New Jersey Governor Phil Murphy speaks after taking the oath of office in Trenton, New Jersey, January 16, 2018. Lucas Jackson | Reuters New Jersey homeowners whose finances have been affected by the novel coronavirus will get a 90-day reprieve on their mortgage payments, said Gov. Phil Murphy on Saturday. Lenders will also waive late
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
American Airlines planes parked in Tulsa, Oklahoma. American Airlines The coronavirus crisis is bringing the United States economy to a screeching halt, with every sector feeling the effects of most of the country’s workforce staying home. Satellite imagery combined with other photographic evidence and alternative data sources give a stark look at the U.S. situation:
The pandemic affects everyone — even cats and dogs that are clearly surprised at the change in routine. Younger children might not understand everything that’s going on, and older ones might realize life has changed but not know how to get clarity from their parents. The current situation is different from anything anyone’s experienced in
A ride share driver picks up passengers at O’Hare Airport on April 10, 2019 in Chicago, Illinois. Scott Olson / Getty Images Earlier this month, as talk of a new virus outbreak in the U.S. revved up, Robert Richwine, an Uber driver in Columbus, Ohio, devised a game plan to try to stay on the road.
In this photo taken March 20, 2020, cattle rancher Joe Whitesell rides his horse in a field near Dufur, Oregon, as he helps a friend herd cattle. Gillian Flaccus | AP U.S. farmers have endured a slew of financial hardships over the past few years. The U.S.-China trade war sent scores of farmers out of
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks. All times below are in Beijing time. Global cases: More than 595,000 Global deaths: At least 27,300 Top 5 countries: United States (103,942), Italy (86,498), China (81,897), Spain (65,719)
Hospital supplier Owens & Minor added shifts and expanded factory production time to meet global demand for personal protective equipment in the fight against the coronavirus pandemic. As demand continues to grow exponentially, the Virginia-based company is ramping up production of face masks and other medical gear to keep up, CEO Ed Pesicka told CNBC’s Jim
The Robinhood application is displayed in the App Store on an Apple Inc. iPhone in an arranged photograph taken in Washington, D.C., U.S., on Friday, Dec. 14, 2018. Andrew Harrer | Bloomberg | Getty Images Robinhood’s recent show of goodwill came with strings attached, according to some users. On Monday, the trading start-up offered a
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
Tetra Images | Getty Images Congress passed new legislation Friday that will put stimulus relief checks in the hands of millions of Americans. The checks will amount to $1,200 for those who earn $75,000 or less, and $2,400 for couples making $150,000 or less. The legislation now heads to the desk of President Donald Trump,
Stocks opened lower on Friday, unable to extend the recent rally that saw the Dow Jones Industrial Average and S&P 500 post their best 3-day win streaks since the 1930s. The Dow fell more than 1,000 points at its session low, although some of the losses were pared late in the afternoon as the House
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
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 558,905 Global deaths: At least 25,336 US cases: At least 92,932 US deaths: At least 1,300 The data
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
Doug Hassebroek shops with a protective mask during the outbreak of coronavirus disease (COVID-19) in Brooklyn, New York, March 25, 2020. Caitlin Ochs | Reuters U.S. consumer sentiment fell to a three-year low as the coronavirus outbreak takes a toll on the economy, according to data from the University of Michigan released Friday. The index
Pershing Square Capital manager Bill Ackman defended his emotional CNBC appearance last week after his fund announced a few days later that it made over $2 billion on bets against the markets. The investor warned that “hell is coming” and that hotel stocks could go to zero in the interview. “Shortly after the show, I
The coronavirus pandemic has touched every aspect of each American’s life. Money may be the top issue for many, especially if you’ve lost your job or had your hours cut. The Senate just passed a $2 trillion stimulus package — the Coronavirus Aid, Relief and Economic Security Act, or CARES Act. The House is expected
Pershing Square manager Bill Ackman turned a net profit of more than $2 billion on Monday after he sold his bets against the market less than one week after warning CNBC that “hell is coming” and imploring the White House to shut down the country for a month He then used those proceeds to wager that existing
The chief executive of Novartis has cautioned that it is “too soon” to be sure whether two anti-malaria drugs could be the definitive vaccine for the coronavirus, after President Donald Trump touted them as a “game-changer” for the global outbreak. As of Friday, more than 537,000 people around the world had contracted COVID-19, according to
This is a live blog. Please check back for updates. Global cases: More than 529,500 Global deaths: At least 23,900 U.S. cases: At least 83,800 U.S. deaths: At least 1,200 The data above was compiled by Johns Hopkins University. All times below are in Beijing time. 8:58 am: Los Angeles launches program to produce 5 million
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
The stock market’s three day win streak may be in jeopardy. Canaccord Genuity’s Tony Dwyer warns the S&P 500 just hit a level that sets the stage for another meltdown as the country copes with the coronavirus impact. “We put 2,575 as a level for this relief rally,” the firm’s chief market strategist told CNBC’s
People walk by the New York Stock Exchange (NYSE) on March 09, 2020 in New York City. Spencer Platt | Getty Images U.S. stock futures were relatively flat on Thursday night following a sharp rally sparked by increasing expectations of massive fiscal stimulus while investors shook off grim unemployment data. Dow Jones Industrial Average futures
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
Brendan McDermid | Reuters It might be premature to declare the bear market dead, but Thursday’s action sure checked off some important boxes. Conventional Wall Street wisdom is that bear markets, or 20% declines from 52-week highs, die on bad news, and Thursday featured some of the worst the U.S. economy has ever seen. Nearly
White flag blowing in the wind Derek Brumby After weeks of steep market declines, you may feel you’ve had enough, that you want your hard-earned money during these uncertain times with you, under quarantine. And who could blame you? Headlines warn us that we’re careening toward a global financial crisis uglier than 2008, and the
Dell CEO Michael Dell Getty Images Executives are loading up on their company shares as the coronavirus-driven sell-off dents the broader market, signalling the heads of U.S. businesses are confident their companies will rebound. The heads of Dell Technologies and Wells Fargo are purchasing shares while outsiders ditch riskier assets, sucking trillions in value from
Morgan Stanley CEO James Gorman told his employees that despite the upheaval caused by the coronavirus pandemic, their jobs will be secure through this year. “I am sure some, if not many, of you are worried about your jobs,” Gorman said Thursday in a staff memo. “While long term we can’t be sure how this
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 492,000 Global deaths: At least 22,000 US cases: At least 69,000 US deaths: At least 1,000 The data
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