U.S. cities are grappling with the aftermath of another night of protests sparked by the killing of George Floyd while in police custody in Minneapolis. Peaceful protests against police brutality and systemic racism once again turned destructive overnight, with tensions flaring between law enforcement and demonstrators. State and local officials […]
CNBC News
Why stocks could keep going higher even with massive unrest across America
A boarded-up Best Buy location in New York, June 2, 2020, after a night of looting. Dan Mangan | CNBC The great rotation continues, with some of the most down-trodden names leading the market higher: industrials, airlines, financial institutions, and energy companies. Powerful monetary and fiscal stimulus programs are keeping stocks […]
Amazon plans summer sale for June 22 to ‘jumpstart sales’ after coronavirus crunch
Billie Her, a warehouse associate, wraps plastic around a pallet of boxes at Amazon’s Fulfillment Center in Thornton, Colorado. Helen H. Richardson| The Denver Post | Getty Images Amazon has set a date for its “Summer Sale” event that’s designed to provide a boost for sellers feeling the impacts of […]
George Floyd protests: Minnesota files civil rights charge against Minneapolis Police Department
U.S. cities are grappling with the aftermath of another night of protests sparked by the killing of George Floyd while in police custody in Minneapolis. Peaceful protests against police brutality and systemic racism once again turned destructive overnight, with tensions flaring between law enforcement and demonstrators. State and local officials […]
Zoom revenue grows by 169% with people working from home
Zoom CEO Eric Yuan speaks before the Nasdaq opening bell ceremony in New York on April 18, 2019. Kena Betancur | Getty Images Zoom shares rose as much as 7% and later lost some of their gains after the videoconferencing software company reported major revenue growth during its fiscal first quarter on […]
Stocks jump as Wall Street focuses on the economy reopening, S&P 500 now up 40% from March low
Stocks rose on Tuesday as traders focused on the reopening of the economy from the coronavirus pandemic even amid civil unrest around the U.S. The S&P 500 gained 0.8% to close at 3,080.82, reaching its session high with less than 30 minutes left in the session. Tuesday’s gains put the S&P 500 […]
Negative interest rates could be needed for a ‘V’ recovery, Fed economist says
Chris Wattie | Reuters Getting the U.S. economy back to strong growth could require negative interest rates, according to a St. Louis Federal Reserve economist. As many economists dismiss the likelihood of the current record-breaking slump being followed by an equally aggressive recovery, central bank economist Yi Wen said in […]
George Floyd protests: Businesses speak out; Instagram users flood the app with ‘Blackout’ posts
U.S. cities are grappling with the aftermath of another night of protests sparked by the killing of George Floyd while in police custody in Minneapolis. Peaceful protests against police brutality and systemic racism once again turned destructive overnight, with tensions flaring between law enforcement and demonstrators. State and local officials […]
Wells Fargo, worried about defaults, stops making loans to most independent car dealerships
David Paul Morris | Bloomberg | Getty Images Wells Fargo is tapping the brakes on its auto loan business, CNBC has learned exclusively. The bank, one of the biggest lenders for new and used car purchases in the U.S., sent letters to hundreds of independent auto dealerships last month telling […]
George Floyd protests: Virginia refuses to send national guard troops to DC, while NYC extends curfew
U.S. cities are grappling with the aftermath of another night of protests sparked by the killing of George Floyd while in police custody in Minneapolis. Peaceful protests against police brutality and systemic racism once again turned destructive overnight, with tensions flaring between law enforcement and demonstrators. State and local officials […]