Until the coronavirus crisis, nothing had been able to slow the pace of annual college tuition increases. Year after year, college costs edged higher, rising 3% to 5%, on average — outpacing inflation and family income. However, in the midst of the pandemic, schools are under pressure to keep these increases in check. Several institutions said
Brian Moynihan, CEO of Bank of America, at the Goldman Sachs U.S. Financial Services Conference on December 4, 2018. Michael Newberg | CNBC Bank of America CEO Brian Moynihan is awarding nearly all of his 212,505 employees a bonus for their work during the coronavirus pandemic. Staffers in the U.S. who earn $100,000 or less
Wall Street’s most hated stock GameStop surged again on Friday as the massive short squeeze continued to fuel its explosive rally. The video game stock soared as much as 69.4% to a high of $72.88 on Friday, bringing its gains to over 100% this week alone. Trading in the stock was briefly halted due to
Behind on your rent? A new fund helps those apply for assistance. Diego Martin Lopez | iStock | Getty Images A $25 billion federal rental assistance fund will soon be disbursed to states, allowing those struggling amid the pandemic to apply for the money. By one estimate, 14 million Americans are behind on their rent
President Donald Trump, accompanied by first lady Melania Trump, waves as he boards Air Force One at Joint Base Andrews, Maryland, U.S., January 20, 2021. Carlos Barria | Reuters Since former President Donald Trump launched his campaign in 2015, Trump and Twitter enjoyed a symbiotic relationship. Trump used the app to broadcast outlandish comments to
Speaker of the House Nancy Pelosi (D-CA) displays a signed an article of impeachment against President Donald Trump at the U.S. Capitol on January 13, 2021 in Washington, DC. Stefani Reynolds | Getty Images The House will deliver the impeachment article against former President Donald Trump to the Senate on Monday, Senate Majority Leader Chuck
fstop123 | E+ | Getty Images If you pulled money from your 401(k) plan or individual retirement account last year to get through tough times, now is the time to consider next steps. The federal CARES Act that was passed in March 2020 put in place very favorable terms for qualified retirement plan participants under
The U.S. stock market could roar higher if President-elect Joe Biden is able to smooth out the country’s rocky start to Covid vaccinations, CNBC’s Jim Cramer said Wednesday, just a few hours before the Democrat is sworn into office. “It’s pure chaos. I predicted it would be pure chaos. I never thought it would be
Flags of U.S. and China are displayed at American International Chamber of Commerce (AICC)’s booth during China International Fair for Trade in Services in Beijing, China, May 28, 2019. Jason Lee | Reuters BEIJING — In the wake of U.S. President Joe Biden‘s inauguration, China is talking up hope for better relations with Washington —
President Joe Biden signs an executive order after speaking during an event on his administration’s Covid-19 response with U.S. Vice President Kamala Harris, left, in the State Dining Room of the White House in Washington, on Thursday, Jan. 21, 2021. Al Drago | Bloomberg | Getty Images President Joe Biden will sign two executive orders
US President-Elect Joe Biden talks to reporters after delivering remarks, before the holiday, at The Queen in Wilmington, Delaware on December 22, 2020. Alex Edelman | AFP | Getty Images President Joe Biden’s allies in the business community have been meeting to craft a set of proposals, including a potential carbon tax, to help pay
Hermione Granger | Moment | Getty Images In the last few weeks, bitcoin has been on a wild ride, surging to record highs and then wiping hundreds of billions of dollars from the cryptocurrency market days later. The volatility shows why curious investors should pause before putting money into the cryptocurrency. Bitcoin had an epic
Traders on floor of the New York Stock Exchange. Source: New York Stock Exchange With the inauguration — and the risk of disruption — now over, what’s next for markets? The S&P 500 has risen 15% since the election to historic highs on a series of macroeconomic hopes that have driven sentiment, technical levels, and
John Nacion | NurPhoto | Getty Images Contracts tied to the major U.S. stock indexes opened around the flatline Thursday evening as Wall Street appeared headed to close out the record-setting week on a muted note. The after-hours moves came after a strong showing from the Nasdaq Composite earlier in the day during the regular
An ‘Open House’ sign is displayed as potential home buyers arrive at a property for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images Record-low mortgage rates may now be a headline of the past. Now, several weeks of rising rates are dousing what was incredibly high demand for refinancing. That pulled total
Johnson & Johnson board member Dr. Mark McClellan told CNBC that “if the clinical trial works out,” the company could significantly increase the nation’s Covid vaccine supply availability within the coming weeks. “I do know that J&J is making a very large supply, going all out with its production, both here in the U.S. and
