Wall Street snapped back from three-year lows on Tuesday, and the Dow surged over 8%, after U.S. lawmakers said they were close to a deal for an economic rescue package, injecting a shot of optimism into markets reeling from the biggest selloff since the financial crisis.
When it comes to how to best help your 401(k) or other retirement funds recover from coronavirus market rout, you may want to take a cue from what successful investors did back in 2008 and 2009. Here's what those investors did, and how quickly their balances recovered.
Stock markets soared on Tuesday, with a gauge of global equities posting its biggest gain since the coronavirus roiled financial markets a month ago, as the U.S. Congress zoned in on a $2 trillion stimulus package to curb the pandemic's economic toll.
Nike Inc beat Wall Street estimates for quarterly revenue on Tuesday, powered by demand in North America and Europe that blunted the first drop in China sales in nearly six years due to the coronavirus-fueled shutdowns.
As the House and Senate hash out coronavirus relief bills, one measure pops up in both proposals: Waiving required minimum distributions for workplace retirement plans and IRAs.
The Dow soared on Tuesday to its biggest one-day percentage gain since 1933, after U.S. lawmakers said they were close to a deal for an economic rescue package in response to the coronavirus outbreak, injecting optimism following the biggest selloff since the financial crisis.
The dollar gave up most of its early losses on Tuesday as investors waited on a Senate stimulus bill meant to blunt the economic impact of the spreading coronavirus, and after U.S. President Donald Trump pressed his case for a re-opening of the U.S. economy by mid-April.
Boeing Co's chief financial officer said on Tuesday the U.S. aerospace industry urgently needs credit to cope with the coronavirus pandemic but "markets essentially are closed" to new debt.
President Donald Trump said on Tuesday that he would not let airplane maker Boeing Co go out of business as a result of the economic disruption caused by the coronavirus outbreak.
Shortly after British Prime Minister Boris Johnson ordered the closure of non-essential retailers on Monday to curb the spread of coronavirus, the parent company of Sports Direct wrote to its staff to let them know: the next day would be business as usual.
Amazon.com Inc's India unit on Tuesday said it will halt orders for non-essential products in India to prioritize customers' critical needs at a time when much of the country is under lockdown to prevent the spread of coronavirus.
Disease outbreaks have led to longer market declines and rebounds that are less sharp as compared with crises that are brought on by natural disasters, according to Credit Suisse.
Broad powers over U.S. factories brought in by President Donald Trump could fuel protectionism and jeopardize the supply of critical medical equipment to fight the coronavirus pandemic, Dutch health technology company Philips warned on Tuesday.
A blistering dollar rally has revived speculation that the U.S. may rein in its currency if the buck goes much higher.
Chevron Corp will slash capital spending by $4 billion this year and suspend share buybacks, the latest oil company to cut costs in the face of an unprecedented slide in oil prices.