Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
"Sure, the trade war's taking its toll on business ... it's just not taking its toll where it was supposed to," Jim Cramer says.Mad Money with Jim Cramerread more
Joe Biden called on President Donald Trump Friday to release the transcript of a call with a foreign leader that is the subject of a whistleblower complaint. Biden described...Politicsread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
Palantir Technologies is targeting a valuation of at least $26 billion in a private fundraising round, the first for the Peter Thiel-backed data analytics startup in four...Wall Streetread more
Michael Pack, a conservative filmmaker linked to Steve Bannon, saw at least $1.6 million in donations from his nonprofit sent into the coffers of his independent production...Politicsread more
The New England Patriots released Antonio Brown just 11 days after signing the wide receiver. The NFL Super Bowl champion team initially had kept him in the face of a rape...Sportsread more
The stock market is expecting a President Clinton or Trump to usher a big fiscal stimulus through Congress as investors are bidding up equities, which stand to benefit the most from increased government spending and lower taxes.
Bank of America Merrill Lynch crunched the data, separating out the stocks leveraged to big government versus those that are not. But the firm is not recommending clients buy these stocks further, instead telling them to prepare for eventual disappointment when these stimulus plans ultimately fall short of the big expectations.
"Both presidential candidates have outlined fiscal policies which should promote growth," Bank of America Merrill Lynch's Savita Subramanian said in the note to clients this week. "But the benefits from stimulus have meaningfully worked their way into these stocks already."
With the number of media mentions of "fiscal stimulus" up to 2009 levels, Subramanian is wary of theme saturation and is "cautious on the market in the near-term" as result of high valuations. Tobacco, leisure products, diversified financials, building products and utilities stocks have more than 20 percent downside if they revert to historical valuation multiples, according to the strategist.