Marco Bello | Reuters The jobs recovery has slowed and, in some cases, reversed as coronavirus cases have surged in sunbelt states where case numbers are climbing and governors have reinstated economic restrictions. Data from Homebase, a scheduling firm whose daily updates on hourly workers have been closely watched by […]
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Dow rallies 300 points, but Nasdaq falls as tech struggles
The Dow Jones Industrial Average and S&P 500 traded higher on Tuesday as traders booked profits from the major tech names and added to positions in the more beaten-down value stocks. The 30-stock Dow gained 307 points, or 1.2%. The S&P 500 climbed 0.5%. The Nasdaq Composite, meanwhile, dropped 0.5% […]
Billionaires in New York could pay $5.5 billion a year under new tax
New York’s billionaires would pay about $5.5 billion a year under a new tax being proposed by Democrats in the state legislature. The tax, part of a new “Make Billionaires Pay” campaign by progressive lawmakers and activists, would impose a new form of capital gains tax on New Yorkers with […]
Walmart to spend $428 million on new round of worker bonuses, retailer will close on Thanksgiving
Customers wearing face masks shop at a Walmart supermarket amid novel coronavirus outbreak on July 15, 2020 in Washington, DC. Sha Hanting | China News Service via Getty Images Walmart said Tuesday that it will give another round of bonuses to hourly employees and close its stores on Thanksgiving Day. The […]
Germany’s coronavirus response is a master class in science communication
CNBC is looking at how places around the world have tackled Covid-19. By talking to a wide range of experts, as well as everyday citizens, we’re taking stock of what’s gone well — and what hasn’t. Germany has confirmed more than 200,000 cases of Covid-19 and more than 9,000 deaths […]
New coronavirus relief bill is likely coming in August
The top Democrat and Republican in the House cast doubt Tuesday on whether Congress can pass a coronavirus relief bill in time to avoid disrupting a key financial lifeline. “I envision that this bill doesn’t get done by the end of July,” House Minority Leader Kevin McCarthy, R-Calif., told CNBC’s […]
Dow jumps more than 200 points as IBM and Coca-Cola rise after earnings
Stocks rose on Tuesday as traders pored over a solid batch of corporate earnings and looked for more clues on further U.S. fiscal stimulus. The Dow Jones Industrial Average traded 283 points higher, or 1.2%. The S&P 500 climbed 0.6%. The Nasdaq Composite hit an intraday record before trading 0.3% […]
Dow extends gains, surges 300 points as IBM and Coca-Cola rise after earnings
Stocks rose on Tuesday as traders pored over a solid batch of corporate earnings and looked for more clues on further U.S. fiscal stimulus. The Dow Jones Industrial Average traded 328 points higher, or 1.2%. The S&P 500 climbed 0.8%. The Nasdaq Composite hit an intraday record before trading just […]
Congress looks unlikely to pass a coronavirus relief bill by the end of July
House Minority Leader Kevin McCarthy said he does not expect Congress to pass a new coronavirus relief bill by the end of July — meaning a key financial lifeline will likely expire. “I envision that this bill doesn’t get done by the end of July,” the California Republican told CNBC’s […]
Coronavirus pandemic cuts rent growth to a decade low
A house for rent in Corona Del Mar, California. Scott Mlyn | CNBC Back in February, just before the coronavirus hit the U.S. economy with a vengeance, rent growth for single-family homes had hit its highest pace in four years. Barely three months later, that growth plummeted to a decade […]