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Consumer confidence plunges in April as millions lose jobs

The Conference Board said Tuesday that its confidence index tumbled to a reading of 86.9, the lowest level in nearly six years and down from 118.8 in March.




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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.




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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.




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Plunge in health-care spending a big reason US economy sank in first quarter

The coronavirus crisis actually caused consumer health-care spending to plunge 18% in Q1.




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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




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US services sector posts biggest contraction since 2009 as coronavirus halts economic activity

The U.S. services sector contracted for the first time in about a decade last month as the coronavirus pandemic brought economic activity in the country to a near-screeching halt.




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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.




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NIH doesn't expect the coronavirus to rapidly mutate like the seasonal flu

"We don't think it will have this very rapid seasonal change that we have to deal with influenza," the head of the NIH tells Congress.




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California identifies nail salons as source of coronavirus community spread, Gov. Newsom says

Unlike some other states that have announced reopenings, California nail salons won't be allowed to reopen until the state's phase 3.




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Frontier Airlines to check passenger temperatures. Too high, you won't fly

Before boarding, passengers and crew members will have their temperatures checked at the gate. If someone registers a temperature of 100.4 or higher, they will be kept at the gate.




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Trump shrugs off the brutal jobs report, focuses more on Michael Flynn case

Trump said he's not to blame after the Labor Department reported a devastating loss of more than 20 million jobs in the coronavirus crisis last month.




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Vice President Mike Pence torched after jokingly asking to carry empty boxes at nursing home 'just for the camera'

Vice President Mike Pence got roasted after being caught by a live microphone jokingly offering to carry empty boxes "just for the camera" into a health-care facility treating coronavirus cases.




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HSBC flash PMI confirms China slowdown: Moody's

Alaistair Chan, Economist at Moody's Analytics, attributes the weak data to monetary tightening last year.




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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.




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Evaluating Obama's Asia pivot strategy

Alexander Feldman, President at US-ASEAN Business Council, says U.S. President Barack Obama has been successful in trying to forge closer ties with the Asian region.




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MH370 was not hijacked: Ribbeck Law Chartered

Monica Kelly, Partner at Ribbeck Law Chartered, explains the firm's filing of a court petition against Malaysia Airlines and Boeing for the disappearance of the former's flight 370.




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Asian shares up on China's NPC but China stocks fall

Asian stocks were mostly higher Wednesday, boosted by overnight gains on Wall Street and unveiling of China's official 2014 GDP growth target.




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A new 'Cold War' has begun as US-China tensions rise, says former White House official

A new Cold War is emerging from the ongoing U.S.-China geopolitical tensions, says Clete Willems, an Akin Gump partner and former White House official. He cites the "growing frustration" with China's economic policies and resistance to investigations for its alleged coronavirus involvements.




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Singapore aims for sustainable measures in 'long fight' against the coronavirus: Minister

Singapore needs sustainable measures in its "prolonged battle" against the coronavirus, so that the country can ease out of its "circuit breaker" period to resume normal activities safely, says Lawrence Wong, second minister for finance, minister for national development and co-chair of the multi-ministry taskforce on Covid-19.




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The risk for another US-China trade war is increasing: Strategist

Mitul Kotecha of TD Securities tells CNBC's Squawk Box Asia that the rising tensions between U.S. and China over COVID-19 could make it hard to uphold the Phase One trade deal, risking another trade war.




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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.




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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.




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Australian economy is starting its recovery phase, fiscal policy will influence it the most: NAB

Australia has started plans on re-opening its economy after a period of social distancing. Ivan Colhoun of the National Australian Bank suggests looking to fiscal stimulus to cushion the hit to their economy, and to keep an eye on how lower immigration may slow the economy in the long term.




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Elon Musk says orders to stay home are 'fascist' in expletive-laced rant during Tesla earnings call

Tesla CEO Elon Musk lashed out at government stay at home orders as "fascist" in an expletive-laced rant on Tesla's Q1 earnings call.




