CNBC Economy

This marked the first negative GDP reading since the 1.1% decline in the first quarter of 2014 and the worst level since the 8.4% plunge in Q4 of 2008 during the worst of the financial crisis

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.

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.

The number of Americans who have lost their jobs during the coronavirus pandemic could be even bleaker than official government data suggests.

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.

A third of respondents in the CNBC Fed survey believe the economy won't be fully restored until the second quarter of 2022.

The Conference Board said Tuesday that its confidence index tumbled to a reading of 86.9, the lowest level in nearly six years and down from 118.8 in March.

Home prices were not only gaining in February, the gains were increasing steadily. The expectation, however, is that price gains will weaken and potentially fall in some of the markets hardest hit by the coronavirus.

The bill includes $370 billion for small business aid, $75 billion for hospitals and $25 billion for testing during the coronavirus pandemic.

"I don't think making us less competitive, less attractive, and taking more of what people earn will ultimately be the answer here," Rep. Kevin Brady told CNBC on Friday.

U.S. consumer sentiment fell for a third straight month as people weigh the coronavirus pandemic and the possibility of an economic re-opening.

Gig workers and other self-employed individuals are trying to make sense of yet another wrinkle in a roundabout process to collect unemployment benefits.

U.S. orders for long-lasting factory goods were expected to drop 11.9% in March as the Covid-19 outbreak took hold. Durable goods orders rose 1.2% a month earlier.

The jobless claims report showed that it took only five weeks for the U.S. economy to erase all the job gains since the Great Recession.

The number represented a decline of 810,000 from the previous week, but the five-week total has now surpassed all of the job gains since the Great Recession.

As data points come in, they'll largely tell a story about the present and the near past. What they won't provide, at least for a few months, is a reliable portrait of the future.

About 4.3 million workers are expected to have filed unemployment claims last week, bringing virus-related layoffs to over 26.3 million.

The Social Capital CEO has been critical of the United States' economic reaction to the Covid-19 pandemic, saying that stimulus money should go directly to consumers and workers rather than businesses.

State and local governments are warning of a wave of layoffs and pay cuts after getting left out of the federal coronavirus relief package expected to pass Congress this week.

"Even in sectors where we're not used to seeing it, we're going to have to see personal protective equipment on all employees," said Disaster Recovery Institute International CEO Chloe Demrovsky.