A broad measure of layoffs likely continued to hover just below 1.5 million last week, economists say, highlighting a labor market recovery that has lost steam as many states pause or reverse reopenings amid COVID-19 spikes. Economists surveyed by Bloomberg...
Mortgage applications to purchase a home were 2% lower last week than the previous week but a strong 21% higher annually. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances remained unchanged at 3.20%. However, the...
As the economic fallout from the coronavirus pandemic continues, almost one-third of U.S. households, 32%, have not made their full housing payments for July yet, according to a survey by Apartment List, an online rental platform. About 19% of Americans...
A correction is defined as a 10% or more decline in the price of an asset or index. The IMF estimated earlier this week that the global economy would contract by 4.9% this year, before growing at a pace of...
In a company in the midst of coronavirus-caused bankruptcy, where stockholders are likely to be wiped out, there are weird signs of life—worthless stock ticking up, an equity offering. But betting on an undead company is a very bad idea....
Disney World and Disneyland may be shut down, but the unpredictable and sassy ride that PPP borrowers, banks and CPA’s are going through under this well-intentioned, but somewhat unorganized, program continues. Here are the curves and surprises baked into the...
Hertz, Whiting Petroleum, Chesapeake Energy shares surge Number of Robinhood users holding these stocks also swells Just in the last week, 96,000 people on the Robinhood investing app opened a position in Hertz Global Holdings Inc. The number of users...
Billionaire bond investor Jeffrey Gundlach, the CEO of $135 billion DoubleLine Capital, sees the potential for a "wave of more higher-end unemployment' hitting white-collar workers making more than $100,000 per year as employers increasingly question the value these employees bring....
Federal Reserve Chairman Jerome Powell has been out there again sounding the alarm about the potential for further damage to the economy from the coronavirus pandemic. In his newest remarks, he worried aloud about the possibility of a second round...
Consumer confidence edged higher in May after two months of steep declines as businesses shuttered by the coronavirus pandemic gradually reopened, but the measure still hovers near six-year lows. The closely watched index of Americans’ outlook rose to 86.6 from...
Sometimes financial engineering gets you more than you bargained for. From the customer’s perspective, car rental is a straightforward business. The only uncertainty is whether the hiring company will charge you for the scratch they discover when you hand back...
Federal regulators have changed rules and cleared up some confusion about limits placed on the over 4 million borrowers in the mortgage relief program the government rolled out to contend with the coronavirus’ economic onslaught. Lending rules that were in...
Prices are tumbling in America as the coronavirus lockdown drags on and people spend less. US consumer prices declined for the second-straight month in April, the Bureau of Labor Statistics reported on Tuesday. Prices fell by 0.8% on a seasonally...
Before the coronavirus pandemic spooked the stock markets, shook the economy and turned the financial lives of millions of people upside down, household debt in the US had already hit a record high. The New York Federal Reserve reported Tuesday...
For small business owners, the federal government’s Paycheck Protection Program has been a nightmare to navigate since the day it launched. These employers—who were supposed to be the program’s primary target—have faced rejected applications, system outages, and insufficient funding —...
