(Bloomberg) -- Lawmakers in Washington are making it easier for Americans struggling with the fallout from the coronavirus to draw on the trillions of dollars in their 401(k)s and other retirement accounts.For a limited time, Americans would be able to withdraw money from tax-deferred accounts without penalties under a stimulus package approved by the Senate and awaiting a vote in the House. Rules on 401(k) loans would also be relaxed, and some retirees would avoid so-called required minimum distribution, or RMD, rules that might have been onerous.Read more: House faces urgency to act on Senate’s $2 trillion virus rescue billSome of the changes mirror what’s been done for retirement savers after previous disasters. In general, though, the adjustments are “much more significant than what was done for the California wildfires or the hurricane in Houston,” said Gregg Levinson, senior director, retirement, at Willis Towers Watson.That’s needed because “with Covid-19, we are...
The CDC has issued guidelines for truck drivers delivering into New York City area, which is one of the hardest-hit by the COVID-19 pandemic. CNN reported that as of midday March 26, about half of the 74,000 cases of coronavirus in the U.S. were in New York – almost 10 times more than any other state. ...
(Bloomberg) -- The recent popularity of Blue Apron Holdings Inc.’s mail-order meal kits is giving the struggling company a much-needed boost, but some industry watchers say that will pass once the coronavirus outbreak abates.Blue Apron is attracting new users in part because fresh ingredients can be hard to find in supermarkets right now, said Dan McCarthy, an assistant professor of marketing at Emory University’s Goizueta Business School. However, he notes the company was “bleeding customers very consistently” up until recently and that’s likely to be the case again once people return to their normal lives.“The amount of repeat business they were getting was not enough to sustain their business,” McCarthy said in a phone interview. “It’s likely delaying the inevitable.”Blue Apron declined to comment. McCarthy has been following the meal-kit company since a few months before its June 2017 initial public offering and references it in lectures as a case study.The...
Opinions can heat up as fast as an overloaded GPU processor, when the conversation among gaming enthusiasts turns to their favorite GPU manufacturer. AMD and Nvidia are the two dominant forces in the field, and each boasts legions of fans.While hardly any companies have been immune to the destructive effect of coronavirus, the two chipmakers have withstood the macro storm relatively well. As Wall Street analysts make adjustments to fit the new coronavirus driven paradigm, these market leaders have caught Wall Street's attention.Investment firm Wedbush just added both AMD and Nvidia to its “Best Ideas List.” The list – which comprises 29 stocks – highlights the firm's highest rated equities, chosen by its analysts, and vetted by its Investment Committee.We ran the two through TipRanks database to further gauge the Street’s sentiment towards the GPU giants. It appears, that in addition to Wedbush’s call, both are Buy-rated and are poised to...
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]...
Gregory Daco, Oxford Economics Chief U.S. Economist, joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to discuss the coronavirus outbreak’s impact on businesses and jobs....
Stocks extended their gains for the third day in a row Thursday, marking a refreshing change in character for shellshocked investors. Many of the worst-performing industries have seen their constituent's shares come rip-roaring back -- airlines, cruise lines, casino stocks, home builders, restaurants -- you name it.But I suspect the easy part of the oversold bounce is over. While it's possible we continue to melt higher; many equities are pushing into potential resistance zones that are bound to put up a fight. Plus, with their heavy losses now lightened, investors are one scary headline away from heading for the exit door. And that could spark the next descent.Though we could pick any number of potential sectors to sell, we're focusing on casino stocks. They're on the wrong side of the social distancing trend and remain vulnerable to more downside.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Stocks...
