A man walks by the Wall Street subway sign on March 23, 2020 in New York City. Angela Weiss | AFP | Getty Images Some traders are looking for a surge in stock buying on Tuesday, as fund managers rebuild their stock holdings in the final hours of the worst quarter for the Dow since
An ‘Open House’ sign is displayed in the front yard of a home for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images Home prices were seeing even bigger gains in January than all of last year, but that was before the coronavirus hit the U.S., shutting down much of the economy and
Consumer confidence dropped in March as the economy shut down to prevent the spread of the coronavirus, but economists expected a larger decline. The consumer confidence index fell to 120.0 in March (1985=100) from 132.6 a month earlier, the Conference Board said Tuesday. The reading was the lowest since July 2017 The present situation index
As the health crisis spirals into a financial one, the liquidation and panic selling have indiscriminately hit sectors across the board. The biotechs were no exception, with the S&P Biotech ETF (XBI) plummeting -20% on the year in tandem with the S&P 500 (NYSEARCA:SPY). Source: WingCapital Investments On the other hand, its peer Nasdaq Biotech
A very important piece of resulting legislation, the Glass-Steagall Act, established the FDIC as one of many comprehensive safeguards against the financial calamities of the time. Many of these safeguards have come to rescue the economy, or at least mitigate damage, during times of financial crisis. The FDIC insures bank deposits owned by corporations, partnerships,
Anna Gross 3/31/2020, 1:43:24 PM Singapore to punish companies that do not implement home working Stefania Palma in Singapore Singapore has said it is now an offence for companies not to implement working from home if they are able to do so, as the city state faces a jump in locally transmitted cases. Companies that
It’s a simple fact that clothes wear out and styles change. This means that it’s inevitable that everyone needs to repair or replace clothing once in a while, even those who absolutely despise shopping for new clothes. For frugal shoppers, this means buying clothes when you can get the very best prices, which can often
China’s food delivery leader Meituan Dianping warned that its first-quarter revenue would shrink as a result of the coronavirus pandemic, which has halted the operations of restaurants, hotels and local businesses that rely on its “everything app” for deliveries and bookings. On Monday the company reported that it had turned an annual profit for the
The Virgin Orbit ventilator device. Virgin Orbit Richard Branson’s California-based rocket company Virgin Orbit partnered with medical researchers and developed a ventilator device that the company plans to mass produce and send to hospitals around the United States to fight coronavirus. “[It is] a very, very simple and robust design that we can get out to
A Johnson & Johnson building is shown in Irvine, California. Mike Blake | Reuters Check out the companies making headlines midday Monday: Johnson & Johnson — Johnson & Johnson shares jumped more than 7% after the company announced it has a coronavirus vaccine candidate, noting that human testing on the medication will begin in September.
Zenplace robot shownig a home to prospective buyers. Source: Zenplace While homebuyer demand has plummeted, there are still some out there who may need to move, and either purchase or rent a home. So, much like all interaction in the age of COVID-19, home touring is moving online and going solo. Zillow, a home listing
Nevada’s state-ordered stay-at-home order has turned the Las Vegas strip into a ghost town. “The city is working with other local and state agencies and the business community during the pandemic,” said Jace Radke, a Las Vegas city spokesman. “Las Vegas will be ready for all who are dreaming of a visit after the country
How Do Fixed Costs and Variable Costs Affect Gross Profit? Gross profit is an important measure of a company’s profitability that indicates its ability to turn a dollar of revenue into a dollar of profit, after accounting for all expenses directly associated with producing goods or services for sale. Gross profit is simply total revenue minus
Charlotte Middlehurst 3/30/2020, 11:08:42 AM Chinese University of Hong Kong offers free stool tests for children The Chinese University of Hong Kong has offered to conduct free stool screening tests for children arriving in the city by air starting from Saturday 29 March amid fears of a fresh round of coronavirus cases. The current test
The financial media have coined a few pejorative phrases to describe the pitfalls of borrowing money from a 401(k) plan. Some—including financial planning professionals—would even have you believe that taking a loan from a 401(k) plan is an act of robbery committed against your retirement. But a 401(k) loan can be appropriate in some situations.
For the past week I have been listening exclusively to feel-good stories, thekind that lift you out of your surroundings, put a smile on your face and lead you to urge family, friends and strangers on the internet to listen to them too. This is no time for podcasts about trauma or infectious diseases (though
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 Cboe Volatility Index (VIX), has become one of the most widely watched indicators of market sentiment in the world. In theory, it works on a simple principle: It is a measure of the stock market’s expectation of volatility over the following 30 days based on near-term S&P 500 index options, both puts and calls.
Patrick T. Fallon | Bloomberg | Getty Images Check out the companies making headlines after the bell. GameStop — Shares of the video game retailer surged 14% in extended trading after the company said it had seen a positive impact on its business from the coronavirus. “The COVID-19 outbreak has led to changes in how consumers
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
Municipal benchmark yields were five to 10 basis points lower Friday, extending the market’s recent rally through the end of the week. The municipal market has weathered an unprecedented, volatile month during which the market swung from record-low yields to a 200-basis-point selloff before erasing much of the losses as the impact of the coronavirus
Anyone who visits Manhattan will recognize the bright signs and billboards that are a hallmark of Times Square. If you’ve never been there, this landmark piece of New York real estate is often seen in television or film, so you’ll understand what the fuss is about. Times Square billboard advertising today enjoys plenty of ad dollars thanks to digital
German politicians have rounded on Adidas after the sportswear group made use of the government’s emergency response to the Covid-19 crisis by holding back rent payments on its shops. Olaf Scholz, the German finance minister, told the Bild newspaper on Sunday that it was “irritating when big companies simply announce a halt to rental payments”.
The national debt level has been a significant subject of U.S. domestic policy controversy. Given the amount of fiscal stimulus pumped into the U.S. economy over the past couple of years, it is easy to understand why many people are starting to pay close attention to this issue. Unfortunately, the manner in which the debt
News you might have missed A coronavirus-stricken cruise liner stuck off the coast of Panama has begun transferring healthy holidaymakers to a sister ship, as Panama reversed course on Saturday and decided to allow it to dock. Four passengers have died and two Covid-19 cases have been confirmed on board the Zaandam. Holland America Line,
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:
People make face shields at the Brooklyn Navy Yard where local industrial firms have begun manufacturing Personal Protective Equipment (PPE) on March 26, 2020 in New York City. Eduardo Munoz Alvarez | Getty Images Everything from auto sales to manufacturing surveys and employment data in the coming week will likely paint a bleak picture of
Newly constructed single family homes are shown for sale in Encinitas, California, July 31, 2019. Mike Blake | Reuters With more than 92,000 coronavirus cases and at least 1,380 deaths in the U.S. that have been linked to COVID-19, the U.S. currently has the most reported cases of coronavirus across the globe, putting life on hold for
Investors have spent the past couple of weeks in a “sell everything” mind set. That’s turned into a windfall for money-market funds. Money flowed into those funds at a breakneck pace in the most recent week, data from Refinitiv Lipper show. It was the third straight week of record highs, each one nearly doubling the
Puerto Rico bankruptcy Judge Laura Taylor Swain on Friday ordered the postponement of deadlines in the central government bankruptcy. The Puerto Rico Oversight Board, citing the impact of the COVID-19 virus on the island and involved lawyers, asked for the postponement on Sunday. Puerto Rico bankruptcy Judge Laura Taylor Swain has delayed some parts of