Chief Executives from at least seven energy companies are set to meet with President Donald Trump on Friday at the White House to discuss energy policy, according to sources familiar with the matter.The meeting comes as U.S. oil producers struggle to breakeven on the back of tumbling crude prices. U.S. West Texas Intermediate crude lost…
The U.S. continues to pump near record amounts of oil, but U.S gasoline demand continues to drop as the whole world sees less need for fuel.The latest weekly data from the Energy Information Administration showed the U.S. oil industry was still pumping 13 million barrels of crude oil per day, just under record production highs.At…
Scott Olson | Getty ImagesCheck out the companies making headlines in midday trading. Macy's — Stock of the classic American retailer fell on Wednesday to levels not seen since it reemerged from bankruptcy as a public company in 1992. Macy's equity, last seen trading down 2.5% around $4.81 a share, fell as low as $4.41 during…
Pedestrians walk past a boarded up Lori's Diner in San Francisco, California, U.S., on Tuesday, March 24, 2020.David Paul Morris | Bloomberg | Getty ImagesWhen the coronavirus pandemic eventually subsides, the economic impact will be felt unevenly from one part of the country to another.The regions feeling the biggest impact may also see the fastest…
Companies reduced payrolls by 27,000 in early March before the worst of the coronavirus-induced economic freeze, according to a report Wednesday from ADP and Moody's Analytics.Actual losses for the month were far worse as indicated by the millions of people who already have filed unemployment claims. Wednesday's report covers the period through March 12.In total,…
A man runs past the New York Stock Exchange (NYSE).BloombergThis is a live blog. Check back for updates.9:31 am: Stocks start the quarter lower, Dow down 850 pointsU.S. stocks started the second quarter in the red, with the Dow Jones Industrial Average falling more than 850 points at the opening bell on Wednesday. The S&P…
A Jeep Renegade rolls down an assembly line at Fiat Chrysler's Melfi assembly plant in Italy in 2015.Michael Wayland / CNBCCheck out the companies making headlines after the bell.Verint Systems — Shares of the analytics company tumbled 12% in extended trading after Verint Systems missed analysts' estimates on both earnings and revenue in the fourth quarter.…
U.S. stock futures dropped early Wednesday morning and pointed to sizable declines at the open, following the end of the worst first quarter on record for the Dow and S&P 500 spurred by the coronavirus sell-off.At around 6:50 a.m. ET, Dow Jones Industrial Average futures were down 656 points, indicating an opening loss of about 700…
Jeffrey Gundlach speaking at the 2019 SOHN Conference in New York on May 6th, 2019.Adam Jeffery | CNBCDoubleLine Capital CEO Jeffrey Gundlach believes the coronavirus sell-off is not over yet and the market will hit a more "enduring" bottom after taking out the March low."The low we hit in the middle of March… I would…
Check out the companies making headlines in midday trading. Dollar Tree — Shares of the discount retailer fell 8% after Dollar Tree withdrew its guidance for the year due to uncertainty around the fast-spreading coronavirus. Amarin — Shares of Amarin tanked 70.5% after the pharmaceutical company received an unfavorable ruling from a Nevada court in a patent case involving…
The market wrapped up a brutal quarter on Tuesday as investors searched for a bottom in the fastest bear market ever amid the coronavirus crisis. The Dow Jones Industrial Average and S&P 500 posted their worst first quarters in history as equities sold off further toward the end of the trading session. The Dow closed…
Stocks fell on Tuesday, the last day of the first quarter, as investors wrapped up a period of historic market volatility sparked by the coronavirus pandemic.The Dow Jones Industrial Average closed 410.32 points lower, or 1.8%, at 21,917.16. The S&P 500 dropped 1.6% to 2,584.59. The Nasdaq Composite fell nearly 1% to 7,700.10. The 30-stock benchmark was…
The coronavirus crisis has punished the blameless across the world this year. That includes investors who did the supposed "right thing," by keeping a balanced portfolio to fund long-term gains, just as the experts advise.As the stock-market cascaded to its recent lows this month, the traditional portfolio of 60% stocks and 40% bonds suffered a…
Patrick T. Fallon | Bloomberg | Getty ImagesCheck out the companies making headlines after the bell.GameStop — Shares of the video game retailer surged 14% in extended trading after the company said it had seen a positive impact on its business from the coronavirus. "The COVID-19 outbreak has led to changes in how consumers work, play…
A customer uses an Apple Inc. iPhone to make a payment on a Square Inc. device in San Francisco, California, U.S., on Tuesday, March 27, 2018.David Paul Morris | Bloomberg | Getty ImagesCheck out the companies making headlines after the bell.Nike — The athletic apparel company's stock soared 8% in extended trading after Nike posted third-quarter…
A worker on a an oil drill near New Town, North Dakota.Daniel Acker | Bloomberg | Getty ImagesOil prices moved higher on Sunday, snapping back from a week of steep declines that saw U.S. West Texas Intermediate crude post its worst week since 1991. Investors are waiting on Washington to agree to an economic stimulus and…