Business

CNBC’s Jim Cramer on Thursday praised the Federal Reserve‘s latest moves to help keep afloat a U.S. economy that’s been battered by the coronavirus pandemic. Before the stock market opened, the Federal unveiled details of its much-anticipated Main Street lending program and other initiatives, a total of $2.3 trillion in loans to help businesses and municipalities.

Stock futures moved lower in overnight trading, pointing to losses at the open on Thursday. The move pointed to a loss of 50 points, or 0.2%, for the Dow, with the S&P 500 and Nasdaq-100 slated to open 0.3% and 0.6% lower, respectively.  Stocks surged on Wednesday, with the major averages spending the entire session

This is a live blog. Please check back for updates. Global cases: More than 1,511,104 Global deaths: At least 88,338 Most cases reported: United States (429,052), Spain (148,220), Italy (139,422), France (113,959), and Germany (113,296).  The data above was compiled by Johns Hopkins University as of 8:10 a.m. Beijing time.  All times below are in Beijing time.

Thomas Barwick This year, the coronavirus relief law is letting savers bypass mandatory withdrawals from their retirement accounts. While that’s good news, it’s still generating plenty of questions from account holders. Generally, savers who turn 70½ must begin annual required minimum distributions, or RMDs, from their retirement accounts and pay taxes on those withdrawals. However,

A shopper prepares to pay for items at a Kohl’s department store in Peru, Illinois, May 16, 2019. Daniel Acker | Bloomberg | Getty Images Kohl’s has withdrawn its earnings outlook for the current quarter and fiscal year, as it grapples with the hit it will take from the coronavirus pandemic.  The department store chain will

Exxon is slashing its 2020 capital spending plan as depressed oil prices hammer the energy sector, but CEO Darren Woods said that the company’s dividend is safe for the time being. “A lot of our shareholders are retail shareholders — people who depend on that dividend — so we’ve been pretty committed to maintaining that

Stock futures fell slightly in overnight trading on Monday, following a steep rebound in the previous session, as investors grew more hopeful that the peak in coronavirus cases could be reached soon. Futures on the Dow Jones Industrial Average dipped about 70 points, implying a 140-point loss at Tuesday’s open. The S&P 500 and the

People wearing protective masks walk through Lu Xun Park in Shanghai, China, on Thursday, April 2, 2020. Qilai Shen | Bloomberg via Getty Images This is a live blog. Please check back for updates. Global cases: At least 1,341,907.  Global deaths: At least 74,476. Top 5 countries: United States (366,614), Spain (136,675), Italy (132,547), Germany (102,453), and

SIphotography | Getty Images It’s been about a week since Congress pushed through a new bill that will send $1,200 stimulus payments to millions of Americans. And your questions about who is eligible for that money and how soon it could arrive keep on coming. Individuals with adjusted gross income of up to $75,000 stand

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2020. Lucas Jackson | REUTERS Heading into earnings season, investors should expect delayed reports, withdrawn forecasts and confusing results from U.S. businesses grappling with the coronavirus shutdown.  There is a general consensus that company earnings are going

One of the advantages of being in the investment business for as long as I have is that, in times of incredible market distress, I get to invoke that wry and somewhat misleading saying, “Well, this isn’t my first rodeo.”  Another advantage is that my past was full of so many research assignments that I

Steven Mnuchin, U.S. Treasury secretary, speaks during a Coronavirus Task Force news conference at the White House in Washington, D.C., U.S., on Thursday, April 2, 2020. Kevin Dietsch | Bloomberg | Getty Images The Treasury Department changed the terms on some loans it’s offering to small businesses during the coronavirus pandemic, making them more unfavorable

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: At least 1,134,418. Global deaths: At least 60,115 US cases: At least 278,458 US deaths: At least 7,159 The data

Elenaleonova | Getty Images Online tax preparation service TurboTax has launched a free stimulus registration website so that Americans who do not typically file tax returns can get their relief checks faster. Millions of Americans are slated to get one-time government checks of up to $1,200 or $2,400, based on whether they are single or

