Federal Reserve Vice Chairman Richard Clarida said he expects the economy to continue to recover through the year and likely return to its pre-pandemic level by the end of the 2021. In an interview with Steve Liesman on CNBC’s “Squawk Box,” the central bank’s director of bank supervision said he hasn’t changed his forecast despite
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A sign marks the headquarters of Moderna Therapeutics, which is developing a vaccine against the coronavirus disease (COVID-19), in Cambridge, Massachusetts, May 18, 2020. Brian Snyder | Reuters Moderna reported Wednesday a fivefold increase in second-quarter revenue related to its work on a potential coronavirus vaccine. Revenue jumped to $66.4 million during the quarter, more
A Johnson & Johnson building is shown in Irvine, California. Mike Blake | Reuters Johnson & Johnson announced Wednesday that it will develop and deliver 100 million doses of its coronavirus vaccine for the U.S. in a deal totaling more than $1 billion. The deal gives the U.S. the option to order an additional 200 million
Jovita Carranza, administrator of the U.S. Small Business Administration, speaks as Steven Mnuchin, U.S. Treasury secretary, listens at a House Small Business Committee hearing in Washington, D.C. Erin Scott | Getty Images The federal government is about to turn off the tap on its supply of forgivable loans for small businesses. Saturday, Aug. 8 is
CNBC’s “College Voices 2020” is a series written by CNBC summer interns from universities across the country about coming of age, launching new careers and job hunting during a global pandemic. They’re finding their voices during a time of great social change and hope for a better future. What money issues are they facing? How
As the nation’s lawmakers debate the contents of the next pandemic stimulus bill, a group of high powered business leaders at some of the most successful companies in the country are calling on Congress to support America’s small businesses. “This is not a call for bottomless handouts,” the letter, released Monday, says. ”It’s a defining moment
Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018. Anushree Fadnavis | Reuters Shares of Square soared on Tuesday evening after posting better-than-expected quarterly results and strong growth in its consumer payments app. The San Francisco-based company reported $1.92 billion
Bob Chapek, chairman of Walt Disney Parks and Experiences, stands for a photograph at an unveiling event of Star Wars: Galaxy’s Edge at Walt Disney Co.’s Disneyland theme park in Anaheim, California, U.S., on Wednesday, May 29, 2019. Patrick T. Fallon | Bloomberg | Getty Images Disney is set to report earnings for its third
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 Novavax’s potential vaccine to
For some Medicare beneficiaries, the pandemic means worrying about more than just their increased health risk from Covid-19. It also raises the specter of large, unexpected medical expenses. Medicare, the government health insurance program that you generally qualify for at age 65, comes with costs that can surprise beneficiaries. And as the pandemic continues rumbling
When I tell people I plan to die with zero, with no money left to give, their reaction is often, “What about the kids?” But I don’t think those two goals, of supporting my children and leaving nothing behind, are mutually exclusive. I want to give money to my children when they can best use
Residents of Imperial County, California, line up in front of a bookkeeping shop in Calexico to fill out unemployment claim forms on July 24. Mario Tama | Getty Images News | Getty Images Millions of Americans are getting a big cut in their unemployment checks after the expiration of a policy that offered an extra $600
Clorox posted its strongest sales growth the company has seen “in modern history” after closing out its fiscal year in the middle of the coronavirus pandemic, CEO Benno Dorer told CNBC Monday. The consumer goods company, whose brand name is virtually synonymous with bleach, saw organic sales growth of 24% in the fourth quarter and
Ford Motor CEO and President Jim Hackett will unexpectedly retire in the midst of an $11 billion restructuring plan that has failed to impress Wall Street and investors. Hackett, 65, will be succeeded by his heir apparent, Jim Farley, Ford’s chief operating officer, effective Oct 1. Farley, 58, will work with Hackett on a “smooth
Charlie Hall invented the waterbed in the late 60s, at San Francisco State University. After their heyday, waterbeds developed a stigma and sales declined. Hall’s new company, Hall Flotation, aims to bring them back — and it puts an emphasis on comfort. Following is a transcript of the video: Announcer: Wouldn’t you rather spend your
