A person wearing a protective mask arrives to pick up food at a Nathan’s Famous restaurant near the Coney Island Boardwalk in the Brooklyn borough of New York, on Monday, April 20, 2020. Holly Pickett | Bloomberg via Getty Images Hot dog and restaurant company Nathan’s Famous said that it received a $1.2 million loan under
Finance
Monty Bennett and executives from Braemar Hotels and Resorts ring the closing bell at the NYSE on April 25th, 2018. Source: NYSE Even as the U.S. small business relief program is set to reopen Monday with fresh funding, the full extent that public companies tapped the emergency facility is only now becoming clear. More than
Charging Bull Statue is seen at the Financial District in New York City, United States on March 29, 2020. Tayfun Coskun | Anadolu Agency | Getty Images Stocks futures fell slightly on Sunday night, following oil prices lower, while investors assessed the possibility of re-opening the global economy after the coronavirus outbreak. Dow Jones Industrial Average
Comstock | Stockbyte | Getty Images “Scary,” “unbelievable,” “so dramatic,” “unprecedented,” “very visceral”: These are among the choice words Wall Street veterans used to describe what was, for the oil market, a week for the history books. On Monday, for the first time on record, West Texas Intermediate (WTI), the U.S. oil benchmark, plunged below
President Donald Trump speaks as Treasury Secretary Steven Mnuchin listens during the daily briefing on the novel coronavirus, COVID-19, in the Brady Briefing Room of the White House in Washington, DC on April 21, 2020. Mandel Ngan | AFP | Getty Images The Small Business Administration said Friday that hedge funds and private equity firms
A view of baggage claim at the United Airlines terminal at Los Angeles International Airport (LAX) during the outbreak of the novel coronavirus, which causes COVID-19, April 16, 2020, in Los Angeles. VALERIE MACON It’s clear that Americans have slowed their spending drastically as many industries essentially grind to a halt amid the coronavirus pandemic and
A customer browses products at a Walmart store in Burbank, California Patrick T. Fallon | Bloomberg | Getty Images U.S. consumer sentiment fell for a third straight month as people weigh the coronavirus pandemic and the possibility of an economic re-opening, data released Friday by the University of Michigan showed. The consumer sentiment index fell
Steven Eisman, senior portfolio manager at Neuberger Berman. Katie Rooney | CNBC Renowned investor Steve Eisman said Thursday U.S. banks are an attractive investment following the coronavirus-induced market sell-off. “I actually think long-term, the best cyclical play out there are the very large banks,” Eisman, senior portfolio manager at Neuberger Berman, told CNBC’s “Fast Money.”
A pedestrian wearing a protective mask stands outside a JPMorgan Chase & Co. bank branch in New York, U.S., on Friday, April 10, 2020. Mark Kauzlarich | Bloomberg | Getty Images JPMorgan Chase is warning some customers that even if fresh funds for the federal small business relief program are approved, the money won’t last
An employee makes a pizza next to a Just Eat Plc branded delivery bag in the kitchen of The Fat Pizza takeaway pizza restaurant in Southend-on-Sea, U.K., on Thursday, Dec 19, 2019. Chris Ratcliffe | Bloomberg via Getty Images Dutch food delivery firm Takeaway.com’s £6.2 billion ($7.6 billion) takeover of British rival Just Eat has
Jamie Black-Lewis received loans from the Paycheck Protection Program for her two spas, Oasis Medspa & Salon and Amai Day Spa, in Washington state. Many of her 35 employees think they will make more money collecting unemployment benefits than from their regular paychecks. Jamie Black-Lewis Jamie Black-Lewis felt like she won the lottery after getting
Glow Wellness | Getty Images Gyms in China‘s capital city of Beijing were forced to close again over the weekend, adding pressure to an industry that’s already seen the collapse of thousands of fitness businesses nationwide. The coronavirus, which emerged late last year in the Chinese city of Wuhan, has swept across the country and only started
If you’re a long-term investor, Federated Hermes’ Phil Orlando sees potential for record gains. But if you’re looking for upside this year, you may want to hunker down some more. “The economic and corporate earnings news for the next month or two is going to be dreadful,” the firm’s chief equity market strategist told CNBC’s “Trading
A worker prepares to lift drills by pulley to the main floor of a drilling rig in the Permian basin. Brittany Sowacke | Bloomberg | Getty Images By one measure, U.S. oil fell more than 100% to a negative value on Monday — something it’s never done before. But the picture in the oil market might not
A man wears a protective mask as he walks on Wall Street during the coronavirus outbreak in New York City, New York, U.S., March 13, 2020. Lucas Jackson | Reuters U.S. stock futures opened lower on Sunday night as investors weigh the latest news on the coronavirus front along with another decline in crude prices.
