry could lose at least $24 billion in foreign spending this year because of the rapidly spreading coronavirus,
The stock market’s recent extreme volatility has made it advantageous for investors to pick individual equities, Bank of America strategist Savita Subramanian told CNBC on Wednesday. “This is an environment where passive, ETF investing might not be the most prudent way to invest,” Subramanian said on “Fast Money.“ That’s because the market’s sell-off in response to concerns
Rockstar energy drink Arun Nevader | Getty Images He failed as a politician. He couldn’t sell his business idea to a vodka company. And he mortgaged his house for $50,000 to launch a business everyone said would flop. But today, Russell Weiner is a cash-rich billionaire after selling Rockstar Energy Drinks to PepsiCo for $3.85
If coronavirus infections decline and Congress passes a fiscal stimulus package, Invesco’s Kristina Hooper says, stocks will make a sustainable comeback. She made the call as the Dow was plunging into a bear market, which reflects a 20% or more drop from 52-week highs. “I don’t think we’ve hit a bottom yet,” the firm’s chief
Hero Images | Hero Images | Getty Images A payroll tax cut is one idea President Donald Trump is considering in response to the negative effects of coronavirus on the U.S. economy. Experts say such a move would not necessarily be a magic bullet. One reason why: It could impair funding to Medicare and Social
Harvey Weinstein enters a Manhattan court house as a jury continues with deliberations in his trial on February 24, 2020 in New York City. prison. Spencer Platt | Getty Images Film producer Harvey Weinstein was sentenced Wednesday to 23 years in prison for a rape and sex assault case that ignited the #MeToo movement in