Three weeks into a partial government shutdown, hundreds of thousands of federal workers are furloughed or working without pay. That’s longer than most can get by without income, considering that over three-quarters of all full-time workers are living paycheck to paycheck, according to a report from CareerBuilder. Federal workers are particularly vulnerable. On average, government
One of the best stock pickers on Wall Street isn’t even human. The AI powered equity ETF, or AIEQ, has already doubled the gain of the S&P 500 so far this year. Powered by IBM’s artificial intelligence Watson, this actively managed portfolio is the first of its kind, said Sam Masucci, founder and CEO of
The Consumer Electronics Show — CES — is how tech starts the year. It’s a massive event in Las Vegas with halls full of booths, wall-to-wall people and companies competing to convince the world that they own the future. Jon Fortt and Julia Boorstin were there for CNBC, interviewing executives, taking in the news and
Check out the companies making headlines before the bell: JPMorgan Chase – The bank reported quarterly profit of $1.98 per share, below the consensus estimate of $2.20, with revenue essentially in line. Consumer, community, and business banking results beat forecasts, but investment bank and wealth management results did not. UnitedHealth Group – The health insurer
Delta Air Lines posted fourth-quarter earnings slightly higher than Wall Street’s expectations on Tuesday. The Atlanta-based carrier earned an adjusted $1.30 a share, compared with $1.27 expected by analysts polled by Refinitiv. Delta’s net income grew more than threefold to $1 billion during the last three months of 2018 from $299 million the year before,
Ford and Volkswagen plan to collaborate on making commercial vans and medium-sized pickup trucks as early as 2022, the two companies said Tuesday. The partnership is expected to boost annual pre-tax operating results starting in 2023, the two companies said in announcing the agreement on the second day of the North American International Auto Show
Getting an advance on your tax refund may seem like a more attractive proposition this year — yet it’s not a move to make lightly. A growing number of consumers have been using financial products at tax time that promise to advance them part of their tax refund. In 2017, taxpayers took out more than
Technology executives are telling CNBC’s Jim Cramer that they’re willing to endure short-term pain from the U.S.-China trade war in favor of the long-term payoff. “When I went out to San Francisco last week, I heard the same thing from a surprising number of people in the tech industry who do not like President [Donald]
The rich – they’re just like us, right? Well, not exactly. If you analyze the habits of wealthy people, some trends begin to emerge. First, they don’t follow the pack — whether it’s a fad investment or panicking during a market sell-off, according to Tom Corley, an author who has studied self-made millionaires. Second, they
Prime Minister Theresa May’s Brexit plan is widely expected to fail in parliament Tuesday, but the defeat could still trigger a violent market reaction. “We could see knee-jerk volatility. She could lose by a historic margin. This could be a historic loss by the government,” said Marc Chandler, Bannockburn Global Forex chief market strategist. Chandler
U.S. airlines are expected this month to post their ninth-consecutive year of profits, the longest stretch of good financial news the sector known for boom-and-bust cycles has had in at least four decades. Investors have not been impressed. The sector lagged the broader market in 2018, and 2019 hasn’t been much better. The NYSE Arca
The parent company of Calvin Klein and Tommy Hilfiger has “changed the narrative” for the retail sector, and its stock still has more upside, CNBC’s Jim Cramer said Monday after the major averages fell slightly on earnings worries. “PVH had a very rough time in the second half of 2018. Even though shares have rallied
Hello, San Antonio! Seniors residing in this Texas city have the have the largest non-mortgage debt balances. Those were the findings from a study by LendingTree. The site, an online loan marketplace, analyzed the data of more than 75,000 of its users. Excluding mortgages, residents of San Antonio between 65 and 70 years of age
Bond bulls take note: Treasury yields are moving lower, and according to one technical indicator, the slide may only just be getting started. On Friday the 10-year yield entered the death cross, when the 50-day moving average crosses below the 200-day moving average. This technical indicator is typically viewed as a sign of further weakness.
