Yellow Dog Productions The economic fallout from the coronavirus is driving more Americans to seek unemployment benefits. However, the nation’s main financial backstop for laid-off workers is deficient — which could leave many Americans, especially gig workers, in a precarious situation, according to some experts. The $100 billion aid package President Trump signed into law on Wednesday,
Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer said Thursday that whatever happens on the other side of the coronavirus crisis CEOs should not benefit more than their employees. “I like anything that protects the works,” Cramer said on “Squawk on the Street.” “We can not have the fat cats make money at the
A person wears a face mask as a precaution against coronavirus in New York, on March 2, 2020. Tayfun Coskun | Anadolu Agency | Getty Images Walmart shares are emerging as a winner during the chaotic coronavirus crisis. The big box retailer, a classic defensive consumer staple stock, is benefiting from the millions of Americans
If you have cash parked in a money market fund that invests in non-U.S. Treasury debt, the Federal Reserve says it’s got your back. Late Wednesday, the Fed announced a new program that will make loans to financial institutions that buy shares in “prime” money market mutual funds, whose investments include corporate bonds. It’s the
U.S. President Donald Trump speaks as Vice President Mike Pence looks on during a news briefing on the latest development of the coronavirus outbreak in the U.S. at the James Brady Press Briefing Room at the White House March 18, 2020 in Washington, DC. Alex Wong | Getty Images The COVID-19 pandemic is a matter
A medical worker wearing a face mask talks on her mobile phone inside the new coronavirus intensive care unit of the Brescia Poliambulanza hospital, Lombardy, on March 17, 2020. PIERO CRUCIATTI Hospitals in Italy’s Lombardy, the epicenter of the country’s coronvirus outbreak, are reaching the point where they may not be able to treat any
A take-out order from a Darden Restaurants Inc. Olive Garden. Daniel Acker | Bloomberg | Getty Images Darden Restaurants on Thursday reported quarterly earnings and revenue that topped analysts’ expectations. The company also withdrew its fiscal 2020 outlook and suspended its quarterly dividend, citing the uncertainty it faces as states mandate the closure of dining rooms due the coronavirus
Investor Ray Dalio said the coronavirus outbreak will cost U.S. corporations up to $4 trillion. “What’s happening has not happened in our lifetime before … What we have is a crisis,” Dalio said on Thursday on CNBC’s “Squawk Box.“There will also be individuals who have very big losses… There’s a need for the government to
Copper prices have crashed in recent days amid growing panic over the impact of the coronavirus, and the metal’s reputation as a barometer for the global economy means analysts are looking to see if it has further to fall. On Thursday, copper prices hit their lowest level since January 2016, with three-month copper futures on
Even before the spread of COVID-19 brought the U.S. economy to a near standstill, Americans were taking on increasing amounts of debt. Now, around 67 million Americans said they will have trouble paying their credit card bills due to the outbreak and its aftermath, according to a new Coronavirus Money Survey by personal finance site WalletHub.