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Thursday, April 2, 2020
Many Americans should be encouraged that the government is likely to pay them $1,200 apiece amid the coronavirus economic downturn.There's one problem, however: The money may not stretch very far — because the rent is too darn high.Last week, Congress ushered in a $2 trillion stimulus bill...
Boston Federal Reserve President Eric Rosengren said Wednesday the central bank moved rapidly to address deterioration across multiple parts of the financial market that were crippled due to the coronavirus crisis."At the central bank we're focused on addressing, and blunting, the economic effects of the pandemic," Rosengren said...
U.S. stock futures rose in overnight trading and pointed to gains at the open on Thursday, as markets try to rebound after kicking off the second quarter in the red.Dow futures rose 218 points, indicating a 152-point gain at the open on Thursday. The S&P 500 and Nasdaq...
NEW YORK (Reuters) - U.S. pension funds that delayed rebalancing their portfolios are likely to pump about $400 billion into stocks over the next two quarters, analysts at JP Morgan said, providing a potential boost to equity markets battered by the coronavirus pandemic. Weeks of asset price...
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 932,000Global deaths: At least 46,000US cases: At least 213,300US deaths: At least 4,700The data...
The Federal Reserve, seeking to improve the functioning of a critical market for Treasury securities, announced Wednesday it was relaxing a rule that will free up capital for the biggest banks to lend. The rule change gives banks an incentive...
Baltimore City officials said they anticipate a $42.3 million budget deficit through June 30, the end of the fiscal year.|| Late-breaking coronavirus updates | Maryland's latest numbers ||City officials cited a sharp loss of revenue as a result of the shutdown of businesses ordered to stop the spread...
Pedestrians walk past a boarded up Lori's Diner in San Francisco, California, U.S., on Tuesday, March 24, 2020.David Paul Morris | Bloomberg | Getty ImagesWhen the coronavirus pandemic eventually subsides, the economic impact will be felt unevenly from one part of the country to another.The regions feeling the...
Whiting Petroleum filed for bankruptcy protection on Wednesday, the first U.S. shale producer to do so as crude prices fall while major oil producers engage in a price war.Analysts have warned that falling oil prices will lead to a wave of consolidation or bankruptcies in the U.S. energy sector"The oil...
BOSTON (Reuters) - Multi-strategy hedge funds - those that bet on a broad array of markets using teams of traders, leverage and centralized risk management - have flourished as stocks ended their worst three months since the 2008 financial crisis. FILE PHOTO: Richard Schimel speaks during the Milken...

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Global reported cases head toward 1 million

This is a live blog. Please check back for updates.Global cases: More than 932,600Global deaths: At least 46,809Top 5 countries: United States (213,372),...