Saul Loeb | AFP | Getty ImagesPresident Donald Trump said Friday that Democrats are using the virulent coronavirus as a “hoax” to damage him and his administration. “The Democrats are politicizing the coronavirus,” he said from a campaign rally in North Charleston, South Carolina. President they tried to beat you on Russia, Russia, Russia. “We are magnificently organized with the best professionals in the world,” Trump said of the administration’s preparations to help contain the spread of the v

When it comes to your 401(k), there’s one piece of advice that most financial experts agree on in market routs like this: Stay the course. However, many investors are not taking that advice, according to the latest data from the Alight Solutions 401(k) Index, which tracks daily activity at 401(k) plans provided by large employers. The index shows that trading activity on Thursday, Feb. 27, was 11.37 times average. Only two other dates have exceeded the 11 times average. If you’re like a lot of p

National Economic Council Director Larry Kudlow urged calm Friday as global fears about the deadly coronavirus sent stocks plummeting once again. Kudlow, President Donald Trump’s top economic advisor, said in a Fox Business interview that investors shouldn’t “rule out more optimistic options.” White House officials, along with Trump himself, have unsuccessfully tried to slow the market’s free-fall this week. Kudlow suggested Tuesday that the coronavirus had been contained “pretty close to airtig

Jim Watson | AFP | Getty ImagesA bill introduced by Sen. Bernie Sanders, I-Vt., that would raise taxes on executive retirement plans could hit an unintended target: employees at start-ups. The Sanders bill would curb this deferral, levying taxes on executives’ savings earlier. Further, equity-based compensation would also be subject to this new treatment, accelerating taxes on nonqualified stock options paid to high-earning employees. Currently, nonqualified stock options are subject to ordinary

Sen. Elizabeth Warren on Friday asked big banks to explain how they are preparing to deal with the spread of the deadly coronavirus. Warren, a Democratic presidential candidate, sent letters to the chief executives of five major banks: Bank of America, Citigroup, Goldman Sachs, JP Morgan Chase and Morgan Stanley. The Massachusetts senator sent the letters less than a week before Super Tuesday and just one day before South Carolina’s primary election. But the global spread of the coronavirus has

President Donald Trump takes part in a cabinet meeting in the Cabinet Room of the White House in Washington, DC. Those people also discussed whether the White House should ramp up pressure on the Federal Reserve to cut interest rates, according to the Post. The White House didn’t immediately respond to CNBC’s request for comment. White House officials, including President Donald Trump himself, have worked to inject some calm into the economy, which is in the midst of a massive sell-off. Read the

Former White House counsel Don McGahn speaks during a discussion on “Constitutional Questions and Political Struggle: Congress’ Role in Oversight and National Security” December 12, 2019 at the NYU Global Academic Center in Washington, DC. A federal appeals court on Friday ruled that former White House counsel Donald McGahn does not have to comply with a subpoena seeking his testimony to the House Judiciary committee. Friday’s decision overturned a ruling upholding the subpoena issed by a federa

Netflix is one of the top 10 performers in the S&P 500 this week as stay-at-home stocks fared better than the rest of the market while health officials ratcheted up warnings about the impact of the COVID-19 coronavirus. Netflix shares were down about 5% for the week as of Friday morning, while the S&P 500 Index had tumbled more than 13%. Other stay-at-home stocks such as video conferencing service Zoom and Peloton, the maker of the home exercise bike and streaming service, also rallied amid a do

Amazon has started restricting all nonessential employee travel in the U.S. as the coronavirus continues to spread, a spokesperson confirmed to CNBC. “We’re asking employees to defer nonessential travel during this time,” the spokesperson said. In January, Amazon said it was restricting employee travel to China “until further notice” amid the coronavirus outbreak. Amazon urged employees who experienced any symptoms to seek medical attention before returning to the office. Amazon had 798,000 full

“We need to keep this virus slowed down, because health systems around the world, and I mean North and South, are just not ready.” Health systems, even in more advanced countries, are “just not ready” for a COVID-19 epidemic, said Dr. Mike Ryan, executive director of the World Health Organization’s health emergencies program. Hospitals across the world are not prepared to handle the coronavirus outbreak that is migrating from Asia to continents across the world, World Health Organization officia

