U.S. President Donald Trump delivers his acceptance speech as the 2020 Republican presidential nominee on the South Lawn of the White House in Washington on Aug. 27. Carlos Barria | Reuters Workers who participate in President Donald Trump’s payroll tax deferral will see a temporary increase in their take-home pay, but they’ll likely see smaller
Month: August 2020
Scott Gottlieb, former Commissioner of the FDA Adam Jeffery | CNBC Dr. Scott Gottlieb, former FDA chief under President Donald Trump, said on Sunday that the new guidance from the Centers for Disease Control and Prevention to not test asymptomatic people for Covid-19 was “unfortunate” because those people could be at high risk of contracting the infection. “We should
Dow Jones Industrial Average rises 161 points Dow positive for 2020 The 30-stock average joined the S&P 500 and Nasdaq as it clawed its way back into positive territory for the year. “To some extent, this is psychologically positive for the market,” Randy Frederick, vice president of trading and derivatives at Charles Schwab. Those gains came after the
President Donald Trump has known billionaire Ronald Lauder for close to 50 years. Yet, even as the president is down in the polls, the heir of Estee Lauder Companies has been virtually silent on whether he will assist Trump in his reelection effort this year. Lauder, who has a net worth of just under $5
It’s been a great August, up 6% for the S&P 500, the best August since 1986. But then again, it was a great July. And a great June. May was pretty good, too, and April was downright eye-popping. The Summer Rally (S&P 500 Monthly Returns) April: up 12.7% May: up 4.5% June: up 1.8% July:
Gap Inc. said Thursday its total sales tumbled 18% during the latest quarter, as e-commerce revenue surged 95% from a year ago, but those gains were offset by a 48% drop in store sales during the coronavirus pandemic. It swung to a net loss from a year ago, as the lower sales combined with additional shipping
Ariel Skelley | DigitalVision | Getty Images The idea of “slowing down” in retirement is quickly becoming an antiquated concept. To today’s retirees, retirement is no longer simply defined as the end of work, but the beginning of a whole new chapter of life, with new choices, freedoms and challenges. This new beginning is born
1. Wall Street set for a mixed open after more records Mortgage applications to purchase a home rose 0.4% last week from the previous week but were a remarkable 33% higher than the same week a year ago. According to the Mortgage Bankers Association’s index, refinancing demand fell 10% last week but was up 34%
People wearing masks walk past a large face mask sign in front of a Best Buy near Columbus Circle that as the city enters Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus in New York City. Alexi Rosenfeld | Getty Images Best Buy on Tuesday reported strong second-quarter sales growth, helped
An employee scans a quick response (QR) code displayed on the Ant Group’s Alipay app. Ant Group is preparing for a dual initial public offering in Shanghai and Hong Kong. Bloomberg | Bloomberg | Getty Images Ant Group, an affiliate of Alibaba, has given the first look at its financials ahead of its highly-anticipated initial
Bill Gates is a tech icon and the world’s second-wealthiest person. So, it’s hard to imagine the Microsoft co-founder being jealous of anyone. However, as Gates reveals in a recent interview with the Armchair Expert podcast, the billionaire was envious of his one-time friend and rival Steve Jobs’ legendary charisma. In the interview, which was
Jen-Hsun Huang, chief executive officer of Nvidia Corp., holds up a Titan C CPU and GeForce GTX Titan X graphics card . David Paul Morris | Bloomberg | Getty Images Stocks have delivered very impressive gains recently. Indeed, indexes are circling record levels, boosted by strong second quarter earning reports and reopening optimism. That’s despite
The Federal Emergency Management Agency, which is overseeing program funding, had approved 13 states to offer the extra unemployment benefits as of around noon ET on Friday. Those states are: Arizona, Colorado, Idaho, Iowa, Kentucky, Louisiana, Maryland, Michigan, Missouri, Montana, New Mexico, Oklahoma and Utah. Seven others — Alabama, Alaska, Arkansas, California, Indiana, Texas and West
A medical worker wearing a mask walks near the AMC movie theater in Times Square amid the coronavirus pandemic on May 7, 2020 in New York City. Alexi Rosenfeld | Getty Images AMC, Regal, Cinemark and Marcus Corp and other major theater chains are reopening their doors to the public Friday after five long months of being shuttered due to
Stocks rose on Friday to end a week that saw the broader market reach a record level. However, concerns over a new coronavirus stimulus bill kept the market’s gains in check. The Dow Jones Industrial Average traded 100 points higher, or 0.4%. The S&P 500 was up 0.1% and the Nasdaq Composite was marginally higher. House
