Stocks fell sharply on Thursday as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.Marketsread more
The yield on the 10-year Treasury note fell to its lowest level since 2017 as more traders grew confident in a longer U.S.-China conflict.Bondsread more
A Ministry of Commerce spokesperson does not single out any U.S. action, but it's been a tense couple of weeks for the trade war.World Politicsread more
"For them to say that they don't work with the Chinese government is false," Secretary of State Mike Pompeo tells CNBC.Politicsread more
Facebook has stopped paying commission to staff for selling political advertisements on its platform, The Wall Street Journal reported.Technologyread more
Oil prices dropped on Thursday, extending falls from the previous session amid surging U.S. crude inventories as low refinery runs and ongoing trade tensions weighed on the...Energy Commoditiesread more
U.S. manufacturer growth hit new lows in May, the latest sign that the economic slowdown accelerated amid the ongoing trade war.Economyread more
Wall Street is under pressure, but a handful of stocks are breaking out to new highs. McDonald's, Waste Management, Hershey, Visa and Costco have notched records this month,...Trading Nationread more
No timetable has been set on returning the money to outside investors in Tepper's Appaloosa Management, source says.Hedge Fundsread more
Huawei is winning over more and more Apple fans in China as the escalated trade tensions stoked "nationalist sentiment," according to South China Morning Post.Marketsread more
Celebrity chef Mario Batali is being charged with indecent assault and battery, more than a year after admitting to sexual misconduct.Restaurantsread more
The Federal Reserve could change the calculus for markets with just two words.
The phrase "considerable time" was added to the Fed's statement earlier this year, when it wanted to reassure markets that when quantitative easing ends it would hold rates lower for longer—an eternity to stock and bond traders.
Now, the Fed's quantitative easing, or bond-buying program, is coming to an end, and the economy is improving. So Wall Street has read into recent comments of several Fed officials that the Federal Open Market Committee could drop those two words when it meets this week. It may also use the opportunity of Fed Chair Janet Yellen's press conference at 2:30 p.m. ET this afternoon to make sure the markets are hearing the right message.
"It's kind of threatening here. We've had the biggest bond market sell-off since last November/December, so it's a big deal, " said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ. "We're hanging in here at the high point. We're not backing off. The market is petrified they're going to drop the worlds 'considerable time' and yields shoot higher. I think they could."