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...
Many people found they lacked a safe, reliable source of cash when investors became concerned about the coronavirus pandemic in March. Markets were falling. Businesses were closing. A credit crunch was spreading through the markets and the economy. The only...
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...
The Market Whipsaw As we keep saying, these are unprecedented times. Q1 was the worst first quarter we’ve participated in since the Great Financial Crisis in 2008, followed by the best Q2 since 1987. The S&P 500 and the Dow...
‘The investing challenge may well shift in the months ahead from riding an exceptional wave of liquidity, which lifted virtually all asset prices, to steering through a general correction in prices and complex individual nonpayments.’ That’s Mohamed El-Erian, Allianz’s chief...
Interviews reveal benefit ranges from perk to necessity Policy makers at odds about extending weekly unemployment aid In about two weeks millions of Americans could lose a crucial economic lifeline of this pandemic: $600 a week in extra federal unemployment...
July 15 is the new April 15 for those who still have not filed a tax return. The traditional April income tax deadline was extended this year for 2019 tax returns, due to the upheaval created by COVID-19. The one-time...
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...
Judith Ramirez is bracing for July. That’s when the hotel housekeeper and her electrician husband – who have both been out of work for three months – expect their combined unemployment benefits to drop by more than half, and their...
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...
The clock is ticking for small business owners who need financial help in order to survive the coronavirus crisis. Tuesday, June 30 is the application deadline for the Paycheck Protection Program, a CARES Act initiative that provides loans to businesses...
Workers can collect unemployment benefits even after refusing work or quitting a job, if it’s for “good cause.” The CARES Act expanded these opportunities for Americans in instances related to Covid-19 — for health, safety or child-care reasons, for example. Some...
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...
