Business

PNC Financial’s Amanda Agati warns a winning Main Street trade may burn investors. According to the firm’s chief investment strategist, fundamentals don’t support small cap value’s recent strong run. “If you just look at things from a forward P/E [price to earnings] perspective, small cap value is at an all-time high, if you can believe

United Auto Workers members leave the Fiat Chrysler Automobiles Warren Truck Plant after the first work shift, Monday, May 18, 2020, in Warren, Mich. Paul Sancya | AP Ford Motor and Fiat Chrysler are hiring temp workers and General Motors is restructuring shifts at an assembly plant in Missouri as the auto industry battles to keep factories running

Treasury Secretary Steven Mnuchin said Thursday that any ongoing government assistance to combat the economic slowdown from the coronavirus pandemic will not be a bailout for states. “On the state issue, the president is not going to bail out Chicago and New York and other states that prior to the coronavirus were mismanaged,” he said

An empty parking lot is shown at a closed JC Penney store in Roseville, Mich., May 8, 2020. Paul Sancya | AP Ross Allen-McCabe worked for six years at J.C. Penney. Now, he’s out of a job after the department store filed for bankruptcy and has so far let go hundreds at its headquarters in Plano,

David Solomon, chief executive officer of Goldman Sachs & Co. Simon Dawson | Bloomberg | Getty Images Goldman Sachs CEO David Solomon said Wednesday that the U.S. economy will be hampered by high unemployment and a plodding recovery because of the coronavirus pandemic. “The economic reality is that we are still facing a very, very

A United Airlines Boeing 777-200 aircraft Nicolas Economou | NurPhoto | Getty Images United Airlines posted a $1.63 billion net loss for the second quarter, driven by a plunge in air travel demand because of the coronavirus pandemic, the carrier said Tuesday. Revenue fell more than 87% from a year earlier to $1.48 billion from a

Shareholders watch the stock market in a securities business hall. Nanjing, Jiangsu Province, China, 6 July 2020. Costfoto | Barcroft Media | Getty Images China’s recent stock market rally is raising fears that it’s being driven by retail investors indulging in leverage-fueled risky trading which caused a spectacular crash back in 2015. Analysts say they

Dr. Sonia Macieiewski (R) and Dr. Nita Patel, Director of Antibody discovery and Vaccine development, look at a sample of a respiratory virus at Novavax labs in Rockville, Maryland on March 20, 2020, one of the labs developing a vaccine for the coronavirus, COVID-19. Andrew Caballero-Reynolds | AFP | Getty Images Drug company executives insisted

Take a look at some of the biggest movers in the premarket: Coca-Cola (KO) – Coca-Cola reported quarterly earnings of 42 cents per share, 2 cents a share above estimates. Revenue was in line with expectations. It was the 23rd time in 25 quarters that the company beat Wall Street forecasts, but a year-over-year revenue

The World Health Organization on Monday applauded newly published data by researchers at Oxford University and AstraZeneca on a potential coronavirus vaccine but cautioned that it’s still early and further evidence of its effectiveness is needed.  “It is good news,” Dr. Mike Ryan, executive director of the WHO’s emergencies program, said at a press conference at the organization’s

Many states’ pandemic-era moratoriums on renter evictions have expired. In some 30 states, eviction proceedings now can continue. Pictured, rent-forgiveness graffiti in Los Angeles. VALERIE MACON Most of the relief measures included in the historic stimulus package Congress passed in March are coming to an end, even as the financial suffering of millions of Americans,

British pharmaceutical company Synairgen has claimed that its new respiratory coronavirus treatment has reduced the number of hospitalized Covid-19 patients needing intensive care in a clinical trial. The company said its nebulizer treatment produced a 79% lower risk of patients developing severe disease than those given a placebo in initial trials, and patients that received

The economic aftermath of the coronavirus pandemic is likely to worsen when authorities start rolling back relief measures — and banks could experience “far more damage” to their balance sheets, said Piyush Gupta, group chief executive of Singaporean bank DBS. Speaking to CNBC’s “Managing Asia” anchor Christine Tan, Gupta said government stimulus in many countries is

Aventura Mall atrium. Jeffrey Greenberg | Universal Images Group via Getty Images Dozens of retailers, some of them the lifeblood of America’s shopping malls, have been pushed to the brink and filed for bankruptcy during the coronavirus pandemic.  Apparel brands like J.Crew, Brooks Brothers and New York & Co. parent company RTW Retailwinds. Department store chains Neiman

Robert Miller, a Pittsburgh area restaurateur, has watched with sadness as some of his favorite local eateries closed for good in recent weeks. Union Standard, Pizza Taglio, Spoon — just a handful of the businesses lost in the age of the coronavirus pandemic. “They’re all places people would know by name,” Miller said. Miller, 45, expects

People play in the spray from the fire hydrant. At the 3rd and Spruce Recreation Center in Reading Wednesday afternoon June 24, 2020 for the first Wacky Water Wednesday. Ben Hasty | Reading Eagle | Getty Images An intensifying heat dome is bringing sweltering heat to the U.S. this summer, with nearly 90% of the

Attempting to forecast the path of the American economy right now is like peering into a dark well — nobody knows how deep the hole goes. Even Jamie Dimon, CEO of JPMorgan Chase and veteran prognosticator of all things financial, is flummoxed. As head of the financial system’s bellwether, a bank with $3.2 trillion in