AstraZeneca‘s late-stage coronavirus vaccine trial in the U.S. remains on hold as federal investigators seek “answers to important questions” over its safety for patients, Health and Human Services Secretary Alex Azar told CNBC on Wednesday. Global clinical trials for AstraZeneca’s Covid-19 vaccine, called AZD1222, were placed on hold Sept. 6 after one of the participants in the
The S&P 500 rose slightly on Tuesday, recovering some of the steep losses from the previous session as shares of Big Tech advanced. The broad-market index traded 0.2% higher and was on pace to post its first gain in five sessions. The Nasdaq Composite advanced 0.3%. The Dow Jones Industrial Average lagged, dropping 68 points,
Democratic U.S. presidential nominee and former Vice President Joe Biden delivers remarks regarding the Supreme Court at the National Constitution Center in Philadelphia, Pennsylvania, U.S., September 20, 2020. Mark Makela | Reuters Democratic presidential nominee Joe Biden’s plan to increase the capital gains tax could lead to a large-scale sell-off of stocks, according to economic
CNBC’s Jim Cramer, who has been warning people for weeks to lock-in some stock profits, advised investors to look for places to possibly buy in the carnage of Monday morning’s sharp market selloff. “We’re down on something that nobody really understands,” said Cramer, playing down the worries about another coronavirus lockdown in Europe. He said
People wait in line at a food bank in Van Nuys, California, on April 9, 2020. Mario Tama | Getty Images News | Getty Images The economic crisis unleashed by the coronavirus pandemic may be over for some groups of Americans — primarily the wealthy and White — even as it lingers in other corners of the
President Donald Trump meets with China’s President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. Kevin Lemarque | Reuters As trade tensions mount between the U.S. and China, the U.S. semiconductor industry fears a tech cold war could disrupt the global supply chain.
Stock futures held steady in overnight trading on Thursday after another sell-off on Wall Street led by major technology names. Futures on the Dow Jones Industrial Average rose about 50 points. The S&P 500 futures and the Nasdaq 100 futures were both flat. During Thursday’s regular trading session, the S&P 500 declined 0.8% for its
Virgin Atlantic Airways and Virgin Group founder, Sir Richard Branson. Craig Barritt LONDON – Virgin founder Richard Branson is looking to raise $460 million to create a new special purpose acquisition company, or SPAC, becoming the latest in a line of wealthy investors to do so. In a filing with the Securities and Exchange Commission
Warren Buffett Gerry Miller | CNBC Warren Buffett, the man who pioneered buy and hold investing, just made quite a fast billion bucks from a type of investment he once mocked. Berkshire Hathaway bought $250 million worth of Snowflake stock at the IPO price and an additional 4.04 million shares from another stockholder at the
A FedEx worker unloads packages from his delivery truck on March 31, 2020 in Washington, DC. Drew Angerer | Getty Images News U.S. delivery firm FedEx reported a bigger-than-expected quarterly profit on Tuesday, after price hikes, lower fuel costs and efficiency gains countered negative impacts associated with a pandemic-fueled surge in e-commerce shipments. Shares in
Hundreds of jobless people wait outside the Kentucky Career Center for help with their unemployment claims on June 19 in Frankfort, Kentucky. John Sommers II/Getty Images Americans who are hoping for more financial assistance may have to wait until after the November election before Congress can strike a deal. Yet experts say continued financial assistance
Kraft Heinz is looking to capitalize on consumers’ rediscovered interest in store-bought mac and cheese and Ore-Ida french fries as it unveiled a turnaround plan Tuesday that will shave $2 billion in costs through 2024 and invest some of that in marketing its products. The company is expecting long-term organic sales growth of 1% to 2%
Democratic donor and money manager Michael Novogratz told CNBC on Monday that a Joe Biden victory over President Donald Trump would at first cause problems for the U.S. stock market. But the billionaire former hedge fund investor contended that the former vice president’s election would ultimately benefit Wall Street. “I think Biden’s going to win. I hope
In this aerial view from a drone, homes destroyed by wildfire are seen on September 12, 2020 in Talent, Oregon. Hundreds of homes in Talent and nearby towns have been lost due to wildfire. David Ryder | Getty Images News | Getty Images Historic wildfires are burning millions of acres and destroying homes in California, Oregon
Ex-New York Jets wide receiver Josh Bellamy was arrested Thursday for his alleged role in a $24 million Covid-19 relief scheme, the U.S. Justice Department announced Thursday. The complaint says that Bellamy, along with 10 other defendants, allegedly applied for Paycheck Protection Program (PPP) loans via at least 90 fraudulent applications for a total more
