Traders work on the floor of the New York Stock Exchange. NYSE The pandemic turned 2020 into a year of unprecedented events — not the least of which was the swift crash and then record-fast recovery of the stock market. The market’s race higher has been in stark contrast to an economy that has been
Michael Nagle/Bloomberg via Getty Images Morgan Stanley will repay $1.7 million to customers who paid high costs on investments earmarked for education expenses like college tuition. The brokerage firm is paying the sum, including nearly $1.5 million in restitution plus interest, to about 2,300 customers who are saving money in 529 plans, the Financial Industry
Gov. Jared Polis and officials announced Denver and a number of other Colorado counties will be moved to Level Red on a newly revamped version of the state”u2019s color-coded COVID-19 dial at Boettcher Mansion in Denver, Colorado on Tuesday. November 17, 2020. Hyoung Chang | Denver Post | Getty Images WASHINGTON — Colorado health officials said
File photo showing stimulus checks printed at the Philadelphia Financial Center in Philadelphia, Pennsylvania. Jeff Fusco | Getty Images Efforts to boost the direct payments in the year-end coronavirus relief bill to $2,000 stalled Wednesday as Senate Republican leaders and Democrats appeared divided over whether to send more relief. The Democratic-held House has approved a
The $600 stimulus checks from the latest Covid relief bill are officially on their way to bank accounts, according to two tweets from Treasury Secretary Steven Mnuchin on Tuesday evening. The checks could arrive as early as tonight for those who have direct deposit, according to Mnuchin. Your stimulus check will come this way if
Wall Street forecaster Jim Bianco is bracing for a 2021 inflation comeback. His main catalysts: hundreds of billions of dollars in federal coronavirus aid and vaccines that begin normalizing the economy. “Once you get all of that into the pipeline, you could have a burst of economic activity that could produce higher inflation for the
People gather together to ask the McDonald’s corporation to raise workers wages to a $15 minimum wage as well as demanding the right to a union on May 23, 2019 in Fort Lauderdale, Florida. Joe Raedle | Getty Images The move toward a $15 minimum wage gained more ground in 2020 through the electoral victory
Treasury Secretary Steven Mnuchin answers questions during a House Financial Services Committee hearing on “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response” in the Rayburn House Office Building in Washington, December 2, 2020. Greg Nash | Pool | Reuters WASHINGTON — The Trump administration will begin sending stimulus payments to millions of Americans
Letizia Le Fur | ONOKY | Getty Images While the federal Covid relief bill addresses a key concern for small businesses with forgivable loans, these firms could still face a tax hit — this time on their state returns. In addition to pledging stimulus checks to American households and providing a $300 boost to unemployment
SINGAPORE — The increasing regulatory scrutiny of Alibaba-affiliate and financial technology powerhouse Ant Group could be bad for the Chinese economy as well as China’s financial technology sector, says Andrew Collier, managing director of Orient Capital Research. The highly-anticipated listing of Chinese tech giant Ant Group — which was set to be the world’s largest
A U.S. Congressman-elect from Louisiana who was 41 years old has died after a battle with Covid-19, his spokesman announced Tuesday night. Luke Letlow, a Republican, was elected as U.S. representative for Louisiana’s 5th Congressional District in a December runoff. Letlow spokesman Andrew Bautsch confirmed the congressman-elect’s death at Ochsner-LSU Health Shreveport on Letlow’s Facebook page.
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-elect Joe Biden on Tuesday criticized the Trump administration’s effort to distribute and administer Covid vaccine shots, saying that the administration has failed to meet
Ty Wright | Bloomberg | Getty Images For car buyers, the end of the year typically marks the best time to get a great deal. Things look a bit different this time around. While there are still discounts and special financing on certain makes and models, those incentives generally are not as generous as in
Check out the companies making headlines in midday trading. Ormat Technologies — Shares of the alternative energy company advanced more than 4% after Bank of America initiated coverage on the stock with a buy rating and $96 target, according to FactSet. The stock rose to an all-time high on the heels of the bullish call.
With only a few days to go, the United States will likely fall short of its goal to vaccinate 20 million Americans by the year’s end as the nation embarks on what will be a historic campaign to inoculate hundreds of millions of people against the coronavirus by the middle of next year. Two Covid-19
U.S. Senate Majority Leader Mitch McConnell (R-KY) talks with reporters following the weekly Republican Senate conference meeting in the Mansfield Room at the U.S. Capitol in Washington, December 1, 2020. Tom Williams | Reuters The Senate returns to Washington on Tuesday facing pressure to increase direct payments in the year-end coronavirus relief bill to $2,000.
