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
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A wave of U.S. companies said this week that they’ll require customers to wear masks or face coverings in their stores. That includes some of the biggest names in retail: Walmart, Kroger, Target, Best Buy, CVS Health, Home Depot and Lowe’s. Now those companies and their employees will face another challenge: Getting customers to comply. Walmart, the
A man walks past the Wall Street Charging Bull in New York, the United States, March 24, 2020. Wang Ying | Xinhua News Agency | Getty Images Several banks reported surprisingly strong second-quarter results during the opening week of earnings season, but the smaller national and regional banks had to rely on different business lines
Pedestrians walk past Leavitt & Peirce in Harvard Square in Cambridge, MA on June 30, 2020. Lane Turner | The Boston Globe via Getty Images The city of Clemson, South Carolina, grows nearly four times its size from 8,000 to around 40,000 when Clemson University students return every fall. On football game days, the number
The skyline of the Lujiazui financial district in Shanghai, China. Hector Retamal | AFP | Getty Images Chinese banks have so far emerged relatively unscathed as the coronavirus pandemic hit economies around the world — but that could change in the coming months. Rising bad loans are set to squeeze margins and reduce profits, said analysts. China’s
A button for launching the Netflix application is seen on a remote control in this photo illustration in Warsaw, Poland on April 25, 2019. Jaap Arriens | NurPhoto | Getty Images While streamers have benefited from the influx of consumers stuck at home, platforms like Netflix are not immune to the woes of film and
A vehicle is seen in a caravan protest asking the state of Florida to fix its unemployment system on May 22, 2020 in Miami Beach, Florida. Joe Raedle/Getty Images Florida’s unemployment office is cutting nearly 1,000 workers from its call center — around a quarter of its representatives — at a time when the state’s jobless claims
An airline employee walks past empty American Airlines check-in terminals at Ronald Reagan Washington National Airport in Arlington, Virginia, on May 12, 2020. ANDREW CABALLERO-REYNOLDS American Airlines on Wednesday warned about 25,000 front-line employees — close to 20% its workforce — about potential furloughs, the latest carrier to prepare staff for job cuts as surges in coronavirus
One of the ultimate stay-at-home plays is getting ready to report second-quarter earnings after Thursday’s market close: Netflix. According to longtime tech analyst Gene Munster, it may signal a reality check for some investors. “It can meet some high expectations, but ultimately, I think shares are going to get top heavy here in the next
Tiffany Lowe speaking in favor of the Raise the Wage Act, on Capitol Hill in January 2019. Source: Fight for $15 and a Union Fast-food cashier Tiffany Lowe says a higher wage would allow her to save up for a home of her own. It would also give her greater peace of mind. The 34-year-old single
People wearing face masks move packs of vegetables at a wholesale market for agricultural products, as the country is hit by an outbreak of the novel coronavirus, in Beijing, China February 19, 2020. Tingshu Wang | Reuters Elevated food prices are just one of many new challenges China needs to face in the wake of
Due to social distancing, shoppers wear protective masks as they wait in line outside Gucci as South Coast Plaza reopens, requiring customers maintain a social distance and wear face masks at South Coast Plaza Thursday, June 11, 2020 in Costa Mesa, CA. Allen J. Schaben | Los Angeles Times via Getty Images The United States
Jamie Dimon, CEO of JP Morgan Chase, speaking at the 2019 WEF in Davos, Switzerland on Jan. 23rd, 2019. Adam Galica | CNBC JPMorgan Chase managed to throw off the most quarterly revenue in its history at the same time that the U.S. economy was in the throes of a sharp recession. The bank posted
The 2021 Bronco four-door Badlands series with available Sasquatch off-road package in cactus Gray. Ford Ford Motor is taking a run at the nation’s No. 1 off-road seller, the Jeep Wrangler, with its highly anticipated relaunch Monday night of the Bronco SUV — a boxy utility vehicle that developed a cult following after it was discontinued in
Earnings season may kick-off with an upside surprise. National Securities’ Art Hogan is optimistic the banks’ second quarter results will come in better than expected and help lift stocks. “I don’t think expectations for bank earnings have ever been as low as they are coming into this quarter,” the firm’s chief market strategist told CNBC’s
New York Gov. Andrew Cuomo on Monday outlined the criteria to reopen school districts closed this fall, stressing that he wants to keep kids safe: “We’re not going to use our children as guinea pigs.” School reopenings will be dictated by the state’s regional reopening plan, Cuomo said. Schools in regions that are in phase
A pedestrian passes in front of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, June 3, 2020. Michael Nagle | Bloomberg | Getty Images Stock futures rose in overnight trading on Sunday as investors looked past a record spike in coronavirus cases in Florida. Futures on the Dow Jones Industrial Average
President Donald Trump criticized his top infectious disease advisor this week while Dr. Anthony Fauci separately admitted he hasn’t briefed the president on the coronavirus pandemic in at least two months — widening an apparent growing rift between the two. “Dr. Fauci’s a nice man, but he’s made a lot of mistakes,” Trump said in an