Jeff Bezos‘ divorce could become the most expensive in history — exactly what he pays out will depend on the complexities of marital law and the value of Amazon. Bezos announced in a tweet Wednesday that he and his wife of 25 years, MacKenzie, have “decided to divorce.” His tweet suggested that it will be
Citigroup posted fourth-quarter revenue that missed analysts’ estimates by a half-billion dollars as bond trading revenue declined amid a difficult December for markets. The bank said fixed income, currencies and commodities desks produced 21 percent less revenue than a year earlier as trading conditions deteriorated after the company gave guidance in early December. Citigroup said
After an uncommonly strong three-week rally, the stock market is up 10 percent from the harrowing 20-month low it reached in a nearly unprecedented December meltdown. But the S&P 500 index is still 11 percent below its September record high and down 6 percent from a year ago. So what’s now priced into the market,
Shares of Lululemon rose nearly 3 percent in premarket trading Monday after the company indicated it saw strong sales during the holidays. While retailers like Macy’s struggled to meet expectations for their holiday sales, Lululemon benefited from the best holiday season in six years. Monday morning, the athleisure retailer raised its forecast for both revenue
While the majority of middle-class Americans in their 40s and 50s are saving for retirement, getting rid of debt is a more pressing concern. Among that group, 33 percent say their top savings priority for 2019 is paying off debt, according to a new report from AARP and the Ad Council. That ranked ahead of
Bank of America-Merrill Lynch sees evidence the stock market’s bullish activity has near-term staying power. And, it’s using a currency chart to illustrate its case. Paul Ciana, the firm’s chief global technical strategist, highlighted the dollar versus the Chinese yuan on CNBC’s “”Futures Now” to show the strength of “risk on” (or high-yielding, risk-sensitive) assets.
In a clear pitch to millennials, Mercedes has loaded its second-generation CLA coupe unveiled at the Consumer Electronics Show in Las Vegas this week with new digital technology, including the its first semi-autonomous driving system. With a starting price tag at under $30,000, the CLA’s launch in 2013 brought in a wave of young, first-time
Ford Motor is gearing up to launch new electric cars as soon as next year, CEO Jim Hackett told CNBC on Sunday. Ford has previously announced its plans to invest $11 billion in electric vehicles by 2022 and produce 40 hybrid and fully electric cars, in a plan to revive its slowing business. However, the
Carlos Ghosn, the recently ousted Nissan Motor chairman, received about $8 million in pay in 2018 from a Netherlands-based entity that was owned by both Nissan and partner Mitsubishi Motors, according to a Wall Street Journal report. The publication, citing a person familiar with Nissan’s probe, reported on Sunday that the motor giant found that
Amazon founder and billionaire investor Jeff Bezos and his wife of 25 years, MacKenzie, announced via Twitter Jan. 9 that they were parting ways. The couple, who wed one year before the founding of the now giant retail company, reportedly do not have a prenuptial agreement. Bezos, 54, is worth as much as $160 billion
Goldman Sachs is predicting that earnings growth in 2019 could be quite disappointing, advising clients to steer clear of companies leveraged to strong economic growth. In a research note to clients this weekend, the firm gave a forecast that should worry bullish investors, warning that big consumer brands were sounding a warning about corporate profits
An ancient Egyptian artefact has been returned after being illegally smuggled out of the country and displayed in an unnamed London auction house. In a statement on Tuesday, Egypt’s Ministry of Antiquities confirmed that the relic — a tablet carved with the cartouche of King Amenhotep I — had been recovered, after the ministry scoured
This year may be a disappointing one for start-ups planning to go public. Those aiming to list in the first quarter are stuck in limbo, unable to start the application process until the government is fully re-opened. Companies like Airbnb, Uber, Lyft, Pinterest and Slack have all signaled their desire to do an initial public
Cadillac debuts its three-row XT6 sport utility vehicle at the Detroit auto show on Sunday, filling out a lineup of luxury SUVs that many industry analysts say is long overdue. In recent years, the brand once known as the “Standard of the World” has taken heat for being slow to respond to the shift toward
Credit scores have been steadily rising since the Great Recession, averaging over 700 for the first time ever. But if you’re not there yet, there is good news. New criteria will weigh how you manage the cash in your checking and savings accounts, which means the good financial habits you practice today can have a
Call it the Apple turnover. Shares of the tech giant are down over 30 percent from its October high, shedding more than $400 billion in market capitalization from peak to trough. Apple‘s collapse comes amid growing fears over iPhone demand and trade tensions. Last week, the stock fell nearly 10 percent in a day, setting
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