U.S. President-elect Joe Biden speaks about his plan to administer coronavirus disease (COVID-19) vaccines to the U.S. population during a news conference at Biden’s transition headquarters in Wilmington, Delaware, January 15, 2021. Kevin Lamarque | Reuters President Joe Biden‘s first Covid-19 package is already facing hurdles in Congress that threaten to force the fledgling administration
Even as cases of coronavirus rise, restoring in-person education remains a top priority for the new administration. On his first full day in office, President Joe Biden released a plan to reopen schools, which includes ramping up testing, accelerating the pace of vaccinations and providing more funding for educational institutions. Under Biden’s plan, schools could tap disaster relief
Billionaire global investor Barry Sternlicht said Thursday he’s concerned about the long-term viability of current conditions in the stock market, warning that some aspects feel reminiscent of the dot-com bubble back in the 1990s. “I don’t think we’re having a problem in the stock market near term,” Sternlicht said on “Squawk Box.” “The stimulus is
People line up in their cars to receive food assistance in Groveland, Florida, near Orlando, on Dec. 9, 2020. Paul Hennessy/NurPhoto via Getty Images ‘Totally egregious’ U.S. Labor Department data issued Thursday provides the first glimpse of how delays from Congress and the president affected benefits. More than 1.7 million people dropped off Pandemic Unemployment
The coronavirus pandemic has changed not only how we live but where we live, and that has upended some of the usual trends in local housing markets. Now that some people can work from anywhere, they can also live anywhere, and they are moving to different markets for all kinds of reasons, from affordability to
Americans continued to hit the unemployment line in large numbers as the ongoing surge of Covid cases added to America’s unemployment problem last week. Jobless claims totaled 900,000 for the week ended Jan. 16, the Labor Department reported Thursday. That was slightly less than the Dow Jones estimate of 925,000 and below the previous week’s
Wide angle, ultra wide angle and new Lidar sensor on the iPad Pro. Todd Haselton | CNBC Last year, Apple started including advanced 3D sensors that can accurately measure how far away objects are in its high-end iPhones and iPad, and now millions are out in the world. The iPhone 12 Pro cameras use 3D
Doctor Richard Dang (R), Assistant professor USC School of Pharmacy, administers a Covid-19 vaccine to Ashley Van Dyke as mass-vaccination of healthcare workers takes place at Dodger Stadium on January 15, 2021 in Los Angeles, California. Irfan Khan | AFP | Getty Images As President Joe Biden makes quelling the Covid-19 crisis his first priority
Protestors call for McDonald’s Corporation to raise wages to a $15 minimum and allow unionization in Fort Lauderdale, Florida, on May 23, 2019. Joe Raedle / Getty Images With Joe Biden’s inauguration as President of the United States, the country is perhaps closer than ever to a $15 federal minimum wage. In a speech last
Famed investor Jeremy Grantham on Thursday reiterated his warning that Wall Street is in a bubble as individual traders get “carried away.” “They’re becoming euphoric … They’re borrowing money. They’re trading more shares,” Grantham, co-founder and chief investment strategist at Grantham, Mayo, & van Otterloo told CNBC’s “Squawk Box Asia” on Thursday. In recent months,
An investor looks at an electronic board showing stock information at a brokerage house in Nanjing, Jiangsu province, China. Reuters BEIJING — More Chinese investors are piling into the local stock market. In December, the mainland stock market recorded 1.62 million new investors — double the 809,300 reported a year ago, according to China Securities
SINGAPORE — Real estate investors in Asia-Pacific are most likely to put money into offices in 2021, with 31% of respondents choosing the sector over other market segments in a recent survey. That’s despite huge changes to workplaces following the coronavirus pandemic, such as work-from-home arrangements becoming the norm last year. More than half of
President Joe Biden signs executive orders in the Oval Office of the White House in Washington, after his inauguration as the 46th President of the United States, U.S., January 20, 2021. Tom Brenner | Reuters On his first full day in office, President Joe Biden released the details of his sweeping plan to combat the
Avril Haines speaks during her confirmation hearing before the Senate Intelligence Committee to be President-elect Joe Biden’s national intelligence director in Washington, DC, January 19, 2021. Joe Raedle | Pool | Reuters WASHINGTON –The Senate confirmed Avril Haines as the director of national intelligence Wednesday evening, the first official member of President Joe Biden’s Cabinet.
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