Month: March 2020

NoDerog | E+ | Getty Images Those government stimulus checks should be on their way soon to millions of Americans. Many people have still have a lot of questions about them. Last week, Washington lawmakers approved a $2 trillion relief bill in response to the coronavirus outbreak that includes a payment of $1,200 for single taxpayers
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Don’t be surprised if your employer pauses its contributions to your 401(k) plan during the U.S. economic downturn. As the coronavirus pandemic wallops the economy, and businesses deal with dropping revenue and limited cash flow, employers are exploring how to trim their obligations to those plans without violating federal regulations. Companies commonly give to worker’s
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This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks.  Global cases: More than 800,000 Global deaths: At least 38,714 US cases: At least 164,610 US deaths: At least 3,170 The data above was compiled by
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Amid a global pandemic and sharp economic slowdown, college-bound high school seniors are giving their state schools a second look. Thanks to heightened financial concerns, students and families may be more likely to choose local and less-expensive public schools rather than private universities far from home, according to Robert Franek, editor in chief of The Princeton Review
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Investors who are seeking to capitalize on the stock market’s recent steep declines must be disciplined, Bank of America Vice Chairman Keith Banks said Tuesday.  “I think a lot of people are trying to get clever and time the market,” Banks said on “Squawk Box.” “The reality is, it’s time in the market, not timing the market.”
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Stock futures were flat in overnight trading on Monday, signalling a pause in the market’s rebound from its deep rout triggered by the coronavirus pandemic. Futures on the Dow Jones Industrial Average rose just 10 points. The S&P 500 futures were also little changed. The overnight action followed a strong session on Wall Street, with the
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The Virgin Orbit ventilator device. Virgin Orbit Richard Branson’s California-based rocket company Virgin Orbit partnered with medical researchers and developed a ventilator device that the company plans to mass produce and send to hospitals around the United States to fight coronavirus. “[It is] a very, very simple and robust design that we can get out to
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SEC Chairman Jay Clayton said Monday that the practice of short selling — effectively betting that a stock will drop — is needed to “facilitate ordinary market trading.” “We shouldn’t be banning short selling,” Clayton told CNBC’s “Squawk Box.” However, he said the Securities and Exchange Commission did replace the old uptick rule with a
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A pack of Hydroxychloroquine Sulfate medication is held up on March 26. John Phillips | Getty Images President Donald Trump said U.S. health officials should have a “good idea” whether an anti-malaria drug being tested as a treatment for COVID-19 is effective in fighting the coronavirus in “the next three days.” “Hydroxychloroquine is something that I
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Federal Reserve Chair Jerome Powell holds a news conference following the Federal Open Market Committee meeting in Washington, December 11, 2019. Joshua Roberts | Reuters The Mortgage Bankers Association in a dire letter to regulators Sunday warned that the U.S. housing market is “in danger of large-scale disruption,” due to efforts by the Federal Reserve
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Hank Paulson David Orrell | CNBC Former Treasury Secretary Hank Paulson warned that the U.S. faces a “very difficult road ahead” after President Trump signed a historic $2 trillion coronavirus relief bill.  Paulson, a key figure in helping the country avoid economic catastrophe during the 2008 financial crisis, drew on his experience from that tumultuous period
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College acceptance letters are already in the mail. Now high school seniors must decide their fate for September. Up until now, National College Decision Day, the deadline for high school seniors to choose which college they will attend, has always been May 1. This year, however, the global coronavirus pandemic and extreme economic uncertainty have pushed many
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