Please, let’s stop all the tax cut talk. The Trump Administration has become quite single-minded when it comes to policies that could help the economy rebound from the coronavirus-induced coma that has gripped the country since March. My good friend and former colleague, Larry Kudlow, who sits atop the National Economic Council, has proposed cutting
Finance
U.S. stock futures ticked lower in overnight trading and pointed to modest losses at the open Wednesday, following a weak session that snapped a three-day winning streak for markets. Fueling the volatility is uncertainty around a possible coronavirus treatment and vaccine and how economies will fare in reopening, from a health perspective. Dow futures fell
Pedestrians pass in front of an Urban Outfitters store in New York. Scott Mlyn | CNBC Check out the companies making headlines after the bell. Urban Outfitters — The clothing retailer’s stock tumbled 5% in extended trading after the company released its first-quarter financial results. Urban Outfitters reported a loss of $1.41 per share on
A shopper prepares to pay for items at a Kohl’s department store in Peru, Illinois, May 16, 2019. Daniel Acker | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Moderna — Shares of the biotech company fell by more than 5% on Tuesday after Moderna announced a secondary stock offering that would
It may be premature to turn bullish. Despite Monday’s massive rally, Canaccord Genuity’s Tony Dwyer finds stocks haven’t broken out of the ‘”frustration” stage of the recovery. He breaks down the post-market crash environment into three phases: Panic, relief and frustration. “Once you crash, you go into a panic phase,” the firm’s chief market strategist
A security personnel stands guard at the opening session of Baidu’s annual AI developers conference Baidu Create 2019 in Beijing, China, July 3, 2019. Jason Lee | Reuters Check out the companies making headlines after the bell. Moderna — The biotech company’s stock fell 2% in extended trading after Moderna announced that it is proposing a
The PayPal application on an Apple iPhone. Andrew Harrer | Bloomberg | Getty Images PayPal is attracting a new demographic during stay-at-home shutdowns: what it calls “silver tech.” The company has seen an older audience flock to digital payments as cash is seen as a germ risk and people across the U.S. stay at home
Stocks may be coming off their worst week in about two months, but Bryn Mawr Trust’s Jeffrey Mills warns there are few bargains. He believes Wall Street isn’t accurately pricing in pain of the economic shutdowns. “We don’t love the risk-reward right now in the stock market,” the firm’s chief investment officer told CNBCs “Trading
Public companies that took advantage of the government’s small business loan program are likely to avoid repercussions from the agencies running the effort, according to legal experts. Businesses have until May 18 to return funds taken from the Paycheck Protection Program with amnesty, but most of the public companies that got PPP loans are keeping
U.S. government debt yields moved lower Friday as investors awaited a host of fresh economic data. At around 4:45 a.m. ET, the yield on the benchmark 10-year Treasury note was lower at 0.6153% while the yield on the 30-year Treasury bond declined to 1.2802%. Yields move inversely to prices. Nervous investors are keeping a close