A pedestrian passes in front of a Walgreens Boots Alliance Inc. store in the Hollywood neighborhood of Los Angeles, California. Christopher Lee | Bloomberg | Getty Images Walgreens Boots Alliance beat Wall Street earnings expectations Thursday, sending shares up about 3% in early trading. Here’s what Walgreens reported for its fiscal second quarter of 2020 compared

Brian Moynihan, CEO, Bank of America Scott Mlyn | CNBC Bank of America says it is capable of accepting online applications for the government’s $350 billion small business relief program, becoming the first major bank to make that announcement.  Just minutes earlier on Friday, none of the websites of four of the biggest U.S. banks — 

U.S. President Donald Trump, joined by members of the Coronavirus Task Force, speaks about the coronavirus outbreak in the press briefing room at the White House on March 17, 2020 in Washington, DC. (Photo by Drew Angerer/Getty Images) Drew Angerer Two financial-relief measures the Trump administration is weighing to fight the economic scourge of the

Ursula von der Leyen, incoming president of the European Commission, left, speaks during news conference at the European Parliament, in Strasbourg, France, on Tuesday, July 16, 2019. Bloomberg | Bloomberg | Getty Images European tech industry groups are stepping up their lobbying efforts to ensure the EU supports start-ups hit hard by the coronavirus crisis.

Reported COVID-19 cases around the world surpassed 1 million on Thursday, doubling in a week as the virus spreads across Europe and North America and establishes a toehold in Africa.  Just before global cases reached 1 million, the COVID-19 worldwide death toll passed 50,000, according to data compiled by Johns Hopkins University. COVID-19 has now

Portra Images | Getty Images If your financial life has hit a rough patch, you may be thinking about taking a loan from your 401(k) savings plan. Yet is it the right move to make? Many financial experts typically advise against it, calling it a “last resort.” However, with the coronavirus pandemic causing layoffs and

Michael Wirth, CEO, Chevron, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galasia | CNBC Chevron will slash capital spending by $4 billion this year and suspend share buybacks, the latest oil company to cut costs in the face of an unprecedented slide in oil prices. Oil has crashed by

Analysts have warned that falling oil prices will lead to a wave of consolidation or bankruptcies in the U.S. energy sector, and the Street got its first taste of what could be to come when U.S. shale producer Whiting Petroleum filed for bankruptcy on Wednesday. “The oil patch is falling apart … This is the other

Wealthy New Yorkers fleeing the city are driving up the prices of rentals in the Hamptons and Hudson Valley, with rates more than tripling for some properties. As New York City considers “shelter in place” rules and the number of coronavirus cases skyrockets, New Yorkers who can afford it are decamping to more rural locales.

U.S. stock futures moved lower in overnight trading and pointed to declines at the open on Wednesday, following the end of the worst first quarter on record for the Dow and S&P 500 spurred by the coronavirus sell-off. Dow Jones Industrial Average futures fell more than 1.2%, indicating a loss of about 220 points. The

President Donald Trump speaks during a news conference in the Rose Garden of the White House in Washington, March 29, 2020. Al Drago | Reuters President Donald Trump prepared Americans for a coming surge in coronavirus cases, calling COVID-19 a plague and saying the U.S. is facing a “very, very painful two weeks.”  “This is

Amid a global pandemic and sharp economic slowdown, college-bound high school seniors are giving their state schools a second look. Thanks to heightened financial concerns, students and families may be more likely to choose local and less-expensive public schools rather than private universities far from home, according to Robert Franek, editor in chief of The Princeton Review

Citadel, the Chicago-based hedge fund giant led by billionaire Ken Griffin, has so far weathered the coronavirus market storm well, turning a slight profit in its flagship Wellington hedge fund for the year through Monday, according to a person familiar with the situation. The fund, which practices a so-called multi-strategy array of bets on stocks,

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

Five years after my husband died, I wrote in my journal: “I am so much more than just a widow. I’m a thriving independent woman!” Yes, I was firmly in Stage 3 of widowhood — transformation — after navigating the first two phases of grief and growth. Like many other women who also have also

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 U.S. stock futures opened lower on Sunday night following sharp gains last week while the number of coronavirus cases in the U.S. keeps rising at an alarming rate.