The Bronx Chamber of Commerce is worried the retail vacancy rate will skyrocket due to the shutdown caused by the pandemic.Spencer Kimball | USThe already dismal outlook for economic growth during the current period just got considerably worse.Gross domestic product, which tallies the sum of goods and services across the economy, is on track to…
A shopper wears a protective mask while browsing through the Island Cotton Company store as the state of Florida enters phase one of the plan to reopen the state on May 4, 2020 in Stuart, Florida.Joe Raedle | Getty ImagesA shocking 16.4% plunge in April retail sales signals an even bleaker outlook for some brick…
CNBC's Jim Cramer said Friday that the U.S. should not take on China as the world faces unprecedented economic calamity from the coronavirus pandemic."What are we crazy?" Cramer asked, saying "this is not time" to inflame trade tensions between Washington and Beijing. "We're not strong," he added, pointing to the record 16.4% plunge in U.S.…
Consumer spending tumbled a record 16.4% in April as the backbone of the U.S. economy retrenched amid the coronavirus pandemic, according to a government report Friday.Economists surveyed by Dow Jones expected the advanced retail sales number to fall 12.3% after March's reported 8.3% dive already had set a record for data going back to 1992.…
Take a look at some of the biggest movers in the premarket:Qualcomm (QCOM), Cisco (CSCO), Apple (AAPL), Boeing (BA) – Reports out of China suggest that retaliation against these and other U.S. companies could come if the U.S. goes ahead with plans announced this morning to block chip shipments to China's Huawei.JD.com (JD) – The…
The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, April 26, 2020.Jeena Moon | ReutersStocks swung wildly in Friday's volatile session amid trade worries and weak economic data. Investors digested a record drop in retail sales, while…
A woman wearing a wearing a facemask as a preventive measure against the COVID-19 coronavirus speaks on her smartphone outside a shopping mall past a Huawei shop (back) in Beijing on April 1, 2020. (Photo by NICOLAS ASFOURI / AFP) (Photo by NICOLAS ASFOURI/AFP via Getty Images)Nicolas Asfouri | AFP | Getty ImagesThe Trump administration…
An aerial view shows a cruise ship (L) and tanker vessel anchored near the ports of Long Beach and Los Angeles amid the coronavirus pandemic on April 28, 2020 off the coast of Long Beach, California.Mario Tama | Getty ImagesOil prices rose on Friday, posting their third week of gains, as data showed demand for…
An employee tends to marijuana plants at the Aurora Cannabis Inc. facility in Edmonton, Alberta, Canada, on Tuesday, March 6, 2018.Jason Franson | Bloomberg | Getty ImagesCheck out the companies making headlines after the bell.Applied Materials — Shares of the manufacturing company climbed 4% in extended trading after Applied Materials reported second-quarter financial results. The…
U.S. stock futures edged lower Friday morning following a sharp rally a day earlier as investors awaited a key reading on the retail sector.Dow Jones Industrial Average futures fell 69 points, or 0.3%. S&P 500 futures lost 0.3%. Nasdaq-100 futures fell 0.1%.Monthly retail sales data due out at 8:30 a.m. ET are expected to show…
Edward Kakembo makes a delivery for Instacart in Boston.David L. Ryan | The Boston Globe via Getty ImagesApril retail sales are expected to have fallen by a record amount as Americans cut back spending on many nonessentials during the virus-related shutdowns.Economists expect April sales plunged by 12.3%, compared to the previous record drop of 8.7%…
People pick up food the Food Bank at the New York City mobile food pantry on the Barclays Center plaza on April 24, 2020 in the Brooklyn, New York.Angela Weiss | AFP | Getty ImagesLower-income earners took an especially hard hit during the first wave of layoffs related to the coronavirus pandemic, according to a…
A worker wearing a protective face mask operates a forklift to move boxes of face shields ready for shipment at the Cartamundi-owned Hasbro manufacturing facility in East Longmeadow, Massachusetts, U.S., on Wednesday, April 29, 2020.Adam Glanzman | Bloomberg | Getty ImagesJobless claims were up by another 2.98 million last week, but within the bleak report,…
New filings for unemployment claims totaled just shy of 3 million for the most recent reporting period, a number that while still high declined for the sixth straight week, according to Labor Department figures Thursday.The total 2.981 million new claims for unemployment insurance filed last week brought the coronavirus crisis total to nearly 36.5 million,…
Take a look at some of the biggest movers in the premarket:Norwegian Cruise Line (NCLH) – Norwegian reported a first-quarter loss of 99 cents per share, wider than the 50 cents a share loss that analysts had projected. Revenue was in line with forecasts. The cruise line operator said it was well-positioned to withstand 18…
U.S. stocks added to steep week-to-date losses on Thursday after yet another gloomy jobless claims report from the Labor Department. Another 3 million Americans hoping for unemployment benefits added to investor worries about the uncertain path ahead for the global economy.This is a live blog. Here's what's going on:10:38 am: JPMorgan, other large banks outperformingShares of…