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Coronavirus could help Tesla retain EV lead as traditional automakers pare electric investments

Many of the new EVs that were supposed to enter the U.S. market to challenge the California carmaker this year are being delayed.




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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.




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Ex-TARP watchdog says Washington is to blame for large companies receiving small business loans

"I mean, Congress went out of its way to carve out businesses that have more than 500 employees but are restaurants, chain restaurants," ex-TARP watchdog Neil Barofsky told CNBC.




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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.




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A 'discouraged' Terrell Davis almost ditched his first NFL season: 'The only way you really fail is to quit'

At the start of his Hall of Fame NFL career, Terrell Davis was an unheralded running back competing for a spot with the Denver Broncos. After a discouraging start, Davis considered calling it quits before one play in a preseason game changed the 'entire trajectory of my career.'




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These business owners couldn't get a forgivable loan at first. Then it was easy.

Business owners who successfully got loans during the second round of the Paycheck Protection Program describe the emotional roller coaster of the process.




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This skincare company saw record sales in April even as coronavirus pandemic ravaged retail

The rise of virtual hangouts and work meetings hasn't been enough to stop the battering of the beauty industry as the COVID-19 outbreak has largely put in-person activities on hold. But the clean beauty market has been a bright spot.




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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.




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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.




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Small business loans are not going proportionately to the hardest-hit areas, Fed study shows

States enduring the brunt of the Covid-19 crisis are receiving a smaller proportion of emergency small business loans, a Fed study found.




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So much money, so little oversight: Coronavirus bailout cash is a big target for fraud

With so much money being issued so quickly, the potential for scams and misuse runs rampant.




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Elon Musk interrupts NASA-SpaceX call during question about his coronavirus views: 'Move on'

SpaceX CEO Elon Musk unexpectedly spoke up during a NASA conference call on Thursday




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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.




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Carl Icahn, who's made a large bulk of his fortune in energy, has a new play in the industry

Icahn's next energy bet could pay off through a takeover or a rebound in oil prices.




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Rocket Lab CEO: The space industry is entering at least 'a year and a half slog' due to coronavirus

Rocket Lab CEO Peter Beck told CNBC that the impact of the coronavirus crisis on the space industry is in "early days," as he expects a tough environment for at least 18 more months.




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Retail investors bought airline stocks even as travel slowed to a trickle, TD Ameritrade says

"I don't think you're buying these thinking that that business is coming back immediately," TD Ameritrade chief market strategist JJ Kinahan told CNBC.




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'Togetherness kills' — Cramer looks at stocks that will continue to suffer as social distancing remains

"Social distancing is going to be the answer why you have to sell certain stocks," CNBC's Jim Cramer said Tuesday.




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Cramer says the plant-based meat 'movement is happening' and investors better 'get on the bus'

"This is not blockbuster drug, but watch this trend. I think it's very exciting for investors," CNBC's Jim Cramer said Wednesday.




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Cryptocurrency market jumps by over $13 billion driven by bitcoin as major technical event approaches

A rally in bitcoin led the cryptocurrency market higher ahead of a major technical event for the digital coin and as industry participants report an increased interest from institutional investors.




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Tesla shares are up more than 7% since Elon Musk said the stock was 'too high'

Shares of Tesla closed down 10.3% last Friday on CEO Elon Musk's tweet, but have quickly recovered those losses and added much more.




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Georgia small business owner: We won't be reopening yet, as it's too early and unsafe

Vince Villavalzo, owner of the Mystic Owl tattoo parlor in the Atlanta metro area, discusses his decision not to reopen his business, even as the state of Georgia attempts to reopen some of its economy.




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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.




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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.




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Realtor.com: Sharp drop in new listings in April, increase in time it takes to sell a home

Realtor.com chief economist Danielle Hale discusses the firm's latest housing trends report, including whether demand for home buying will return this summer if the U.S. can effectively contain the coronavirus pandemic.




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Emanuel: The market has tried to take bad economic news in stride

Julian Emanuel of BTIG discusses whether health data related to the virus pandemic has become the market's new economic data.




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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.