Month: July 2020

In the $1 trillion stimulus proposal released by Senate Republicans on Monday — the Health, Economic Assistance, Liability Protection and Schools, or HEALS, Act — the $600 per week unemployment boost of the CARES Act, which expires Friday, would decrease to $200 per week. That’s because Republican leaders have largely said the extra $600 a week discourages people from returning to
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Caterpillar Inc. excavators are displayed for sale at the Whayne Supply Co. dealership in Louisville, Kentucky, U.S., on Monday, Jan. 27, 2020. Luke Sharrett | Bloomberg | Getty Images Industrial machinery manufacturer Caterpillar said Friday that cost reduction and prioritized spending helped it offset a $1.4 billion decline in dealer inventories during the second quarter and
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A coronavirus relief agreement in Congress remained in doubt early Friday, just as extended unemployment benefits are set to end and new economic data showed a U.S. economy buckling under the pandemic’s weight. The Commerce Department said gross domestic product from April to June plunged 32.9% on an annualized basis, the biggest quarterly plunge in activity
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CNBC’s Jim Cramer said President Donald Trump’s Thursday morning tweet that suggested delaying the November election could cause problems for equity investors.  “It sows chaos, and chaos is bad for the stock market,” Cramer said on “Squawk on the Street.”  Dow futures extended their fall slightly in the wake of Trump’s tweet. They then made
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During its third quarter earnings results on Thursday Apple said that the company’s shareholders approved a four-for-one stock split. Stock splits are cosmetic, meaning they do not change anything about a company’s underlying fundamentals. They can lead to renewed interest from smaller investors by making the shares — which are now cheaper — more accessible.
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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
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Alphabet CEO Sundar Pichai gestures during a session at the World Economic Forum annual meeting in Davos. Fabrice Coffrini | AFP | Getty Images Google parent-company Alphabet beat expectations for its second quarter earnings Thursday, marking its first revenue decline in the company’s history. The company’s stock fell slightly after hours. Here’s how it did against Refinitiv
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People walk past the U.S. Federal Reserve building in Washington D.C., the United States, May 21, 2020. U.S. Federal Reserve Chair Jerome Powell on Thursday said the COVID-19-induced economic downturn has inflicted acute pain across the country, noting that the burden is not evenly spread. Ting Shen | Xinhua via Getty Images Some borrowers benefit
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Residents of Imperial County in California wait in a bookkeeping shop in Calexico after filling out unemployment forms on July 24. Photo by Mario Tama/Getty Images Senate Republicans unveiled their plan to replace an extra $600-a-week boost in unemployment benefits on Monday. That subsidy — which the federal government has been paying on top of typical
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Boeing 737 MAX airplanes, along with one Boeing 787 at top, are parked at Grant County International Airport October 23, 2019 in Moses Lake, Washington. David Ryder | Getty Images Boeing is scheduled to report second-quarter results before the market opens on Wednesday as the coronavirus pandemic continues to hurt demand for new aircraft and its
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Michael Collins, Representative Lewis’s long time chief of staff, and Speaker of the House Nancy Pelosi (D-CA) embrace after the casket with the remains of Rep. John Lewis (D-GA) was carried from the U.S. Capitol building, in Washington, July 29, 2020. Brendan Smialowski | Pool via Reuters House Speaker Nancy Pelosi, D-Calif., on Wednesday imposed
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Demonstrators rally near the Capitol Hill residence of Senate Majority Leader Mitch McConnell, R-Ky., to call for the extension of unemployment benefits on Wednesday, July 22, 2020. Tom Williams/CQ-Roll Call, Inc via Getty Images Wage replacement Unemployment benefits offer temporary income replacement for workers who lose their jobs through no fault of their own. The
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