U.S. Secretary of Labor Eugene Scalia. Oliver Contreras/SIPA/Bloomberg via Getty Images Savers using 401(k) plans may soon be able to invest their retirement money in private equity, long considered strictly the province of the well-to-do. The U.S. Labor Department issued guidance Wednesday stipulating that business owners with 401(k) plans can more safely offer certain funds
Finance
Take a look at some of the biggest movers in the premarket: J.M. Smucker (SJM) – The food producer reported quarterly earnings of $2.57 per share, beating the consensus estimate of $2.29 a share. Revenue also beat forecasts, driven by increased consumer demand resulting from the Covid-19 pandemic. Smucker did forecast a 1% to 2%
The last two recessions may help determine what’s next for the recent market rally. Economic Cycle Research Institute co-founder Lakshman Achuthan has narrowed the possible recovery paths into two scenarios: The dot.com bubble collapse and financial crisis aftermath. Achuthan builds his case in a special S&P 500 chart showing performance during the 2009 to 2010 and
Image of workplace with computer monitor and armchair in the living room at home AnnaStills Amid the coronavirus pandemic, millions of employees have been shut out of their offices and required to work from home. The massive change has many companies evaluating what they can do to make the transition smoother for their workers. One
Take a look at some of the biggest movers in the premarket: Campbell Soup (CPB) – The food producer reported quarterly earnings of 84 cents per share, 9 cents a share above estimates. Revenue also beat forecasts and Campbell raised its full-year guidance, noting an increase in demand across all its brands amid the Covid-19
A worker examines a sewage recycling pool in the coal liquefaction factory of CHN Energy in Ordos, north China’s Inner Mongolia Autonomous Region, April 11, 2019. Xinhua | via Getty Images BEIJING — China has a lot more to worry about at home than its foreign policy. Some energy-related companies in the country have found themselves caught
David Paul Morris | Bloomberg | Getty Images Wells Fargo is tapping the brakes on its auto loan business, CNBC has learned exclusively. The bank, one of the biggest lenders for new and used car purchases in the U.S., sent letters to hundreds of independent auto dealerships last month telling them that the San Francisco-based
The normally busy boardwalk at Coney Island in Brooklyn, New York, was still largely shuttered on May 24. Andrew Lichtenstein/Corbis via Getty Images The $600 enhancement to weekly unemployment checks is ending at the end of July. While Democrats want to extend the extra pay into next year, Republicans appear resolute in blocking an extension.
BTIG’s Julian Emanuel has warning for investors: Brace for a 15% to 20% pullback. Emanuel, who came into 2020 as one of Wall Street’s biggest bulls, sees a stock market out of alignment with the economy as risks rise. “It’s probably time for the market to reassess the uncertainties to the economy,” the firm’s chief
A logo for Pfizer is displayed on a monitor on the floor at the New York Stock Exchange, July 29, 2019. Brendan McDermid | Reuters Check out the companies making headlines midday Monday: Pfizer — Pfizer dropped more than 8% after the pharmaceutical giant reported disappointing results from its breast-cancer drug trial. The trial is