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 […]
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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 […]
Stock market live updates: Dow futures up 200, IBM pops, Amazon delays Prime Day
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EU leaders reach $2 trillion deal on recovery plan after marathon summit
The 27 European Union governments have reached a breakthrough agreement over new fiscal stimulus, following marathon talks in Brussels that lasted four days. The European Commission, the executive arm of the EU, has been tasked with tapping financial markets to raise an unprecedented 750 billion euros ($857 billion). The funds […]
Coca-Cola earnings fall 33%, but company sees improving demand as lockdowns ease
Coca-Cola on Tuesday reported its largest decline in quarterly revenue in at least 25 years, but the company sees demand improving as global lockdowns ease. CEO James Quincey said the company believes the second quarter will likely be the most challenging of the year. Shares of the company rose 2% in […]
Biden to unveil $775 billion plan to fund universal child care and in-home elder care
WASHINGTON — Former Vice President Joe Biden will unveil a sweeping new plan Tuesday that aims to fundamentally shift the way American families care for each other, both at the beginning of life and at the end. Dubbed the “21st Century Caregiving and Education Workforce” plan, Biden’s proposal would invest […]
Stock futures up in overnight trading after a strong tech rally on Wall Street
An artist name Theodore Tsinias who wrapped himself next to the Charging Bull to show his attention about world’s behavior amid Covid-19 pandemic in Lower Manhattan, New York City, United States on May 25, 2020. Tayfun Coskin | Anadolu Agency | Getty Images Stock futures were flat in overnight trading […]
Amazon officially delays Prime Day, but hasn’t set a new date
An employee looks for items in one of the corridors at an Amazon warehouse. Carlos Jasso | Reuters The coronavirus pandemic has pushed back Amazon‘s biggest shopping event of the year. Amazon is postponing Prime Day in the U.S., the company announced Tuesday. Amazon didn’t announce a date for the […]
Alibaba’s Ant could be bigger than some Wall Street banks — What you need to know about the dual IPO
Ant Group, an affiliate of Alibaba, announced plans for its long-awaited dual listing in Shanghai and Hong Kong on Monday. The company is known for running Alipay, one of China’s most popular mobile payment systems. But Ant Group has been expanding its reach into everything from wealth management to […]