Federal stimulus checks are prepared for printing at the Philadelphia Financial Center May 8. Jeff Fusco | Getty Images News | Getty Images Another round of stimulus payments is on the way for the millions of Americans financially struggling because of the public health crisis. President Donald Trump on Sunday night signed a $900 billion
With the major indexes trading around record highs, BTIG’s Julian Emanuel is drawing a parallel to another euphoric time: 2000 dot-com bubble top. According to Emanuel, the market rally’s intensity over the past six months mimics what Wall Street saw 20 years ago. “The participation is on a par with 2000, if not greater,” BTIG’s chief
An American Airlines Boeing 737 MAX airplane takes off on a test flight from Dallas-Fort Worth International Airport in Dallas, Texas, on December 2, 2020. Cooper Neill | AFP | Getty Images MIAMI — American Airlines on Tuesday is set to operate the first U.S. commercial flight of Boeing‘s 737 Max since two deadly crashes
Ghislaine Maxwell appears via video link during her arraignment hearing where she was denied bail for her role aiding Jeffrey Epstein to recruit and eventually abuse of minor girls, in Manhattan Federal Court, in New York, July 14, 2020 in this courtroom sketch. Jane Rosenberg | Reuters A federal judge on Monday for the second
Volunteers from Forgotten Harvest food bank at a mobile pantry distribution before Christmas in Warren, Michigan, on Dec. 21, 2020. Emily Elconin | Reuters President Donald Trump signed the $900 billion coronavirus relief bill on Sunday, solidifying another round of aid to Americans. Still, millions of families are staring down a gap in benefits that
Containers and trucks at the port of Qingdao, China on February 14, 2019. Reuters BEIJING — China has not fully recovered from the shock of the coronavirus pandemic, business leaders said in a survey by the China Beige Book released Tuesday. After about a year since Covid-19 first emerged in the Chinese city of Wuhan,
The number of shipments coming through the nation’s busiest container port complex in Los Angeles is up substantially from the first half of the year, reflecting a rebound in business and shift in consumer habits. Port of Los Angeles Executive Director Gene Seroka in an appearance Monday on CNBC said cargo volume is up 50%
U.S. President-elect Joe Biden delivers a speech after a conference video call focused on foreign policy at his transition headquarters in Wilmington, Delaware, December 28, 2020. Jonathan Ernst | Reuters President-elect Joe Biden said Monday his transition team has run into “roadblocks” and “obstruction” from Trump administration officials at key agencies, hindering the incoming Biden
A drive-in “Let’s Feed LA County” food distribution event hosted by the Los Angeles Food Bank on Dec. 4, 2020 in Hacienda Heights, California. FREDERIC J. BROWN | AFP | Getty Images However, states must wait to begin issuing the funds. The president’s signature starts a chain reaction that will likely end with workers getting
JPMorgan Chase has agreed to purchase the credit card rewards and travel operations of a former partner to bolster its loyalty program, CNBC has learned. The bank agreed Monday to acquire the technology platforms, travel agency, gift card and points businesses of cxLoyalty Group, a privately-held Stamford, Connecticut-based company, according to a person with direct
Rep. Louie Gohmert, R-Texas, outside the Capitol, December 3, 2020. Tom Williams | CQ-Roll Call, Inc. | Getty Images Rep. Louie Gohmert became the latest Republican to file a long-shot lawsuit attempting to reverse President-elect Joe Biden‘s victory — this time by suing Vice President Mike Pence. The last-ditch legal effort, filed Sunday, came from
Speaker of the House Nancy Pelosi, D-Calif., September 28, 2020. Tom Williams | CQ-Roll Call, Inc. | Getty Images The House will vote Monday on increasing the second round of federal direct payments to $2,000 as Democrats embrace President Donald Trump‘s calls to put more money in Americans’ pockets. The measure would boost the stimulus
U.S. bond prices fell on Monday morning after President Donald Trump signed a $900 billion Covid-19 relief bill into law. The yield, which has an inverse relationship to the price, on the 10-year Treasury note rose to 0.9514%. While on the 30-year Treasury bond it rose to 1.6918%. Trump averted a government shutdown late Sunday,
The chart shows U.S. restaurants’ weekly Source: UBS Evidence Lab U.S. restaurant revenue is falling as takeout and delivery orders fail to make up for lost dine-in sales. UBS Evidence Lab found that dine-in restaurant sales plunged 69% in the week ended Nov. 29. In that same week, takeout and delivery sales soared 59%. But
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