Normally, when the Fed starts loosening policy it does so amid clear-cut signs of economic weakness.Economyread more
Wall Street economists are anxiously awaiting Wednesday's FOMC meeting.Marketsread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
CNBC's Jim Cramer connects the dots by reasoning that if the president were to act he would pick a replacement for Powell that would do his bidding.Economyread more
Shoppers are "very nuanced in their expectations," Ron Johnson, the former CEO of J.C. Penney and the former senior vice president of Apple's retail division, said at CNBC's...Evolveread more
We've been given plenty of reasons to quit Facebook, including a new report that alleges disgusting working conditions at a company, Cognizant, it uses to employ contractors....Technologyread more
This just might be Fed Chair Jerome Powell's toughest meeting yet, because whatever the outcome, odds are high that it will disappoint a large group.Market Insiderread more
More and more American firms are calling for the Trump administration to resolve its conflict with China.World Economyread more
Facebook is leading the FANG stocks this year, and Miller Tabak's Matt Maley foresees more upside.Trading Nationread more
All trains traveling in and out of New York Penn Station have been halted because of an Amtrak overhead wire issue, New Jersey Transit said Wednesday.Transportationread more
American Airlines is the first major U.S. airline to order Airbus' new long-range, single aisle aircraft.Paris Air Showread more
The growing income gap is one of the top economic concerns for American millionaires, topping terrorism and the budget deficit, according to a new study.
Fully 77 percent of Americans with investible assets of $1 million or more cited the "increasing income gap between poor and wealthy Americans" as a top economic concern, according to a new study from Morgan Stanley.
That was topped only by "increased foreign conflicts (at 88 percent)," according to the study. The government budget deficit ranked third (75 percent), followed by terrorism.
The results are consistent with other surveys, and reflect a growing consensus among both rich and poor, Democrats and Republicans, that two-speed recovery has helped the wealthy while the rest of America is still struggling with low wage growth.
When it comes to their broader economic outlook, however, millionaires are fairly upbeat. More than half say their portfolios will be better within a year, and three-quarters say the national economy will be the same or better in 2015. Only one in five is concerned about retiring at their desired time, presumably because, well, they're millionaires.
When it comes to stocks, millionaires are bullish. They will have an average of 49 percent of their portfolios in stocks, with 65 percent liking dividend-bearing stocks and most like technology, biotech and pharma as their top sectors. Among their least favorite sectors are consumer discretionary, aerospace and insurance. Only a third of millionaires like international stocks and one in five like gold.
For the study, Morgan Stanley polled more than 300 millionaires, with investible assets of $1 million or more. The poll was conducted between October and December of 2014.