A sign hangs above the entrance to a Bank of America branch in Chicago, Illinois. Scott Olson Bank of America CEO Brian Moynihan said his bank’s 200,000-plus employees won’t have to worry about layoffs this year, joining banks including Morgan Stanley and Citigroup in making similar pledges.  “We don’t want our teammates to worry about their jobs
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Cabania | iStock | Getty Images Plus Congress has passed a $2 trillion coronavirus stimulus bill, and you’re probably already counting up the money you could receive in relief checks — if you’re eligible. Generally, individuals who earn $75,000 or less qualify for $1,200 one-time payments, while couples making $150,000 or less may receive $2,400.
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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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Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, chairs a symposium at the School of Medicine at Tsinghua University in Beijing, capital of China, March 2, 2020. Yan Yan | Xinhua News Agency | Getty Images Chinese President Xi Jinping called
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Yellow Dog Productions  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
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A Lululemon sign hangs in front of their store at the Woodbury Commons Premium Outlets shopping mall on November 17, 2019 in Central Valley, New York. Gary Hershorn | Corbis News | Getty Images Lululemon announced Thursday fiscal fourth-quarter results that topped expectations, as its same-store sales surged 20% during the period, thanks, in part, to
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Small businesses are getting a potential lifeline from Congress. The massive $2 trillion economic rescue package — expected to get final approval from Congress 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 cash flow
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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
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This is a live blog. Please check back for updates. 9:27 am: Mnuchin says coronavirus stimulus checks will come within three weeks Treasury Secretary Steven Mnuchin said Thursday that people will start getting relief checks within three weeks, as the country reels from the coronavirus pandemic. Mnuchin spoke to CNBC the morning after the Senate
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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
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Mike Wilson, Chief U.S. Equity Strategist and Chief Investment Officer at Morgan Stanley. Adam Jeffery | CNBC Investors should be taking advantage of the market’s steep coronavirus-driven sell-off from February highs, Morgan Stanley‘s Mike Wilson told CNBC on Thursday.  “We’ve been scaling back into stocks over the last two, three or four weeks. We’re not
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Paul Tudor Jones Kevin Mazur | Getty Images Hedge fund manager Paul Tudor Jones said Thursday investors should commend Washington’s policy response to the economic shock from the coronavirus pandemic.  “Investors can take heart that we’ve counteracted this existential shock with the greatest fiscal, monetary bazooka. It’s not even a bazooka. It’s more like a nuclear bomb,”
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Ken Griffin Lucy Nicholson | Reuters Renaissance Technologies’s James Simons, Citadel’s Ken Griffin, Points72’s Steven Cohen and Appaloosa Management’s David Tepper were among the biggest hedge fund earners in 2019 with each man raking in over $1 billion, according to Institutional Investor’s Rich List. No. 1 on the list was Christopher Hohn of TCI Fund Management,
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Stocks’ swift and steep sell-off is providing the type of buying opportunity that doesn’t come around all that often, and investors should take advantage of the downturn, according to Ariel Investments’ chairman John Rogers. “I think this is a maybe once in a lifetime opportunity to buy stocks at bargain prices,” he said Wednesday night
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