People wait in a queue to buy masks at a pharmacy in Hong Kong on January 30, 2020, as a preventative measure after a virus outbreak which began in the Chinese city of Wuhan. Expect supply disruptions as China takes measures to contain an ongoing coronavirus outbreak, says REYL Singapore’s Daryl Liew. With the virus infecting at least 7,700 and killing 170 in China, authorities have taken measures to curb the disease’s spread. It’s not bouncing back significantly but it is rebounding,” Liew said

The bureau said it made that decision to avoid large gatherings of people in order to block the spread of the coronavirus outbreak. 11:10 am: Ikea closes all stores in ChinaThe world’s biggest furniture retailer Ikea said it has temporarily closed all its 30 stores in China due to the coronavirus outbreak, Reuters reported. 7:50 am: Chinese officials confirm death toll rises to 170China’s National Health Commission confirmed an additional 38 deaths and 1,737 new cases. The NHC said the new cases

Stocks in Asia were set to slip at the open on Thursday as the U.S. Federal Reserve kept interest rates on hold and investors continued to watch for developments on the ongoing coronavirus outbreak. Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 23,280 while its counterpart in Osaka was at 23,290. Meanwhile, stocks in Australia dipped in early trade, with the S&P/ASX 200 about 0.1% lower. Investors will continue to watch for developments on the

American Express announced new benefits and annual fee changes for all seven Delta SkyMiles credit cards last September that take affect Jan. 30, 2020. For six of the seven cards, the annual fee is increasing by up to $100. Prospective applicants have until end of day on Jan. 29, 2020 to apply for the Delta SkyMiles credit cards and lock in the lower annual fee for a year. If you’ve been thinking about opening one of these airline credit cards, now is the best time since you can save up to $100

Gold gained on Wednesday as worries over economic growth due to the fast-spreading coronavirus buoyed safe haven demand, as the Federal Reserve left rates steady. The U.S. central bank kept interest rates unchanged at its policy meeting on Wednesday. Lower interest rates decrease the opportunity cost of holding non-yielding bullion and weigh on the dollar, making gold cheaper for investors holding other currencies. “Other than the Fed factor, reasons for investors’ interest in gold are the coron

The 2019 Super Bowl was a first for Ricardo Casal and Juan Javier Peña Plaza. “If you ask me to do a campaign to launch a product or a Super Bowl spot, it’s the same amount of pressure.” The Burger King ad, which featured 45 seconds of Andy Warhol eating a Burger King Whopper burger, used existing footage from the pop artist and came together much closer to deadline. Casal and Peña Plaza may treat every project like it’s the Super Bowl, but ads for the biggest television event of the year come w

Apple hit a record high Wednesday after topping earnings and sales estimates in its recent quarter. Davidson, said this quarter shows Apple expanding beyond the iPhone for revenue. Krish Sankar, senior research analyst at Cowen, praised the ability of a multibillion-dollar company growing at such a fast pace. Jim Suva, senior tech analyst at Citi, said revenue and earnings growth should continue to benefit the stock this year. It’s setting up for a very good opportunity and a reason why we think

Jim Cramer says Apple and General Electric ’embraced radical transparency'”It’s easy to assume everyone in this business is totally cynical, but taking that approach kept you out of some monster gains in Apple and in GE,” CNBC’s Jim Cramer says.

In a statement to NBC News and CNBC on Wednesday evening, Wells Fargo confirmed that it would no longer participate. “We have reviewed this matter carefully and have decided to no longer support Step Up for Students,” the San Francisco-based bank said of the voucher program. In a tweet to a Florida lawmaker Tuesday, Fifth Third Bank, based in Cincinnati, said it has told officials with the voucher program that it will also stop participating. “That means at least 14 percent of Florida’s nearly 1

Kobe Bryant and daughter Gianna Bryant attend a basketball game between the Los Angeles Lakers and the Dallas Mavericks at Staples Center on December 29, 2019 in Los Angeles, California. Kobe Bryant’s wife of nearly 20 years broke her silence Wednesday on the death of her husband and their 13-year-old daughter, Gianna, in a heartbreaking Instagram post. Vanessa Bryant said she and her three surviving daughters have been “completely devastated.” Vanessa and Kobe Bryant married in 2001, and would