Joshua Roberts | Reuters Capitol Hill lawmakers seem to agree on one thing: Sending a second round of stimulus checks to help Americans weather the economic storm brought on by the Covid-19 pandemic is is worthwhile. But the conditions around who gets those checks could still be subject to change, particularly when it comes to
With a pending eviction crisis on the table, due to the economic impact of the coronavirus pandemic, both renters and landlords are on edge. But there may be a silver lining for some tenants who have their leases up for renewal. “Depending on your financial situation, a good time to start renegotiating a lease would
Traders work during the closing bell at the New York Stock Exchange (NYSE) on March 18, 2020. Johannes Eisele | AFP via Getty Images U.S. stock futures traded along the flatline on Monday night after the major averages logged in sharp gains to start the new month earlier in the day. Dow Jones Industrial Average
President Donald Trump insisted Monday that shutting down the United States in an attempt to curb the coronavirus would cause more harm than good, doubling down on previous comments that he would not call for a nationwide lockdown. “It’s important for all Americans to recognize that a permanent lockdown is not a viable path forward producing
Getty Images If you’re like many Americans, the Covid-19 pandemic has prompted a financial reality check: You haven’t saved enough. A recent Bankrate survey found that 55% of Americans have regrets over their emergency savings, or lack thereof. Experts agree that having an emergency fund can help you whether you face a job loss or
A student leaves the Thurgood Marshal Elementary school after all Seattle Public Schools were abruptly closed due to coronavirus fears on March 11, 2020 in Seattle, Washington. Schools will be closed for a minimum of two weeks. The system is the largest public school district in Washington State. John Moore/Getty Images Distance learning got off
Virgin Galactic Space tourism venture Virgin Galactic announced it signed an agreement with Rolls-Royce to develop an aircraft for supersonic travel, giving a first look on Monday of the coming vehicle’s design. Supersonic travel is a long-term bet for Virgin Galactic, which has been developing reusable spacecraft capable of sending people on short trips to the
Hermione Granger | Moment | Getty Images The historic bull market that ran for nearly 11 years came to an abrupt end in February, and we’re officially in a recession. That leaves you with two investing worries: Where you should invest now and whether you should pull money out of the stock market in order
The Lordstown Motors Corp. Endurance electric pickup truck is displayed during an unveiling event in Lordstown, Ohio, U.S., on Thursday, June 25, 2020. Matthew Hatcher | Bloomberg | Getty Images Shares of DiamondPeak Holdings, a special purpose acquisition company, jumped more than 20% during premarket trading on Monday after the company announced that it will
Adam Jeffery | CNBC Clorox beat market estimates for quarterly net sales on Monday, as U.S. households spent more on disinfectant and other cleaning products due to the Covid-19 pandemic. The company, which makes bleach and a wide range of household cleaning sprays and disinfectants, also said President Linda Rendle would be its chief executive officer
A man checks a mainboard at an assembly line to produce ventilators amid the spread of the coronavirus disease (COVID-19) at Vsmart factorty of Vingroup outside Hanoi, Vietnam August 3, 2020. Kham | Reuters The World Health Organization said Monday there may never be a magical cure for the coronavirus even as scientists and drugmakers
U.S. President Donald Trump delivers a speech during a tour of the Double Eagle Energy Oil Rig in Midland, Texas, July 29, 2020. Carlos Barria | Reuters Both parties are now working to come to a consensus on issues where they are divided, particularly unemployment insurance. The extra $600 per week in federal unemployment benefits
Throughout the Covid-19 crisis, White House coronavirus advisor Dr. Anthony Fauci has become a household name and the unofficial face of fighting the pandemic. And now he has his own trading card. The president of the National Institute of Allergy and Infectious Diseases threw the first ceremonial pitch for Major League Baseball’s 2020 season on
Chinese President Xi Jinping (R) waves to the press as he walks with US President Donald Trump at the Mar-a-Lago estate in West Palm Beach, Florida, April 7, 2017. Jim Watson | AFP | Getty Images Both the U.S. and China have to “step up to the plate” and provide global leadership at a time
Amazon reported blowout second-quarter results on Thursday, including a huge beat on the top line and double-digit revenue growth year-over-year, helped by surging sales amid the coronavirus pandemic. The stock climbed about 5.3% after hours. Here’s how the company did: Earnings: $10.30 per share vs. $1.46 expected, according to analysts surveyed by Refinitiv Revenue: $88.91 billion vs. $81.56