Joe Biden will win the Michigan primary, NBC News projected Tuesday, in a crushing blow to his last serious Democratic presidential rival, Bernie Sanders. The former vice president continued a run of early success Tuesday as he tried to put distance between himself and the Vermont senator in his push for his party’s nomination. He […]
Tag: business news
Dow plunges 850 points as Wall Street’s wild trading streak continues
Stocks plummeted on Wednesday in another volatile session as Wall Street worried about a possible fiscal stimulus package aimed at curbing slower economic growth due to the coronavirus outbreak. The Dow Jones Industrial Average traded 850 points lower, or more than 3%. The S&P 500 slid 3% while the Nasdaq Composite dropped 2.7%. Those losses […]
edged higher as food costs rose
A customer browses products at a Walmart store in Burbank, California Patrick T. Fallon | Bloomberg | Getty Images U.S. consumer prices increased slightly last month, driven higher by more expensive food. The Labor Department said Wednesday that the consumer price index ticked up 0.1% last month, matching its January increase. Prices rose 2.3% compared […]
Google tells all North American employees to stay home
Sundar Pichai, chief executive officer of Google Inc., speaks during the Google I/O Developers Conference in Mountain View, California, U.S., on Tuesday, May 8, 2018. David Paul Morris | Bloomberg | Getty Images Google is telling all of its North American employees to stay home until at least April 10, as the COVID-19 coronavirus spreads. […]
Trump wants big tax cut, NYC case count can’t keep up
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 118,101, according to data compiled by Johns Hopkins University. Global deaths: At least 4,262, according to data compiled by […]
Stitch Fix shares are tanking, biz could be near ‘saturation point’
Katrina Lake, founder and chief executive officer of Stitch Fix Inc. Patrick T. Fallon | Bloomberg | Getty Images Stitch Fix shares are cratering as Wall Street questions the longevity of a business that ships customers clothes on a fixed basis, using data science to curate outfits they might like. Its stock was last down […]
Trump floats payroll tax cut, other financial relief amid coronavirus outbreak
President Donald Trump on Monday said he will be meeting with Senate and House Republicans on Tuesday to discuss “a possible tax relief measure” that would provide “a timely and effective response to the coronavirus.” “We are to be meeting with House Republicans, Mitch McConnell, and discussing a possible payroll tax cut or relief, substantial […]
Dow jumps more than 600 points after Wall Street’s biggest rout since 2008
Stocks rallied on Tuesday as Wall Street clawed back some of the massive losses suffered in the previous session. Bets on government intervention to stem the economic downturn from the coronavirus lifted equities. The Dow Jones Industrial Average traded 600 points higher, or 2.6%. The S&P 500 climbed 2.4% while the Nasdaq Composite advanced 2.6%. […]
Economy is ‘like a coiled spring’ and sharp rebound is possible
Investors should avoid getting too bearish after Monday’s global market rout, according to Patrick Armstrong, chief investment officer of Plurimi Investment Managers. Markets in Europe and the U.S. suffered their worst day since the financial crisis on Monday as a combination of the global spread of the new coronavirus and plunging oil prices sent investors […]
Apple China stores all open apart from four
Apple staff and customers, wearing facemasks to protect against the COVID-19 coronavirus, are seen on the shop premises in Beijing on February 22, 2020. Nicolas Asfouri | AFP | Getty Images All of Apple’s retail stores in mainland China apart from four are now open after the coronavirus outbreak forced the iPhone maker to close […]
