President Donald Trump deployed the government’s powers to compel General Motors to make ventilators needed to help healthcare providers treat patients that contract coronavirus, as the number of US cases continues to grow. The White House on Friday invoked the Defense Production Act, under which the president can compel companies to make certain products. “Our
Month: March 2020
The earlier you start a Roth IRA the better, but opening a Roth IRA when you’re close to retirement can still make sense under some circumstances. Many are at their peak earning years late in their careers. You might find you have extra money available to invest after the mortgage is paid off and the
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
A woman looks at real estate listings outside a Berkshire Hathaway Home Services office in Montclair, N.J. Adam Jeffery | CNBC An increase in interest rates, combined with a massive shutdown of the economy caused homeowners and potential homebuyers to back away from the mortgage market. Total mortgage application volume fell 29.4% last week from
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
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
The UK prime minister Boris Johnson has tested positive for coronavirus, Downing Street has announced. Number 10 said Mr Johnson had mild symptoms, notably a temperature and a cough, and would self-isolate for the next seven days. But officials insisted that he would continue to lead the government’s response to the crisis. Mr Johnson posted
Moving outstanding debt on one credit card to another card—usually a new one—is a balance transfer. Credit card balance transfers are typically used by consumers who want to move the amount they owe to a credit card with a lower interest rate, fewer penalties, and better benefits, such as rewards points or travel miles. What
Kevin Matras explains the Price to Sales ratio and why it’s one of his favorite valuation metrics. Stocks highlighted include CACI, LF, NCI, RRGB and TRN.
The US has overtaken China to become the country with the largest number of confirmed coronavirus cases in the world, with 81,943 Americans now testing positive for Covid-19. State-by-state figures published late on Thursday showed confirmed cases of coronavirus in the US had overtaken the 81,285 cases reported by China, with the biggest outbreaks in
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
A man cleans up on the trading floor, following traders testing positive for Coronavirus disease (COVID-19), at the New York Stock Exchange (NYSE) in New York, U.S., March 19, 2020. Lucas Jackson | Reuters There was considerable trepidation among trading desks over the weekend as many in California, New York, and Massachusetts were told to
WeWork Executive Chairman Marcelo Claure during an interview with Andrew Ross Sorkin at WeWork headquarters in New York City on February 10, 2020. David A. Grogan | CNBC WeWork is telling investors it has enough cash on hand to execute its long-term plans and weather the near-term challenges posed by COVID-19. In a seven-slide deck
March 20, 2020 Investopedia’s mission is to help people be in control of their financial lives, and that mission is just as important as ever given the health and economic crisis we are all living through. We’ve organized the most important information about a variety of financial topics that are particularly relevant in today’s financial
Sanjay Mehrotra, CEO of Micron Technology, appears on CNBC’s Squawk on the Street at the 2020 World Economic Forum in Davos, Switzerland on Jan. 22nd, 2020. Gerry Miller | CNBC Check out the companies making headlines midday Thursday: Micron Technology — Shares of the semiconductor company rose 6.8% Thursday after beating Wall Street expectations on
Over the past few years, TRON (TRX) has emerged as one of the more promising cryptocurrencies in the market, and today, there was another landmark announcement regarding the token. According to the announcement today, TRX has partnered with Metal Pay, a cryptocurrency service provider, and the agreement is expected to be beneficial for the cryptocurrency.
As the last train pulled out Wednesday night, Virgin Trains USA tweeted that all of its passenger service in South Florida had been suspended, with no expected date for it to resume. The company, whose trains still bear the Brightline logo, also laid off 250 workers due to the quickly spreading novel coronavirus in its
The COVID-19 novel coronavirus has caused a crisis for the world’s economy and markets. With over 137,000 cases confirmed in countries all over the world, the World Health Organization has declared the virus to be a global pandemic, meaning that it will have a sustained global impact. With many countries’ economies already slowing before
The European Central Bank has given itself an unprecedented level of flexibility in its plan to buy €750bn in additional bonds to contain the financial fallout from the coronavirus pandemic, which analysts say could leave it open to legal challenges. Almost all constraints that applied to the ECB’s previous asset-purchase programmes have been removed or
When a government needs money to fund its operations, it can raise cash by issuing debt in its own currency. And if a government encounters difficulty repaying the bonds upon their maturity dates, it can simply print more money. While this solution has merit, on the downside, it will likely decrease the values of the
Japanese stocks led a strong rebound for Asia-Pacific markets after the prospect of a $2tn coronavirus stimulus package propelled Wall Street to its best day in more than a decade. The rally came despite an increasingly dire situation in terms of the pandemic, as organisers postponed the Tokyo 2020 Olympic Games and the global death toll
The coronavirus pandemic is shutting down entire sectors of the economy and putting millions of Americans out of work, but one corner of Wall Street may find opportunity amid the carnage: private equity. The group, which includes investment giants Blackstone, Carlyle and KKR, has a record $1.5 trillion in cash ready to deploy and has
A pedestrian walks past the Federal Reserve building on Constitution Avenue in Washington on March 19, 2019. Leah Millis | Reuters The Federal Reserve pulled out another series of bazookas today, including a flurry of programs to buy more Treasuries and mortgage-backed securities. But one move that surprised many was the decision to buy corporate
A worker leaves the Boeing 737 factory on December 16, 2019 in Renton, Washington. Stephen Brashear | Getty Images Check out the companies making headlines in midday trading. Boeing — Shares of Boeing jumped nearly 32% after the Senate and White House agreed to a $2 trillion stimulus bill that should prove to be a windfall for
The coronavirus crisis has seen Bitcoin price nosedive in one of the greatest Bitcoin price crashes since its inception. With a 52% drop in price in a single week, the coronavirus has left many Bitcoin enthusiasts scratching their heads. Even the legendary crypto trader, Peter Brandt, who predicted Bitcoin’s peak way back in 2017, tweeted
Lawmakers are working to reach an agreement on a massive stimulus package to combat the economic impact of coronavirus. Real estate investor Tom Barrack, Colony Capital chairman and CEO, is warning commercial mortgages are on the brink of collapse and that we are seeing the beginning of “a second crisis that will occur in the
The coronavirus pandemic has had a highly damaging effect on the capital markets, and eventually, the effect was felt in other asset classes like cryptocurrencies as well. While this did affect the world’s biggest cryptocurrency, Bitcoin has made a remarkable recovery over the past 24 hours. BTC gained 10% in the last 24 hours, and
With the Federal Reserve bringing the Fed funds target rate down to the zero lower bound, communication takes on a vital role, and, if used properly, can enhance Fed actions. At the March 6 Shadow Open Market Committee meeting, before rates hit ZLB, panelists discussed improving Fed communication, including its use of unconventional tools. The
With a combined estimated net worth of $18.2 billion, the S.C. Johnson family is one of the richest American families. The family’s wealth was initially created by its namesake, who acquired a manufacturing company in 1886. The company was eventually taken over by his son Herbert Fisk Johnson. Since then, the family fortune has passed
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