Cryptocurrency exchange operator Coinbase has opened new custody operations in Dublin to help its non-U.S. institutional clients store their assets. Mostly known for its retail investment platform, Coinbase has been making an institutional push over the years, selling professional trading and custody services to institutional investors with deeper pockets. The company on Wednesday announced that it would set up Coinbase Custody International, a new entity based in the Irish capital, to further e

Barstool Sports founder David Portnoy told CNBC on Wednesday he has his eyes set on owning a sports team after the sports and pop culture blog landed a nine-figure partnership with Penn National Gaming. The deal “is so big, I’m trying to get to, like, buy [a] sports team-type mogul,” he said in an interview with Jim Cramer, appearing alongside Barstool CEO Erika Nardini and Penn National CEO Jay Snowden on “Mad Money.” Penn National, an operator of 41 casinos across 19 states, inked a partnershi

AT&T: “You know, I didn’t think the quarter was nearly as bad as the stock reacted. The stock’s down $1.50, yields 5.6%. I think the yield’s safe. Amarin Corp.: “Count me as a speculative buyer.” LyondellBasell Industries: “I would be a buyer.”

CNBC’s Jim Cramer said Wednesday that investors can miss out on gains when companies have “embraced radical transparency” and investors fail to see the truth for what it is. Apple stock, he pointed out, tumbled 36% over the course of two months after executives updated their reporting metrics in late 2018. On Tuesday, Apple revealed that iPhone revenue topped estimates by more than $4 billion in its most recent quarter. “Turns out Apple wasn’t trying to be opaque at all when they changed the way

CNBC’s Jim Cramer broke down why investors must take a chance on a stock when the chief executive of the underlying company is being transparent. The “Mad Money” host sat down with the heads of Penn National Gaming and Barstool Sports to discuss the two companies’ bet on sports gambling. “It’s easy to assume everyone in this business is totally cynical, but taking that approach kept you out of some monster gains in and in ,” the “Mad Money” host said. Penn National bets on BarstoolFrom left: Dav

On an earnings call to discuss the Q4 report, retail and institutional investors asked CEO Elon Musk if it may not be a perfect time to raise more capital. They suggested Tesla could raise easily at favorable rates now, either to pay down its debts, or to accelerate the company’s progress on new products and factories. The Tesla CEO said, “We’re spending money as quickly as we can spend it sensibly.” Instead, he said, Tesla will be focusing on increasing battery production capacity and lowering

Facebook on Wednesday reported its fourth-quarter earnings with a new metric that showed that the company still relies almost entirely on its core app to generate revenue. If the rest of the Facebook family members were contributing meaningfully to the top line, the family of apps ARPU would be greater, not less, than its core app ARPU. The new family of apps ARPU metric will be a key figure for investors to keep an eye on, but the revelation is hardly surprising. As for Facebook’s Oculus and Po

Though it has looked like last year’s recession scare was a false alarm, the bond market is close to sending another signal about a downturn. The yield curve, or the spread between bonds of various maturities, is tightening again, with the gap between the three-month and 10-year Treasury notes less than 5 basis points Wednesday. When the three-month tops the benchmark 10-year yield, that’s called an inverted yield curve and has been a strong sign since 1950 that a recession is coming in the next

Traders work on the floor of the New York Stock Exchange (NYSE) on February 6, 2018 in New York City. Spencer Platt | Getty Images News | Getty ImagesDow Jones Industrial Average rises 11 pointsThe Dow climbed 11.60 points, or 0.04%, to 28,734.45. Investors digested better-than-expected earnings along with no surprises from the Federal Reserve. Earnings and FedApple led a parade of companies that reported better-than-expected earnings, including General Electric, Dow and McDonald’s. General Elec

White House trade adviser Peter Navarro listens to a news conference about a presidential executive order relating to military veterans outside of the West Wing of the White House in Washington, March 4, 2019. White House trade advisor Peter Navarro pushed back Wednesday against the idea that the U.S. would remove tariffs on Chinese imports if the deadly coronavirus begins to weigh on China’s economy. The U.S. Senate approved the United States-Mexico-Canada Agreement on Jan. 16, one day after Tr