Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
"Federal debt, which is already high by historical standards, is on an unsustainable course," CBO director Phillip Swagel said in the report.Politicsread more
Target CEO Brian Cornell still thinks the U.S. consumer is strong and spending. Target's latest quarterly results showed the big-box retailer is benefiting from that.Retailread more
"If you look at the market over the past week, stocks don't need any help. They are roaring ahead, without the Fed doing anything," says the longtime market strategist.Marketsread more
Stocks rose on Wednesday as strong quarterly results from retailers such as Target and Lowe's lifted investor sentiment.US Marketsread more
President Trump insists the economy is healthy and says the only thing holding U.S. growth back is the Federal Reserve.Marketsread more
Trading volumes this week are well below recent averages, and that means this comeback may be suspect.Marketsread more
The rule could defy a 2015 Flores Settlement Agreement court order that says families cannot be held in detention for more than 20 days.Politicsread more
A key indicator for the commercial real estate market is showing signs of weakness, and uncertainty in the economy over the trade war and interest rates may be to blame.Real Estateread more
Bank of America CEO Brian Moynihan is not worried about an economic slowdown, saying the U.S. consumer is still in a strong place.Banksread more
In a second-round of tweets aimed at the U.S. central bank, the president asked, "WHERE IS THE FEDERAL RESERVE?"Marketsread more
As California starts handing out its first fines to water-wasters, new data reveals the state's crippling drought conditions have never been worse.
As of Tuesday — the same day the stricter restrictions went into effect — more than 58 percent of the state was in an "exceptional drought" stage, according to the latest U.S. Drought Monitor map.
That's a drastic jump from just a week earlier when about 36 percent of the state was suffering under exceptional drought, meaning there's widespread crop and pasture losses and shortages of water in reservoirs, streams and wells. In comparison, there were no areas in California categorized as extreme at the beginning of the year even amid a three-year dry period.
The drought report, released Thursday by the National Drought Mitigation Center, warned that bone-dry conditions have now spread farther into Northern California. Overall, the state is "short more than one year's worth of reservoir water, or 11.6 million acre-feet, for this time of year," the report said.
The drought that began three years ago has also "nearly depleted" the state's topsoil moisture reserves. These tinderbox conditions have only exacerbated the wildfire season this year. Meanwhile, residents caught hosing sidewalks or driveways or excessively watering their lawns can now be slapped with a $500 fine.
—By Erik Ortiz, NBC News