General Motors will add more than 1,200 new jobs at plants in Michigan to produce crossovers and Cadillac cars. The automaker announced the increase Friday as part of plans to add shifts of production at two assembly plants near Lansing, Michigan, by the second quarter. “We are excited to provide these opportunities in Lansing,” Phil Kienle, vice president of GM North American Manufacturing and Labor Relations, said in a release. GM says that since 2015, it has invested more than $1 billion into

Traders who rushed to buy Virgin Galactic in its February boom are moving into stocks that could benefit from the coronavirus. The high-growth space travel stock — the most traded name on SoFi Invest last week — is losing its appeal for millennial traders on the platform. Virgin Galactic saw net selling this week thanks to “people taking gains,” according to SoFi. Virgin Galactic shares have dropped more than 33% in the past week. Instead, the start-up said its majority millennial traders are bu

While the broader market craters, the well-known maker of bleach and disinfection wipes is only 8.5% off its most recent high. Consumer-staples giant Clorox, along with 10 other stocks have emerged as the definitive anti-coronavirus trades, as the only S&P 500 stocks avoiding correction territory. Meanwhile, a handful of stocks are being spared, and they are all plays on the coronavirus. Consumers are turning to Clorox products for preventative measures against the spreading deadly virus. Regene

Almost half of Americans plan to work past the traditional retirement age of 65, and their biggest motivation comes down to savings. And if you have a traditional job, you already pay 6.2% of your salary in Social Security taxes. In this case, there are two puzzle pieces to your monthly retirement budget: your personal savings and Social Security. NerdWallet crunched the numbers to figure out the personal savings side of your retirement plan. Check out the video to see a breakdown of how much mo

WASHINGTON, DC – DECEMBER 09: Rep. John Ratcliffe (R-TX) questions Intelligence Committee Minority Counsel Stephen Castor and Intelligence Committee Majority Counsel Daniel Goldman during the House impeachment inquiry hearings in the Longworth House Office Building on Capitol Hill December 9, 2019 in Washington, DC. (Photo by Doug Mills-Pool/Getty Images)In what amounts to a dare to a direct challenge to Senate Republicans, President Trump announced that his pick to head the intelligence communi

Harley-Davidson CEO Matthew Levatich is leaving the struggling motorcycle maker. The Milwaukee company announced Friday that Levatich will leave his post and seat on Harley’s board of directors. Board member Jochen Zeitz will become acting president and CEO while a board search committee is formed and Harley hires an outside search firm to fill the job. “The Board and Matt mutually agreed that now is the time for new leadership at Harley-Davidson,” Zeitz said in a prepared statement. He said the

Vermont Sen. Bernie Sanders just introduced legislation that’s raising alarms in Silicon Valley. This means that instead of being taxed once they exercise their options, employees would be taxed on shares when they vest, even though they still wouldn’t be liquid assets. Start-up employees are commonly offered stock options as part of their compensation packages. Engine pushed back on a similar provision in a Republican tax plan in 2017 that would have also taxed vested stock options. Here’s Khan

“Really, the market ramped up back in 2016, so, let’s use [the] February 2016 low as a trend line,” Baruch said. It’s still out above the 200-day moving average. I want to be buying Microsoft into that,” he said. Microsoft ended trading up nearly 2.5% on Friday at $162.01, still far off its 200-day moving average at just above $145. The stock’s 200-day moving average comes into play just above the $240 level.

President Donald Trump leaned on the Federal Reserve for help to deal with ramifications from the coronavirus impact on the stock market and the economy. “I hope the Fed gets involved, and I hope they get involved soon,” Trump said during a scrum with reporters late Friday afternoon, nearly an hour after Wall Street closed out its worst week since the financial crisis. “They’re all going in, they’re all putting in a lot of money. Our Fed sits there, doesn’t do what they’re supposed to do,” Trump

Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., February 28, 2020. Amid the wreckage in global stock markets this week as panic over the spread of coronavirus wiped out $6 trillion in value, one corner of Wall Street has been making a mint. The VIX, known as the “fear gauge” of Wall Street, rose above 49 on Friday, an alarming jump not seen in two years. The desks are projecting sharp increases in stock trading results for the quarter thanks to the activity, sa