The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread 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
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
– This is the script of CNBC's news report for China's CCTV on August 26, Friday.
Welcome to CNBC Business Daily, I'm Qian Chen.
The risk to markets Friday is that Fed Chair Janet Yellen simply sounds more ready than markets expect to raise rates for the second time in 10 years.
That would trigger a sell-off in stocks, snap Treasury yields out of their slumber, pressure gold and pound on the dollar.
But many strategists and economists say more likely is that she will sound dovish, and the reason may be that she will choose to address a more wonky academic question about long-term Fed policy rather than talk about what the markets want to hear.
At the same time, the Fed's mixed messages, internal conflicts and pondering of longer-term issues have confused markets, and if she doesn't sound more confident on the economy, that may also create a backlash in the markets.
The Fed has said it could raise rates twice this year, but the market barely expects one hike, at its December meeting.
The speech at Jackson Hole is perhaps one of the more widely anticipated chairman speeches outside of the financial crisis for the Kansas City Fed's annual symposium.
It comes at a difficult time for the central bank, a time when market participants question the credibility of the Fed and doubt that global central bankers have any more fire power to fix the global economy. It's also a tricky time for the Fed, which could also easily find itself a political football during a contentious election year.
The topic of the conference is "Designing resilient monetary policy frameworks for the future" and Yellen's specific topic is, "The Federal Reserve's monetary policy toolkit." The Fed chair is expected to walk carefully between a dialogue about the Fed's policy tools and the current economic environment without tilting toward any current policy discussion. Yellen's speech will not be televised, nor is she expected to take questions following it.
Stocks Thursday were lower, with the S&P 500 down 2 points to 2,172. The dollar was lower against a basket of currencies, and Treasury yields rose across the curve, most prominently at the lower end. The two-year was at 0.78 percent, and it is the most reflective of Fed rate hike expectations.
CNBC's Qian Chen, reporting from Singapore.