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
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread 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
Donald Trump is "right on" about the economy, Carl Icahn told CNBC on Tuesday, claiming the "Archie Bunkers of the world" will support the real estate tycoon after his pledges to cut taxes across the board.
"If he sticks with that economic theme, he should definitely win hands down, because I don't know why you wouldn't vote for him," Icahn said in a phone interview with CNBC's "Fast Money: Halftime Report. "
Trump, the billionaire developer, unveiled his economic vision in a markedly controlled speech Monday following a week of sagging polling and clashes with the family of a fallen Muslim-American soldier and fellow Republican leaders. Icahn said he did not defend Trump's remarks about the Khan family, calling them a "mistake."
But he contended that Trump should win if he courts middle class voters amid a perceived government "war" with business.
The activist investor said he could not understand why "the Archie Bunkers of the world" wouldn't support Trump, because "they know they're getting screwed." Archie Bunker was a fictional bigoted working class character in the 1970s sitcom "All in the Family." Icahn, who has supported Trump's presidential bid, said he did not have any bad intent by likening Trump supporters to the character. Trump has drawn the ire of many, but emboldened others, with statements about immigrants, Muslims and women throughout the election.
"Archie Bunker is a middle class guy, somewhat educated even, that doesn't know where his next check is coming to send his son or daughter to school, doesn't know if he's going to keep his job. ... Why the hell should he vote for a system that is not giving him a good paying job?" Icahn said.
In his speech Monday, Trump said he wants to create three income tax brackets of 33 percent, 25 percent and 12 percent, cutting the top rate from its current level of nearly 40 percent. He also called for lowering the corporate tax rate to 15 percent for all businesses and encourage companies to stay in the United States. He claims such an effort will create "millions of good-paying jobs."
One analysis of a previous version of Trump plan, which trimmed income taxes even more, said it could increase the federal deficit by $10 trillion over a decade. His proposals have also received criticism for potentially helping the wealthy more than the working class.
Icahn was also left off of Trump's recently announced economic advisory team. Trump picked mostly investors and businessmen, some of whom have donated to his election effort, to advise him.
Icahn said he is developing a possible political action committee and would not have been able to do so if he worked with Trump's campaign.