Weak week for stocks | Public companies keep emergency funding | How low can travel spending go?

FRI, APR 24, 2020

EVENING BRIEF

AS OF FRI, APR 24, 2020 • 04:45 ET

DJIA		23775.27
		+1.11%	+260.01

S&P 500		2836.74
		+1.39%	+38.94

NASDAQ		8634.52
		+1.65%	+139.77

Most Active

DOW
NAME	LAST	CHG	%CHG
INTC	59.26	+0.22	+0.37%
BA	128.98	-8.76	-6.36%
MSFT	174.55	+3.13	+1.83%

S&P 500
NAME	LAST	CHG	%CHG
GE	6.26	-0.26	-3.99%
AMD	56.18	+0.28	+0.50%
AAL	10.31	+0.06	+0.59%

NASDAQ
NAME	LAST	CHG	%CHG
AMD	56.18	+0.28	+0.50%
AAL	10.31	+0.06	+0.59%
INTC	59.26	+0.22	+0.37%

EDITOR'S NOTE

Stocks began the week with a historic decline in oil prices and ended the week with a loss, even as oil began to recover.

Equities rose Friday, but the Dow Jones Industrial Average and finished with a weekly loss of nearly 2% and the S&P 500 was down more than 1% for the week.

Hopes that the economy would reopen in April have faded with the imminent approach of May. "The market is getting used to the fact that maybe it's going to be late May, maybe June," said Daniel Deming, managing director at KKM Financial. "So the question underneath this market is whether there is enough stimulus."

So far, distributing the stimulus has been messy with publicly traded companies getting funds that many thought were intended for small business. The public, the Treasury and the Small Business Administration are pressuring these companies to give the money back.

CNBC reporters contacted 41 of the biggest publicly traded companies that took out Paycheck Protection Program loans to see if they would return the funds. Six said no, five said yes and 30 either didn't respond or said their decision was pending.

Guidelines discouraging publicly traded companies came after the emergency funding program launched.

"Policymakers rushed back and said 'If you're public you don't qualify,'" said Bruce Davis, CEO of Digimarc, a Beaverton, Oregon, tech company. "They're not thinking of us: It's getting oversimplified and in a crude manner that will be a disservice to companies like mine."

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