ee

Coronavirus will shrink US home prices by 2-3% nationally, Zillow forecasts, but deeper dive could be in store

Home prices have only fallen nationally once since the Great Depression, and that was after the subprime mortgage crisis and the Great Recession. Now, barely eight years after hitting bottom, and after a mighty recovery, prices are predicted to fall nationally again, down 2-3% this year, according to Zillow.




ee

Here's what homeowners need to know about forbearances

CNBC's Diana Olick breaks down what homeowners need to know about mortgage forbearances.




ee

Weekly mortgage applications show real recovery in homebuying, as interest rates set another record low

Homebuyers appear to be heading slowly back into the market, as the coronavirus-stricken economy begins to reopen.




ee

NFL teams seeing high early ticket demand despite Covid-19, agency SeatGeek says

The Las Vegas Raiders, Los Angeles Rams and Tampa Bay Buccaneers are among the most in-demand teams, while demand for Patriots tickets is way down, according to ticket volume data provided by SeatGeek.




ee

Rural retail chain owner Stage Stores prepares for bankruptcy that could come as soon as next week

Stage Stores has about 700 department stores predominately in small towns and rural communities. It employed roughly 13,600 full-time and part-time employees as of February.




ee

Department stores had an insane week. Here's everything that happened

It was another onslaught of bad news from America's department store chains, including bankruptcy filings and store closures, this week. And that likely will not be letting up anytime soon.




ee

Booking Holdings CEO says a coronavirus vaccine is needed to make travelers feel safe again

Even as economies start to reopen, Booking Holdings CEO Glenn Fogel said the travel industry will take years to recover to pre-coronavirus levels.




ee

JC Penney in talks to fund potential bankruptcy filing next week

If J.C. Penney files for bankruptcy without financing in hand, it could doom the department store chain's restructuring process.




ee

Federal Reserve seeks banks' advice as it gets into direct lending with coronavirus relief

The Federal Reserve has reached out to investment and retail banks for feedback on its Main Street lending program ahead of its formal launch, according to people familiar with the matter.




ee

The US will need to spend trillions more as economy takes until 2022 to fully recover: CNBC survey

A third of respondents in the CNBC Fed survey believe the economy won't be fully restored until the second quarter of 2022.




ee

Trump to meet with executives from Waffle House, Wynn, Toyota, others to discuss reopening economy

Trump has been soliciting feedback from a wide range of executives on when and how to reopen businesses that have shuttered their doors amid the coronavirus pandemic.




ee

Powell says the economy will likely need more support from the Fed for the recovery to be 'robust'

Federal Reserve Chairman Jerome Powell said more stimulus is needed to ensure a robust economic recovery from the coronavirus crisis.




ee

Fed pledges to keep rates near zero until full employment, inflation come back

The Federal Reserve painted a dour picture of current conditions and pledged Wednesday to continue its historically aggressive policy.




ee

US weekly jobless claims hit 3.84 million, topping 30 million over the last 6 weeks

Jobless claims for the week ended April 25 came in at the lowest level in a month but bring the rolling six-week total to 30.3 million as part of the worst employment crisis in U.S. history




ee

April's jobs report showing millions out of work looms large in the week ahead

In the week ahead, the April jobs report is expected to show the highest unemployment since 1939.




ee

Test, trace, isolate: Governments need to do these three things before reopening economies, expert warns

A global health expert and physician told CNBC that easing lockdowns without taking certain action would risk a second surge in coronavirus infections.




ee

Fed Vice Chair Clarida says more support may be needed, but economy to rebound next quarter

"More policy support will be needed from the Fed and possibly also fiscal policy. It just depends on how this evolves," Clarida told CNBC.




ee

Treasury launches 20-year bond to help fund the record borrowing needed this quarter

An auction May 20 will feature a sale of $20 billion worth as part of an effort to push the record-setting debt levels further out in terms of duration.




ee

It's critical we have cheap, rapid at-home testing for Covid-19, but that could take weeks or even months, experts say

Most experts agree that Covid-19 testing is vital to safely reopen the economy. But getting to scale presents challenges, they say.




ee

Wall Street in a 'strange dynamic': Pro

Robert Pavlik, Chief Market Strategist at Banyan Partners, says recent losses on Wall Street was caused by a myriad of factors, which include more than Chinese weak data and Ukraine tensions.




ee

The curious case of vanishing tweets

Twitter says a technical glitch could be why some of its most popular tweets have disappeared from its platform. CNBC's Julia Wood reports.




ee

Even if China sells US treasuries, demand from other sources will keep the dollar elevated: TD Securities

According to Mark Mccormick of TD Securities, there lacks a realistic alternative in the currencies markets, so even if China sells U.S. treasuries, demand from other sources will come in and keep the U.S. dollar elevated for the next couple of months.




ee

Uber and Lyft unlikely to see recovery anytime soon, says analyst

Angelo Zino of Equity Research tells CNBC's Squawk Box Asia that Uber and Lyft will not likely see significant recovery until a vaccine is found amid the uncertainty of the coronavirus pandemic.




ee

China needs a growth target to guide its stimulus measures: Citi

China should still set a growth target this year for the authorities to design a "sensible" stimulus package, says Liu Li-gang, Citigroup's chief economist for China, who adds that the country's unemployment rate risks exceeding 10% without aggressive fiscal stimulus.




ee

April job losses will be three times those from the GFC: Economist

Gregory Daco of Oxford Economics says he expects the U.S. unemployment rate to go up to 17% in April, reflecting a loss in income that will weigh on consumer spending and subsequent economic recovery.




ee

US is reopening too soon and may see tepid recovery from virus crisis: Deutsche Bank

