The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
Federal Reserve districts reported moderate to modest economic growth, according to the central bank's latest Beige Book report.
The report also noted wage pressures due to skilled labor shortages, including for truck drivers in New York, construction workers in Atlanta and energy workers in Dallas.
Consumer spending growth was slight to moderate in most districts, with auto sales leading the expansion. Two districts, Philadelphia and Dallas, reported sales falling back, though.
Read MoreFed: Consumers 'hoard' money
Many districts also reported record high crop yields, with according declines in certain agricultural commodity prices.
"Reports from the twelve Federal Reserve Districts indicated that economic activity has expanded since the previous Beige Book report; however, none of the Districts pointed to a distinct shift in the overall pace of growth," the report said.
Taken as a whole, the details keep in step with the Fed narrative—that economic progress remains on a steady track that is nonetheless not strong enough to be maintained without extremely accommodative policy. That is coming in the shape of short-term interest rates kept near zero and a monthly bond-buying program expected to end in October.
The Fed has been watching for signs of employment growth—wages in particular—as well as signs that inflation is gaining. However, the Beige Book states that the trends in all three categories "were relatively unchanged" during the two-month reporting period. It noted only "greater wage pressures reported in sectors where shortages of skilled labor persisted."
Among individual districts, the Fed noted that San Francisco area consumers "appeared more optimistic about the recovery," though New Yorkers were "mixed" while the Cleveland and Richmond districts "indicated that consumers were being conservative in their discretionary spending."
The report cited strong back-to-school sales in various districts, while San Francisco, at the core of technology growth, reported strength in electronics. Along those lines, the report cited "robust demand for software products" in Boston
Tourism also showed gains, as "most reporting districts indicated optimism about future activity levels, with Boston, Richmond, and San Francisco reporting strong advance hotel bookings through the fall." Richmond noted "an early arrival of the peak import season."
Housing gains appeared fairly limited, though multi-family construction was reported high in Boston, New York and Dallas.
Banking activity also improved, with loan growth seen across all Fed districts.
This is breaking news. Check back for updates.
For the full report, go here.