U.S. stock futures were poised for a second day of gains, following the official announcement of a debt and spending deal by the White House and congressional leaders.Morning Briefread more
Coca-Cola topped Wall Street's expectations for earnings and revenue.Food & Beverageread more
Boris Johnson has won a Conservative Party leadership race and will become the U.K.'s next prime minister.Europe Politicsread more
U.S. stock index futures were higher Tuesday morning after results from major companies topped expectations.US Marketsread more
Iran is pushing boundaries amid rising tensions in the Gulf, but President Trump has so far not been "compelled" to retaliate militarily, analysts say.World Politicsread more
The Trump administration on Tuesday will propose a rule to tighten food stamp restrictions that would cut about 3.1 million people from the program, U.S. Department of...Politicsread more
Two traders say Boeing's on the path to recovery.Trading Nationread more
The deal could be announced as soon as next week, according to the report.Technologyread more
The deal between the White House and Democrats was earlier expected to raise the debt ceiling for two years and permanently end the sequester.Politicsread more
Mallinckrodt Pharmaceuticals plans to separate its business into two: one with its brand-name medicines; the other with its specialty generic drugs — including ooxycodone and...Biotech and Pharmaceuticalsread more
Exchange-traded fund experts offer strategies for playing tech giants' stocks ahead of this week's earnings reports for three FANG companies.ETF Edgeread more
Essentially, the vote confirmed the worst fears of investors this year, namely that some type of unforeseen event would come along to derail an already fragile global economy. Never mind that it will take years for the British exit, or Brexit to play out: The unexpected development unwound what many on Wall Street called a "relief rally" this week predicated on the EU staying intact.
The news that the process is about to begin was enough to rattle global markets, particularly considering that investors were following the lead of polls and prediction markets and figuring the decision to leave wouldn't happen.
"The reaction we're seeing in markets today is far more exaggerated and far more pronounced because it was so unexpected," Kristina Hooper, U.S. investment strategist at Allianz, told CNBC.
Hooper said the firm conducted a survey of its institutional investors earlier this year and "what we found was event risk was one of the top risks they named for this year. I think this is a perfect example of that."
Hooper advised investors "to be opportunistic" and "not to panic."