In contrast to the U.S., countries in North Asia and Australia had "very convincing containment" of the coronavirus crisis, making them more likely to achieve a "very sharp" economic rebound post-pandemic, says Deutsche Bank's Michael Spencer, chief economist and head of research for the Asia-Pacific.




ee

Ford plans health screenings, temperature checks to bring office workers back beginning in June

Ford Motor expects to begin calling back salaried employees who have been working remotely due to the coronavirus pandemic beginning in late June, executives said Thursday.




ee

Tesla tells furloughed workers to expect a week or more of unemployment

On Friday, Tesla braced its furloughed U.S. employees for at least another week of unemployment, wrapping up a wild week that included expletives and wild tweets from CEO Elon Musk.




ee

USAA chief: Coronavirus 'cabin fever' may be behind car crash uptick after initial steep decline

"The last couple of weeks we've seen a slight uptick in those rates, certainly not because stores are reopening," USAA CEO Wayne Peacock told CNBC.




ee

Fiat Chrysler to restart US production in two weeks after coronavirus shutdowns lead to $1.8 billion quarterly loss

Despite the "unexpected and unprecedented times" due to Covid-19, the company, said Tuesday that it and French automaker PSA Group "remain committed" to a previously announced merger of equals.




ee

Michigan governor to allow state's auto manufacturing plants to reopen next week

Michigan Gov. Gretchen Whitmer will allow the state's auto manufacturing plants, most of which have been shuttered since March due to the coronavirus pandemic, to reopen beginning Monday.




ee

Mark Cuban: Texas reopening 'more show than go,' small business needs more help to do it safely

"There's all these downstream issues that really haven't been addressed yet," the Dallas Mavericks owner and "Shark Tank" investor told CNBC on Friday.




ee

Kudlow says third round of PPP small business loans might be needed as demand soars

The second round of the Paycheck Protection Program launched last Monday and has so far provided over 2 million loans worth over $175 billion out of the total $310 billion Congress authorized in the latest relief package.




ee

How Latino small business owners are keeping their businesses running during coronavirus

Latino entrepreneurs are among the majority of small business owners directly impacted by the economic fallout.




ee

Small business confidence crashes, revealing more Main Street carnage may lie ahead

Main Street confidence hit a record low in the Q2 2020 CNBC Small Business Survey, with the coronavirus causing a majority of entrepreneurs to fear permanent changes, including bankruptcy.




ee

Clock ticking for small businesses squeezed out of government loans, now have a few months or less to survive, survey reveals

Only 13% of small businesses that applied for relief through the Paycheck Protection Program have received funding, according to the CNBC/SurveyMonkey Small Business Survey released Monday.




ee

Stocks just posted their best month in decades, yet most of Wall Street hates this rally

"History tells us that the odds of another deep decline are very, very high," one strategist said.




ee

This pregnant Goldman Sachs trader says Wall Street will never be the same after the coronavirus

After the coronavirus pandemic forced traders to work from home, Wall Street has gone virtual, leaning on tech platforms like Symphony and Zoom.




ee

NASA's billions of investment in SpaceX have been 'very beneficial,' agency chief says

NASA Administrator Jim Bridenstine believes the billions his agency has invested in Elon Musk's SpaceX have been well worth it.




ee

Emons: The stock rally appears to be driven by three types of economies

Ben Emons of Medley Global Advisors discusses the opportunities investors can find among companies operating in the "new economy", such as tech and healthcare, and those in a "return to normal" environment, such as entertainment, leisure and hospitality.




ee

Jablonski: There's a big difference between the economic outlook and what the markets are doing

Sylvia Jablonski of Direxion discusses the disconnect between real economic conditions on the ground and how the markets are reacting amid the COVID-19 pandemic.




ee

Rystad Energy: Global crude storage capacity may reach the top in about 3-4 weeks

Bjørnar Tonhaugen of Rystad Energy discusses what could potentially happen to oil prices when the U.S. and the world is projected to run out of viable physical storage capacity, potentially sometime in May.




ee

Wedbush's Kulina: The key for big tech earnings has been signs of stabilization in April

Joel Kulina of Wedbush Securities discusses the key takeaways from Facebook, Microsoft and Tesla's earnings reports, and whether big tech companies may largely get a pass for a downturn in business in the latter part of Q1.




ee

Lesko: The COVID-19 pandemic has basically been a gift to Amazon

Tim Lesko of Granite Investment Advisors says it's hard to imagine a better backdrop for Amazon, with the surge in online sales during the virus outbreak, and as for Apple, expectations weren't very high for iPhone sales this year, even before the pandemic.




ee

Why one of the nation's largest car dealers says sales have been improving in recent weeks

Bryan DeBoer, CEO of car dealer Lithia Motors, discusses how auto sales have trended during the COVID-10 pandemic, and how the company has adapted to accommodate potential car buyers, including home delivery and pickup.




ee

Wall Street is too optimistic as economies start reopening, Stephen Roach warns

One of the world's leading authorities on Asia is worried Wall Street is miscalculating China's efforts to reopen its economy.




ee

Virgin Media and O2 agree on $39 billion merger to create a new UK telecom giant

The combined group could put pressure on rival telecommunications firms BT, Vodafone and Sky.




ee

Nucor CEO sticks by dividend, predicts steel price bottom in second quarter

"We are optimistic that we'll see the bottom in Q2 and move out of that as we enter the third and fourth quarters," Nucor CEO




ee

Wall Street's 'incredibly strong month' is based on 'hope,' Jim Cramer warns

"Some of these hopes make more sense than others," the "Mad Money" host said.




ee

Estee Lauder CEO: 'Consumer finds a way to get the product they want,' as online sales grow double digits

"The consumer finds a way to get the product they want" and "found a way to buy our product online more than usual," Estee Lauder CEO Fabrizio Freda said.