Month: March 2020

Hank Paulson David Orrell | CNBC Former Treasury Secretary Hank Paulson warned that the U.S. faces a “very difficult road ahead” after President Trump signed a historic $2 trillion coronavirus relief bill.  Paulson, a key figure in helping the country avoid economic catastrophe during the 2008 financial crisis, drew on his experience from that tumultuous period
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College acceptance letters are already in the mail. Now high school seniors must decide their fate for September. Up until now, National College Decision Day, the deadline for high school seniors to choose which college they will attend, has always been May 1. This year, however, the global coronavirus pandemic and extreme economic uncertainty have pushed many
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This is CNBC’s 24-hour blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This live blog will be updated throughout the day as the news breaks. Global cases: More than 679,000 Global deaths: At least 31,000 United States cases: At least 124,600 United States deaths: At least
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The stock market has gone so haywire amid the coronavirus crisis that some strategists on Wall Street are giving up on forecasting what comes next. Over the past week or so, chief market strategists at BMO, Oppenheimer and Canaccord Genuity have all suspended their year-end targets on the S&P 500, blaming the unprecedented economic uncertainty that makes projecting
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Small businesses are getting a potential lifeline from congressional lawmakers. The massive $2 trillion economic rescue package — which was signed into law by President Trump on Friday — includes provisions aimed at helping smaller employers weather the economic storm brought on by the coronavirus pandemic. “We are cautiously optimistic that this will provide the
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A person wearing a face mask walks along Wall Street after further cases of coronavirus were confirmed in New York, March 6, 2020. Andrew Kelly | Reuters Dow Jones Industrial Average falls 915 points The Dow closed 915.39 points lower, or 4.06%, at 21,636.78. The S&P 500 slid 3.37% to 2,541.47. The Nasdaq Composite pulled
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CNBC’s Jim Cramer said Friday he did not think investors were properly factoring in the likelihood a successful antiviral treatment for COVID-19 is developed.  “Is anyone even thinking anymore that there is something going on at any drug company that actually may have an antiviral?” Cramer said on “Squawk on the Street.” “I have just been
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 What does the legislation do? The bill — the Coronavirus Aid, Relief and Economic Security Act — expands unemployment insurance, a program enacted in 1935 to provide temporary income support for workers who lose their jobs. The legislation does three primary things: offers bigger unemployment checks, increases the duration of those payments and extends jobless benefits to
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Lululemon announced Thursday fiscal fourth-quarter results that topped expectations, as its same-store sales surged 20% during the period, thanks, in part, to more men shopping in its stores and online.  However, due to the uncertainty from the coronavirus pandemic, the yoga pants maker said it will not be providing a fiscal 2020 outlook at this time. Its
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