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 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
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
Supreme Court Justice Ruth Bader Ginsburg has completed a three-week course of radiation therapy for cancer, the top court said in a statement Friday.Politicsread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them to find alternatives to their Chinese operations.Marketsread more
Lowe's is vying for a category of customer that Home Depot has traditionally dominated — the professional contractor.Retailread more
Epstein, a former friend of Presidents Donald Trump and Bill Clinton, was arrested by FBI agents in New Jersey in early July as he stepped off his private plane, which had...Politicsread more
Every day seems to bring another round of tumbling global stock markets, but at least one country's shares are jumping.
Iran's stock market is having a big week, up 5 percent — despite plunging oil prices — after international economic sanctions against the country were lifted over the weekend.
The Tehran Stock Exchange is still down almost 40 percent from its peak in January 2014, but now that sanctions related to Iran's nuclear program have evaporated, market-watchers inside the Islamic Republic are seeing the money pour back in.
CEO Ramin Rabii of Turquoise Partners, one of Iran's largest brokerage firms, described the mood among investors as "euphoric."
"Stocks picked up this week, clearly in anticipation of money from outside the country flowing into stocks," he said. Turquoise Partners actively manages 90 percent of all foreign money that flows into Iran's stock market. Most of that money comes from Europe and the Middle East.
The fund is focused mainly on Iran's commodity sector and consumer stocks. "Because commodities are out of favor right now, we are concentrating on the potential of the Iranian consumer," said Rabii, who makes investing decisions for Turquoise.
The firm has holdings in Iran's pharmaceutical and telecom sectors. Turquoise is also keeping an eye on Iranian banks and financial stocks as banking sanctions melt away.
Rabii said he's surprised by the media attention that is often so concentrated around Iran's oil sector. While the low price of oil is certainly hurting the country's economy, it has less of a effect on the Tehran Stock Exchange. Because the state owns many of the oil companies, they are not listed on the exchange.
However, with oil trading at multiyear lows in the high $20s per barrel, much of the world's attention in financial markets is indeed focused on Iran's energy industry. If Iran floods world oil markets with more crude oil, those already low oil prices are very likely to drop further.
The chief working theory in the oil market now is that Iran will soon start producing 3.3 million barrels per day — 500,000 more than the 2.8 million barrels the country currently produces, most of which goes to buyers in Asia.
Rand Corp. senior economist Keith Crane said he agrees that Iran is capable of quickly putting another 500,000 barrels into the market but believes the country needs substantial Western financial and technological investment to do much more than that.
Either way, he said, oil will have only a marginal impact on Iran's economy and stock market. "Ending sanctions promises to ease impediments to importing products and collaborating with Western partners," he said. "That opens opportunities for increased profits."
Though nuclear sanctions against Iran are easing, the United States still has other sanctions in full force against Iran for human rights abuses, ballistic missile production and the country's support for terrorism. So while Rabii says "the Iranian stock market is cheap, valuations are great," American investors still will not be able to put money into Iran as they can in other emerging markets.