Secretary of the Treasury Steven Mnuchin speaks with President Donald J. Trump and members of the coronavirus task force during a briefing in response to the COVID-19 coronavirus pandemic on Thursday, April 02, 2020 in Washington, DC. (Photo by Jabin Botsford/The Washington Post via Getty Images) The Washington Post Veterans and their family members will
Pedestrians pass a JPMorgan Chase & Co. bank branch near the New York Stock Exchange in 2018. Bloomberg | Bloomberg | Getty Images JPMorgan Chase says it has closed more small business relief loans than any other bank, but it still has a huge mountain of applications from business owners who are now in limbo.
Charlie Munger Lacy O’Toole | CNBC Speculation about what Berkshire Hathaway‘s Warren Buffett is doing during this crisis is a common topic among investors these days, with most expecting the “Oracle of Omaha” to make a classic value purchase during this tumultuous time or a rescue cash infusion to a struggling company he likes over the
The seal of the Internal Revenue Service (IRS) hangs on a podium during an IRS Criminal Investigation 100th year anniversary event at the agency’s headquarters in Washington, D.C., U.S., on Monday, July 1, 2019. Photographer: Andrew Harrer/Bloomberg via Getty Images Bloomberg An unlikely group counts itself among the recipients of the coronavirus stimulus checks: the
The ETF that tracks the S&P 500 rallied in after-hours trading Thursday after a report said a Gilead Sciences drug was showing effectiveness in treating the coronavirus. The move pointed to a jump for the stock market on Friday. Around 5:35 p.m. ET, the SPDR S&P 500 ETF Trust (SPY) was up 3%. Stock futures
Earnings season may look ugly, but Crossmark’s Global Investments’ Victoria Fernandez isn’t getting discouraged. She believes there are opportunities in the coronavirus battered market. “We’ve seen some already. If you look at some of the health care names — UnitedHealth gave a good report,” the firm’s chief market strategist told CNBC’s “Trading Nation” on Wednesday.
International Monetary Fund Managing Director Kristalina Georgieva speaks during the Global Women’s Forum in the Gulf emirate of Dubai on February 16, 2020. KARIM SAHIB | AFP via Getty Images The global economic downturn has been so severe that already half of the world has asked the International Monetary Fund for a bailout, the organization’s
Xueling Li, chairman of Huya Inc., center left, rings a ceremonial bell with Rongjie Dong, chief executive officer of Huya Inc., center right, during the company’s initial public offering on the floor of the New York Stock Exchange, May 11, 2018. Michael Nagle | Bloomberg | Getty Images For many Chinese companies, their dreams of
People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fort Smith, Arkansas, April 6, 2020. Nick Oxford | Reuters JPMorgan Chase just disclosed that rising job losses effectively wiped out most of its profit in the first quarter
The Roku 3 television streaming player menu is shown on a television in Los Angeles, California, U.S., on Thursday, Sept. 12, 2013. Patrick T. Fallon | Bloomberg via Getty Images Check out the companies making headlines after the bell. Roku Inc — The television streaming platform’s stock soared 9% in extended trading after the company estimated
Take a look at some of the biggest movers in the premarket: Caterpillar (CAT) – The heavy equipment maker’s stock was downgraded to “underperform” from “neutral” at Bank of America Securities, which points to a severe capital spending downturn in key Caterpillar markets. Dunkin’ Brands (DNKN) – Credit Suisse gave the restaurant chain’s stock a
Silhouette of Permian Basin pumpjacks taken at dusk, north of Midland, Texas, U.S. in late 2019. Richard Eden | via Getty Images Oil prices moved lower in overnight trading after OPEC and its allies agreed to cut production by 9.7 million barrels per day. The deal, which was finalized on Sunday after marathon discussions that
Federal Reserve Chairman Jerome Powell speaks to reporters after the Federal Reserve cut interest rates in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus, during a news conference in Washington, March 3, 2020. Kevin Lamarque | Reuters With a series of moves that take it still deeper
The Wall Street Bull, located in the financial district of New York City. Mike Roy | MCT | Tribune News Service | Getty Images The stock market’s rapid plunge into a bear market this year has been nearly matched by a blistering rally off its lows. Through Thursday’s close, the S&P 500 has rallied nearly
A sign is posted outside of the PayPal headquarters in San Jose, California. Justin Sullivan | Getty Images After weeks of lobbying, fintech companies are officially allowed to take part in the U.S. government’s emergency lending program. PayPal and Intuit QuickBooks announced Friday evening that they were approved by the Small Business Administration to take
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