Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Tesla solar panels ignited at an Amazon warehouse in Redlands, California in June 2018, Bloomberg reports. The news comes days after Walmart sued Tesla for at least 7 fires...Technologyread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
After three rough weeks on Wall Street, the stock market could lose another 10 percent from current levels before rocketing higher--at least if technicals are any indicator, a stock market observer told CNBC on Monday.
Last week, the index fell to "some pretty critical levels," including the 200-day moving average and reactionary low of 1,904, Jeffrey Saut, managing director at Raymond James, said on "Squawk Box. " But the index was "very oversold on a short term basis." he added.
"It's a logical place to try and rally here. I think it's a bull trap," Saut said. "I think we get a rally attempt here, but I think eventually stocks go lower, but it should be viewed within the context of a secular bull market that has eight to 10 years left in it."
Saut, who began his career on a New York trading desk in 1971, pointed to other tailwinds for the market. Lower gas prices, for example, will likely boost holiday shopping sales, he said.
"The forces forward are too powerful: the energy independence, the manufacturing revival, oodles of creativity in this country and a bunch of capital on the sidelines," he said. "I think we're in a secular bull market that has years left to run."
To Jeremy Siegel, a professor of finance at the University of Pennsylvania's Wharton School, lower energy prices will boost consumer spending and help push stocks higher. In fact, Siegel reiterated his call that the Dow Jones industrial average could finish the year at 18,000. Don't hold your breath waiting for that 10 percent correction, though, Siegel said.
"The market will trick the majority of the people most of the time. So those people that are waiting for that 10 percent correction, which we haven't had in two, three years, I think are going to be disappointed," Siegel said on "Squawk Box." "If we do get it, I think it's a great long-term entry position. I think a year or two from now you're going to be happy you own stocks."
Tobias Levkovich, chief U.S. market strategist for Citigroup, shared Saut's bullish view. It seems "there are animal spirits kind of rebuilding in the corporate sector," Levkovich said on "Squawk Box."
From improved hiring intentions to accelerating capital spending and the slew of recent mergers and acquisitions, CEOs appear to be getting more confident about the economy, he said.
Levkovich said he doesn't care whether stocks dip 10 percent or not—he'll continue to buy regardless.