An antenna for a satellite ground station Amazon Microsoft is looking to challenge Amazon in offering a service that connects satellites directly to the company’s cloud computing network, according to documents the company filed with the Federal Communications Commission last month The effort shows how the two largest providers of cloud infrastructure — data centers in
Peloton said Thursday its fiscal fourth-quarter sales surged 172%, as its high-tech stationary bike and treadmill became two of the hottest commodities for people looking to work out at home during the coronavirus pandemic. The fitness equipment maker also offered Wall Street an eye-popping outlook for the current quarter and fiscal 2021, with sales of its
Eric Smith and his sons, Kyree, 6, (left) and Corey, 8, (right). Source: Eric Smith When the Centers for Disease Control and Prevention announced last month that most evictions nationwide were banned until the end of December, it came as little relief to Eric Smith. All the single father can think about now is what will
A worker displaying soybeans imported from Ukraine at the port in Nantong, in China’s eastern Jiangsu province. – Imports of soybeans from the US, once China’s biggest supplier, have dropped massively since a trade war between the US and China began in 2018. STR | AFP | Getty Images Global soybean demand has been robust
An investor watches the electronic board at a stock exchange hall on November 26, 2018 in Nanjing, Jiangsu Province of China. VCG via Getty Images BEIJING — Multiple publicly listed Chinese companies have disclosed odd instances of “accidental” stock sales in the last few weeks. For example, Shenzhen Changfang, a manufacturer of light-emitting diode (LED) products,
Stewart Butterfield, co-founder and chief executive officer of Slack Technologies Inc., speaks during an event in San Francisco, California. David Paul Morris | Bloomberg | Getty Images Slack shares fell as much as 20% in extended trading on Tuesday after the team communications software company reported fiscal second-quarter results and full-year guidance that exceeded analysts’
Macallan 18 Mark Littler LTD A 28-year-old has sold a collection of whisky given to him each year by his father as a birthday present, for £44,000 ($57,363), in order to buy his first home. Matthew Robson, who lives in Somerset in the south of England, was given a bottle of 18-year-old Macallan single malt
Shoppers walking into a Lululemon store Scott Mlyn | CNBC How do investors pick stocks poised to outperform in the current environment? Stocks are tumbling in a tech-led selloff after reaching record highs over the last few weeks. However, even after the pullback, the S&P 500 has still surged almost 19% on a one-year basis.
Jennifer Haynes, a self-employed chef and single mother living in Rancho Cucamonga, Calif., is struggling to make ends meet after unemployment benefits abruptly stopped in July without explanation. Meanwhile, the 42-year-old is the sole provider for twin boys, one of whom has special needs. Jennifer Haynes Jennifer Haynes didn’t just fall through cracks in the
This back-to-school season is like no other for many reasons. And that makes preparing for it especially challenging. As of a recent tally, a little more than half of U.S. elementary and high school students will attend school only virtually this fall, although changes are announced daily. As a result, families have delayed many traditional back-to-school purchases.
Jiko CEO Stephane Lintner Source: Jiko A tiny start-up led by a former Goldman Sachs trader has become the first fintech firm to complete the acquisition of a nationally-regulated U.S. bank, CNBC has learned. Jiko, a 23-person company co-founded by Stephane Lintner, has closed a deal to purchase Mid Central National Bank, a 63-year old
Ever thought about going to Antarctica for the day? It’s possible through sightseeing tours by Antarctica Flights. The company operates flights that depart from Australia and fly one of 19 routes over the ice-covered continent. Flights depart and land at the same airport, making this one trip that actually is more about the journey than
Elon Musk Jim Watson | AFP | Getty Images Tesla shares slid 9% on Thursday, building on the stock’s recent losses after the company’s largest outside shareholder reduced its position, and after the automaker said it would raise up to $5 billion in a new share offering. With Thursday’s decline, the stock is more than
The Rocket Mortgage by Quicken Loans app is displayed on a smartphone Aug. 6, 2020. Gabby Jones | Bloomberg via Getty Images Rocket Companies, the parent of mortgage lender Quicken Loans, swung to a quarterly profit in its first results as a public company on Wednesday, driven by higher borrowings on the back of lower
Popular trading platform Robinhood is under investigation related to its disclosures around its practice of selling clients’ orders to high-frequency traders, the Wall Street Journal reported Wednesday. The Securities and Exchange Commission’s probe into the Silicon Valley start-up is at an advanced stage and could result in a fine of more than $10 million if the company
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