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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.




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Struggling to pay your mortgage? Here's how to get help

If you have been financially impacted by Covid-19 and are worried about paying your mortgage, you could consider applying for forbearance. Under the Cares Act, struggling homeowners can either reduce or pause payments on a federally backed mortgage loan. Many private lenders are also offering relief.




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NYC real estate market under pressure as coronavirus pandemic halts sales

New York City is the nation's largest real estate market, and the pandemic has caused a number of deals to go bust. CNBC's Robert Frank reports.




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Hilton is in a good position to withstand the coronavirus: Macquarie

As the travel and tourism industry struggles with the fallout from the coronavirus, Chad Beynon of Macquarie explains why Hilton's franchise business model makes it resilient in this challenging environment.




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Mortgage bailout swells to 4.1 million borrowers, but demand is slowing

In the past week, 225,000 more borrowers took advantage of government and bank mortgage forbearance programs, according to data firm Black Knight.




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Stocks making the biggest moves midday: Tesla, Uber, MGM Resorts & more

Check out the companies making headlines in midday trading on Friday.




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Shanghai Disneyland tickets sellout for opening day, signaling pent up demand for theme parks

It seems Chinese consumers aren't afraid to return to theme parks. Tickets for Monday's reopening of Shanghai Disney sold out within minutes.




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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.




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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.




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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.




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Top ad firm outlines business sectors hit the most by the pandemic, and the ones that are faring better... for now

Sectors like health care or financial services have been less impacted by the pandemic so far, but Omnicom foresees demand for marketing services to decline as advertisers cut costs in the short term.




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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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The Fed may provide more details on the policy 'bazooka' it fired to help markets

The Fed is not expected to adjust rates but it could provide details on the unprecedented moves it has made to fight the virus impact.




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Pending home sales tank nearly 21% in March, but Realtors claim prices will hold up

Home sales took a deep dive in March as the coronavirus pandemic shut down much of the economy, and homebuyers and sellers pulled out of the normally busy spring market.




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8-month 'structured lockdowns' could halve economic damage from the coronavirus, research claims

Researchers at Cambridge University and the U.S. Federal Reserve Board found that imposing no lockdown measures in the face of Covid-19 was "extremely risky" for developed economies.




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Over 50% of department stores in malls predicted to close by 2021, real estate services firm says

Department stores still represent about 60% of the anchor space within malls across the U.S. today, according to Green Street Advisors.




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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.




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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.




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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.




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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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Consumer debt hits new record of $14.3 trillion

Household debt balances through March totaled $14.3 trillion, a 1.1% increase from the previous quarter and now $1.6 trillion clear of the previous nominal high of $12.7 trillion in the third quarter of 2008 during the financial crisis,




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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.




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Most 2020 swing state voters want more direct payments during coronavirus, CNBC/Change Research poll finds

Democrats are pushing for at least one more round of direct payments during the coronavirus crisis after many voters got $1,200 stimulus checks.




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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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US private payrolls drop by 20.2 million in April, the worst job loss in the history of ADP report

Private payrolls hemorrhaged more than 20 million jobs in April as companies sliced workers amid a shutdown that took most of the U.S. economy offline, according to a report Wednesday from ADP.




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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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Hydroxychloroquine fails to help hospitalized coronavirus patients in US funded study

Hydroxychloroquine, a decades-old malaria drug touted by President Donald Trump, didn't appear to help hospitalized patients with Covid-19, according to a new observational study.




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Trump says coronavirus tests are 'overrated,' but he will get tested daily

The new daily testing policy for the president and the people in his circle comes hours after the White House acknowledged that a personal valet for Trump tested positive for Covid-19.




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California Gov. Gavin Newsom unveils health guidelines for retailers and manufacturers to reopen starting Friday

California Gov. Gavin Newsom announced on Thursday a list of health guidelines that retailers, manufacturers and warehouses must adopt to begin offering curbside pick-up as early as Friday.




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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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Spain reports uptick in daily coronavirus deaths; Australia plans reopening in 3 stages

Spain saw 229 new deaths related to Covid-19, up from 213 the day before.




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5 things to know before the stock market opens Friday

Stock futures rise as traders look past the jobs collapse and take comfort in new promises from U.S. and China trade negotiators.




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Republicans stall on next coronavirus relief bill, United Airlines halts $2.25 billion bond offering

Covid-19 has infected more than 3.8 million people around the world as of Friday, killing at least 269,881 people.




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Moderna CEO says supply of coronavirus vaccine will be limited, US will help decide who gets it first

"We will all be supply constrained for quite some time, meaning we won't be able to make as many product as will be required to vaccinate everyone on the planet," CEO Stephane Bancel said on CNBC's "Squawk Box."




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Sorrento Therapeutics and Mount Sinai join forces to develop Covid-19 antibody shield

Sorrento Therapeutics and Mount Sinai Health System in New York City have joined forces to develop an antibody cocktail they hope will shield against Covid-19 infection for up to two months.




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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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US lawmakers urge Mnuchin to crack down on airlines cutting worker hours after taking billions in coronavirus aid

Three Senate Democrats are urging Treasury Secretary Steven Mnuchin to crack down on airlines that are cutting employee hours, despite billions in federal coronavirus relief.




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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.




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New York City partners with Salesforce on coronavirus contact tracing program, mayor says

Salesforce will deploy a call center as well as a customer relationship and case management system that will help the city track potential cases and isolate people before they become sick, de Blasio said.




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Melinda Gates says US coronavirus response is 'chaos,' gives Trump administration a D-minus grade

Melinda Gates, co-chairman of the Bill & Melinda Gates Foundation, gave President Donald Trump's administration a "D-minus" on its handling of the coronavirus pandemic, criticizing lack of leadership on both national and international levels.




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Watch live: New York Gov. Andrew Cuomo holds a press conference on the coronavirus outbreak

On Wednesday, Cuomo said most new Covid-19 hospitalizations in New York state are from people who were staying home and not venturing much outside.




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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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New York investigates coronavirus in children after 5-year-old NYC boy dies from complications, Gov. Cuomo says

New York is investigating how Covid-19 impacts children after a 5-year-old boy in New York City died due to coronavirus-related complications, Gov. Andrew Cuomo said Friday.




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San Diego mayor: Compliance with new beach rules bodes well for state business reopening

"San Diegans, just like others in California, do not want to give back the tremendous gains that we've made, the sacrifices that we've made over these last six weeks," Mayor Kevin Faulconer said.




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Russia's Victory Day celebrations pared back; Spain's daily coronavirus death tolls falls

Russia marks the 75th anniversary of Soviet victory over Nazi Germany in World War Two on Saturday, but the coronavirus outbreak means that celebrations have been pared back massively.




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Could US LNG exports actually scare Russia?

Myron Brilliant, Executive VP & Head of International Affairs at the U.S. Chamber of Commerce, explains how increased U.S. LNG exports could impact Russia's standoff with Ukraine.




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Why the Fed isn't ready for a rate hike yet

Quincy Krosby, Market Strategist at Prudential Financial, explains why the U.S. central bank is still far from initiating a rate hike.




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This is the key challenge for China carmakers

Chinese automakers face the greatest competition from their international rivals, says Janet Lewis, Head of Industrial Research, Asia at Macquarie.




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World Bank: China's rebalancing act is challenging

Sri Mulyani Indrawati, COO & Managing Director at the World Bank, says China's attempt to shift its economic model will require many policy adjustments.