Kevin O’Leary told CNBC on Thursday that he does not believe Democratic presidential nominee Joe Biden would impair the stock market if the former vice president were to defeat President Donald Trump in November. “I don’t think Biden is going to hurt the markets at all if he gets elected. His hands are tied,” the
A chopper service for the wealthy just sold out of a commuter-pass between the Hamptons and Manhattan in September, suggesting that many of the wealthy who fled the city during the pandemic plan to remain in the Hamptons for the fall. Blade, the chopper and mobility company, announced a special “Hamptons Commuter Pass” last week,
An Estee Lauder cosmetics counter in Los Angeles, California. Lucy Nicholson | Reuters Estee Lauder forecast current-quarter profit below analysts’ estimates on Thursday after posting a bigger-than-expected quarterly loss, as travel restrictions and store closures put in place to contain the spread of coronavirus dampened demand for its premium makeup brands. The company and other
Klaus Vedfelt | DigitalVision | Getty Images If your long-anticipated summer vacation or event was canceled due to Covid-19, you have less than a 1 in 2 chance of getting back all your money. Those are the findings from recent research by Bankrate.com. The personal finance site took an online poll of 2,624 adults in
Customers wearing face masks shop at a Walmart on July 15, 2020 in Washington, D.C. Sha Hanting | China News Service via Getty Images Walmart said Tuesday second-quarter earnings got a boost as shoppers rushed in to spend their stimulus checks, while its online business continued to surge during the pandemic. Walmart’s e-commerce sales in
Sales associates at one of Alibaba-owned InTime’s store display products for sale during a livestream. InTime | Alibaba BEIJING — More and more people in China are turning to jobs in the digital economy as the coronavirus pandemic accelerates a shift toward online commerce and livestreaming. The unemployment rate for cities held steady at 5.7% in July,
The coronavirus pandemic has taken a toll on many retailers, pushing dozens into bankruptcy, and it will now prompt the clothing subscription company Rent the Runway to shut all of its stores for good. Rent the Runway told CNBC it is making the decision in order to focus its investments on digital and adding more
President Donald Trump in the Cabinet Room of the White House on Aug. 3. Doug Mills-Pool/Getty Images) President Donald Trump is “ready to send” more coronavirus stimulus money. But it remains unclear if that is enough to move stalled Congressional negotiations forward so that Americans can see more money in their pockets. On Friday, Trump
DraftKings sank more than 5% in premarket trading Friday after it said its loss for the second quarter widened despite strong revenues and a turnaround in user engagement. The Boston-based gambling company posted a second-quarter loss of $161.4 million, or 55 cents per share, compared to a loss of $28.11 million, or 15 cents per
The Trump administration on Thursday weakened Obama-era regulations designed to reduce climate-warming methane gas emissions from oil and gas fields. The Environmental Protection Agency’s new rule, which has been in progress for over a year, would eliminate federal requirements for oil and gas companies to monitor and repair methane leaks from pipelines, storage facilities and
A traveler wearing a protective mask waits to put a suitcase in the back of ride-sharing car displaying Lyft signage at San Francisco International Airport on Monday, May 4, 2020. Paul Morris | Bloomberg via Getty Images Lyft reported second-quarter earnings Wednesday, which showed a 61% revenue drop versus the same period last year, but a glimmer
Chuck Robbins, chief executive officer of Cisco Technologies Inc., pauses during a panel session on day two of the World Economic Forum in Davos, Switzerland, on Jan. 22, 2020. Jason Alden | Bloomberg | Getty Images Cisco shares fell about 6% in extended trading on Wednesday after the maker of computer networking equipment provided a
Stocks rose on Wednesday as shares of the major tech companies recovered some of their steep losses from the previous session. The Dow Jones Industrial Average traded 239 points higher, or 0.9%. The S&P 500 gained 1.3% and the Nasdaq Composite advanced 1.9%. Facebook, Amazon and Netflix were all up more than 2% while Alphabet advanced
Former Theranos founder and CEO Elizabeth Holmes (L) leaves the Robert F. Peckham U.S. Federal Court on June 28, 2019 in San Jose, California. Justin Sullivan | Getty Images Seven months and nine days from now Elizabeth Holmes will face charges that she defrauded investors of her blood-testing company Theranos. That was the decision on
A worker wearing a protective mask adjusts a torque wrench inside the service area at a Harley-Davidson dealership in Oakland, California, on Thursday, July 16, 2020. David Paul Morris | Bloomberg | Getty Images The dark side of good earnings: Companies are talking about turning “furloughs” into permanent layoffs. You knew this was coming. It’s
