The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Apple has spent more than $6 billion on original TV shows and movies for its forthcoming Apple TV+ service, according to a Financial Times report on Monday.Technologyread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
"These days, the consumer is addicted to convenience ... If it doesn't have a great digital presence or incredible bargains, take a pass," Jim Cramer says.Mad Money with Jim Cramerread more
Tilman Fertitta told CNBC on Monday that he is doing things in a "very conservative way" amid fears of a recession.Marketsread more
Saudi Aramco sent a request for proposal to several banks, people familiar with the matter told CNBC on Monday.Marketsread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
U.S. retail sales rose more than expected in May as Americans bought automobiles and a range of other goods, suggesting economic growth was gaining steam despite a sharp slowdown in job creation.
The Commerce Department said on Tuesday retail sales increased 0.5 percent last month after surging by an unrevised 1.3 percent in April. It was the second straight month of gains and lifted sales 2.5 percent from a year ago.
Excluding automobiles, gasoline, building materials and food services, retail sales rose a solid 0.4 percent last month after an upwardly revised 1.0 percent increase in April.
These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product. They were previously reported to have risen 0.9 percent in April. Economists polled by Reuters had forecast both overall retail and core sales gaining 0.3 percent last month.
The fairly strong May retail sales report could see economists raising their second-quarter GDP growth estimates, which are currently around a 2.5 percent annualized rate. The economy grew at a 0.8 percent rate in the first quarter.
Tepid employment gains in May stirred concerns about the health of the economy. But so far, data on first-time applications for unemployment benefits suggests labor market strength remains intact.
In May, auto sales rose 0.5 percent after racing 3.1 percent in April. Receipts at service stations increased 2.1 percent, reflecting recent increases in gasoline prices.
Sales at clothing stores increased 0.8 percent, the largest gain since November. Online retail sales shot up 1.3 percent. Receipts at sporting goods and hobby stores jumped 1.3 percent last month. Restaurants and bars sales climbed 0.8 percent.
Sales at electronics and appliance outlets gained 0.3 percent. But sales at building materials and garden equipment stores fell 1.8 percent after declining 2.0 percent in April. Furniture store sales dipped 0.1 percent.