Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
The hearing will now begin next Monday to allow time for the completion of a previous trial that revolves around former 1MDB unit SRC International, a Kuala Lumpur High Court...Asia Newsread more
Stocks have endured a rough year, but they may not fall into a bear market just yet, widely followed hedge fund manager Leon Cooperman said Friday amid a sell-off in U.S. equities.
"I'm not selling. I'm holding on because I do believe this is a growth scare and not a bear market," the billionaire CEO of Omega Advisors said on CNBC's "Fast Money: Halftime Report."
Major U.S. averages all fell around 3 percent on the day amid a plunge in oil prices and a string of disappointing economic data, including retail sales and industrial production. Both U.S. and Brent crude traded below $30 per barrel on Friday.
While he noted that recent economic data show a "soft spot," Cooperman contended that a bear market, marked by sustained selling, would look imminent with mounting signs of a recession. However, trends in job creation and unemployment do not show a coming recession, he said.
"I'm of the view that the market is going down to be bought," Cooperman said.
He also contended that stocks have not reached a level of overvaluation that would lead to a bear market.
Still, Cooperman admitted that he has been "too optimistic" about the markets. But he cautioned that BlackRock CEO Larry Fink's outlook that stocks could fall another 10 percent from Friday's premarket levels may be too pessimistic.
Cooperman also said that 1,825 to 1,850 on the , slightly lower than where the index traded Friday, could prove to be a crucial level. He will also watch trends in the high-yield credit markets, which are "something to be concerned about."
Recent market uncertainty has tempered expectations for how quickly the Federal Reserve will normalize interest rates. The central bank had suggested it could hike as many as four times this year, after it raised rates in December for the first time in more than nine years.
On the day the Fed's policymaking committee voted to hike rates in December, Cooperman told CNBC that stock markets could handle policy tightening. Since then, though, markets have endured a rocky start to 2016, with the S&P falling nearly 9 percent so far.