WASHINGTON — President Donald Trump refused to accept any responsibility for the slow rate of coronavirus testing in the United States, saying on Friday that he was “given a set of circumstances” that wasn’t meant for the high numbers of potential COVID-19 infections. “What we’ve done, and one of the reasons people are respecting what we’ve done, is […]
Tag: business news
Not every bear market is accompanied by an economic recession, but chances are high
The end to the record-long bull market is now a reality. However, entering a bear market doesn’t always mean a recession is upon us, history shows. This week, the S&P 500 and the Dow Jones Industrial Average entered bear markets, ending their historic 11-year bull runs.  A bear market marks a 20% decline from all-time highs. As a […]
Everbridge up 38% this year by helping clients manage coronavirus
David Meredith, CEO, Everbridge Scott Mlyn | CNBC With tech stocks plunging alongside the broader market, software-maker Everbridge has emerged a rare profitable bet for investors. Everbridge, whose technology helps companies manage public safety emergencies like the coronavirus reached an intraday record of $116.21 as the S&P 500 sank 4.9%. Over the past three-plus weeks, […]
The Fed details moves to buy Treasurys across all durations, starting with 30-year bond
The New York Federal Reserve will begin buying Treasurys across the yield spectrum as part of its efforts to help the financial system through the coronavirus scare. In an announcement Friday, the central bank said it was accelerating to Friday purchases it announced a day before. The move comes in response to market demand that […]
Google creating coronavirus site to help find testing
Sundar Pichai, CEO of Google, speaks during the company’s 2017 Cloud Next event in San Francisco. Bloomberg | Getty Images Google and its parent company Alphabet are working on a website for coronavirus testing, according the internal materials viewed by CNBC and an announcement by President Donald Trump on Friday. Trump said during a press conference […]
Trump gives people with student loans a break amid coronavirus
President Donald Trump said Friday that he would waive the interest on all federal student loans amid the coronavirus outbreak, meaning borrowers could pause their payments without any penalties. The measure is part of a larger strategy to mitigate the economic consequences of the pandemic which has so far infected more than 130,000 people and killed […]
The Masters is postponed, Buffett moves shareholder meeting online
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 135,000, according to data compiled by Johns Hopkins University. Global deaths: At least 4,977, according to data compiled by Johns […]
Trump will hold press conference
U.S. President Donald Trump talks to journalists while hosting Prime Minister of Ireland Leo Varadkar in the Oval Office at the White House March 12, 2020 in Washington, DC. Chip Somodevilla | Getty Images President Donald Trump said he will hold a press conference at 3 p.m. ET Friday to discuss the coronavirus pandemic. The […]
Trump pressures Congress to approve payroll tax cut for rest of year
WASHINGTON, DC – MARCH 11 : President Donald J. Trump meets with bank CEOs about Coronavirus COVID-19 response in the Cabinet Room at the White House on Wednesday, March 11, 2020 in Washington, DC. The Washington Post WASHINGTON — President Donald Trump pressed Congress on Friday to include a nine-month payroll tax holiday in the […]
Market turmoil sparked by coronavirus is worse than 2008: James Bianco
Market researcher James Bianco calls the Federal Reserve’s move to pump $1.5 trillion into the market the “nuclear option” to calm investors gripped by coronavirus fears. Only, it didn’t work Thursday. Instead, stocks saw their worst day since the 1987 Black Monday market crash. “Financial markets are not recovering. It’s incredible to think that a […]
