Crown Prince of Saudi Arabia Mohammed bin Salman al Saud at a ceremony to sign joint documents following Russian-Saudi talks at the Al-Yamamah Royal Palace. Alexei Nikolsky | TASS via Getty Images Oil prices dipped during early morning deals on Monday, shortly after the CEO of Russian sovereign wealth fund RDIF told CNBC that Moscow and
A person wearing a face mask walks along Wall Street after further cases of coronavirus were confirmed in New York City, New York, U.S., March 6, 2020. Andrew Kelly | Reuters U.S. stock futures rose on Sunday night as Wall Street tried to recover from another decline last week while investors shook off rising tensions between
A Cal Fire firefighter monitors a burning home as the Camp Fire moves through the area on November 9, 2018 in Magalia, California. Justin Sullivan | Getty Images First responders are preparing for raging wildfires that they expect will consume thousand of acres and drive some residents from their homes in upcoming months. But this
Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russia’s Energy Minister Alexander Novak are seen at the beginning of an OPEC and NON-OPEC meeting in Vienna, Austria December 6, 2019. Leonhard Foeger | Reuters The virtual meeting between OPEC and its allies scheduled for Monday has been postponed, sources familiar with the
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 The coronavirus pandemic has roiled capital markets, but it has also led to something that was once unthinkable on Wall Street:
Dow Jones Industrial Average falls 360 points The Dow slid 360.91 points, or 1.69%, to close at 21,052.53. The S&P 500 closed 1.51% lower at 2,488.65. The Nasdaq Composite fell 1.53% to 7,373.08. Mounting worries over the coronavirus and a dismal jobs report pressured equities to end the week. Spike in NY coronavirus deaths New
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 less favorable
An abysmal March jobs report gives a glimpse of the devastating economic damage caused by the coronavirus pandemic. Another surge in oil prices on expected output cuts limited the losses in the stock market. Major equity averages suffered their third week of losses in four as the coronavirus crisis deepened. Here’s what happened: 4:22 pm: Sell-off by
Bank of America said Friday it is now capable of accepting online applications for the government’s $350 billion small business relief program, becoming the first major bank to do so. As of mid-morning New York time, none of the websites of the three other big U.S. banks — JPMorgan Chase, Wells Fargo or Citigroup — were accepting applications
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.
As small business owners await a much-needed lifeline Friday in the form of a massive expansion of the Small Business Administration’s 7(a) lending program, new data show just how dire the situation is for Main Street as questions circulate about the program’s readiness. The National Federation of Independent Business’ Research Center is out with a
Oil prices skyrocketed on Thursday after President Donald Trump told CNBC Saudis and Russia will ease pressure on oil, ending a price war that has contributed to crude’s massive plunge. West Texas Intermediate crude futures surged 20%, or $4.12 to trade at $24.40 per barrel. Crude prices jumped as high as $27.39 Thursday following the news. International
This photo taken on March 23, 2020 shows employees eating during lunch break at an auto plant of Dongfeng Honda in Wuhan in China’s central Hubei province. STR | AFP | China As the second quarter begins in China, it’s an altered landscape in the coronavirus-stricken economy with businesses that remain shut — some for good.
U.S. stock futures rose in overnight trading and pointed to gains at the open on Thursday, as markets try to rebound after kicking off the second quarter in the red. Dow futures rose 218 points, indicating a 152-point gain at the open on Thursday. The S&P 500 and Nasdaq Composite were also set to open
U.S. President Donald Trump signs H.R. 748, the CARES Act in the Oval Office of the White House on March 27, 2020 in Washington, DC. Erin Schaff | Getty Images The $2 trillion coronavirus stimulus bill, signed into law on March 27, is the largest emergency aid package in U.S. history. Known as the CARES
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
A Jeep Renegade rolls down an assembly line at Fiat Chrysler’s Melfi assembly plant in Italy in 2015. Michael Wayland / CNBC Check out the companies making headlines after the bell. Verint Systems — Shares of the analytics company tumbled 12% in extended trading after Verint Systems missed analysts’ estimates on both earnings and revenue in
The market is wrapping up a brutal quarter as investors search for a bottom in the fastest bear market ever amid the coronavirus crisis. The Dow Jones Industrial Average is on track to post its worst first quarter in history, but the recent sharp rebound raises the question if the worst is behind us. Here’s
A near-empty Piccadilly Circus is seen pictured at night on March 28, 2020 in London, England. Ollie Millington | Getty Images British tech start-ups are lobbying the government for an emergency support package to help them weather the storm of the coronavirus pandemic. The U.K., which has been formally on lockdown since March 23, introduced
Stock futures climbed slightly higher in overnight trading on Monday, continuing the market’s rebound from its deep rout triggered by the coronavirus pandemic. Futures on the Dow Jones Industrial Average rose about 70 points. The S&P 500 futures also traded 10 points higher. The overnight action followed a strong session on Wall Street, with the Dow
Foreign “guest workers” drill at the Saudi Aramco oil field complex facilities on March 2003 in Shaybah, Saudi Arabia. Reza | Getty Images U.S. oil dropped more than 7% to trade around an 18-year low on Monday as demand continues to evaporate, and as Saudi Arabia and other OPEC+ nations prepare to ramp up production.
Federal Reserve Chair Jerome Powell holds a news conference following the Federal Open Market Committee meeting in Washington, December 11, 2019. Joshua Roberts | Reuters The Mortgage Bankers Association in a dire letter to regulators Sunday warned that the U.S. housing market is “in danger of large-scale disruption,” due to efforts by the Federal Reserve
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 traded 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.
Hank Paulson David Orrell | CNBC Former Treasury Secretary Hank Paulson warned that the U.S. faces a “very difficult road ahead” after President Trump signed a historic $2 trillion coronavirus relief bill. Paulson, a key figure in helping the country avoid economic catastrophe during the 2008 financial crisis, drew on his experience from that tumultuous period
The stock market has gone so haywire amid the coronavirus crisis that some strategists on Wall Street are giving up on forecasting what comes next. Over the past week or so, chief market strategists at BMO, Oppenheimer and Canaccord Genuity have all suspended their year-end targets on the S&P 500, blaming the unprecedented economic uncertainty that makes projecting
In this photo taken March 20, 2020, cattle rancher Joe Whitesell rides his horse in a field near Dufur, Oregon, as he helps a friend herd cattle. Gillian Flaccus | AP U.S. farmers have endured a slew of financial hardships over the past few years. The U.S.-China trade war sent scores of farmers out of
The Robinhood application is displayed in the App Store on an Apple Inc. iPhone in an arranged photograph taken in Washington, D.C., U.S., on Friday, Dec. 14, 2018. Andrew Harrer | Bloomberg | Getty Images Robinhood’s recent show of goodwill came with strings attached, according to some users. On Monday, the trading start-up offered a
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 Dow Jones Industrial Average falls 915 points The Dow closed 915.39 points lower, or 4.06%, at 21,636.78. The S&P 500 slid 3.37% to 2,541.47. The Nasdaq Composite pulled
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
This is a live blog. Check back for updates. 11:44 am: Boeing shares fall as planemaker says it won’t seek government bailout 11:34 am: Pet insurer Trupanion “close to recession resistant,” says RBC With some investors saying the economy could get worse before turning a corner, RBC identified a number of small cap names that can outperform