National Guard troops listen to New York Governor Andrew Cuomo as people wait to be tested at the State’s First Drive Through COVID-19 Mobile Testing Center at Glen Island Park in New Rochelle, New York March 13, 2020. Timothy A. Clary | AFP | Getty Images This is CNBC’s 24-hour […]
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These retailers are closing stores to slow coronavirus outbreak
A man checks his phone in an Apple retail store in Grand Central Terminal in New York City. Drew Angerer | Getty Images Major retailers across the U.S. are shutting down their stores or reducing hours in response to the coronavirus pandemic. The decisions, while smart for customers, workers and […]
Bank of America CEO Moynihan says ‘we’re in a war to contain this virus’
US President Donald Trump gestures as CEO of Bank of America Brian Moynihan (L) speaks during a meeting with banking leaders to discuss how the financial services industry can meet the needs of customers affected by COVID-19 at the White House in Washington, DC on March 11, 2020. Brendan Smialowski […]
Op-Ed: Don’t try to ‘call a bottom’ for the whole market, instead pick stocks for the long term
Markets are functioning well. The trading stops are working as designed. After nearly a 30% drop, investors will begin to consider buying. But, with a global recession at hand, the fundamentals on which value decisions are based will deteriorate. It’s a guess as to how far. So what’s the right […]
How the deadly coronavirus brought an industry to its knees: The ‘cruise lines 9/11’
Members of media gather at the Diamond Princess cruise ship, operated by Carnival Corp., docked in Yokohama, Japan, on Friday, Feb. 7, 2020. Toru Hanai | Bloomberg Getty Images Jackie Ceren has seen a lot in 41 years working in the travel industry, but she’s never seen anything like what’s […]
Coronavirus live updates: Cuomo calls on Trump to mobilize military, de Blasio says ‘equivalent of war’
National Guard troops listen to New York Governor Andrew Cuomo as people wait to be tested at the State’s First Drive Through COVID-19 Mobile Testing Center at Glen Island Park in New Rochelle, New York March 13, 2020. Timothy A. Clary | AFP | Getty Images This is CNBC’s 24-hour […]
The Federal Reserve has taken massive steps to help markets. Here’s what’s left in its arsenal
Federal Reserve Chairman Jerome Powell speaks to reporters after the Federal Reserve cut interest rates in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus, during a news conference in Washington, March 3, 2020. Kevin Lamarque | Reuters The Federal Reserve took dramatic […]
Treasury Secretary Mnuchin does not expect recession from the coronavirus
Steven Mnuchin, U.S. Treasury secretary, speaks during a news conference in the briefing room of the White House in Washington, D.C., U.S., on Saturday, March 14, 2020. Shaw Thew | Bloomberg | Getty Images Treasury Secretary Steven Mnuchin is confident the U.S. economy will weather the downturn from the coronavirus […]
Coronavirus live updates: Nike closes all US stores, American Airlines suspends long-haul flights
A passenger looks at his phone while wearing a protective face mask at the Phoenix International Airport on March 14, 2020 in Phoenix, Arizona. Passengers are wearing masks to avoid the spread of the coronavirus (COVID-19). Carol Coelho This is CNBC’s 24-hour blog covering all the latest news on the […]
Trader creates new stock acronym for coronavirus-fueled panic: ‘It’s always darkest before the DAWN’
“It’s always darkest before the DAWN.” That might just be Strategic Wealth Partners chief Mark Tepper’s new mantra as he looks for stocks that could weather the market’s volatile swings amid rapidly rising fears of the coronavirus pandemic. It’s also Wall Street’s newest stock acronym. “Schools are closing. Professional sports […]