President Donald Trump said Iran may have seized two tankers in the Strait of Hormuz Friday, after Iran's Revolutionary Guard says it seized one and there were news reports of...World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
More than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed's meeting at the end of the month.Market Insiderread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
Executives from United Airlines and American Airlines were "shocked" that state-owned airline Qatar Airways CEO Akbar Al Baker was also invited to the meeting, according to a...Airlinesread more
Earlier this week, a lawyer said Jeffrey Epstein, a former friend of Presidents Donald Trump and Bill Clinton, had "improper sexual contact" with at least one woman under the...Politicsread more
Walmart is making further organizational changes as it continues to integrate its store and digital operations and leadership, according to a memo obtained by CNBC that was...Retailread more
George Nader helped arrange a January 2017 meeting in the Seychelles between Erik Prince and the head of Russia's sovereign wealth fund, who reported directly to Vladimir...Politicsread more
These are the stocks posting the largest moves midday.Market Insiderread more
"I'm not hearing people blame the Fed as much as they're blaming tariffs," says CNBC's Jim Cramer.US Economyread more
U.S. consumer prices moderated in November, but the underlying trend continued to point to firming inflation pressures amid rising rents, which could support more interest rate increases from the Federal Reserve next year.
The Labor Department said on Thursday its Consumer Price Index rose 0.2 percent last month as gasoline price increases slowed and food costs remained soft. The CPI advanced 0.4 percent in October.
In the 12 months through November, the CPI increased 1.7 percent, the biggest year-on-year gain since October 2014. The CPI rose 1.6 percent in the year to October.
Economists polled by Reuters had forecast the CPI rising 0.2 percent last month and climbing to 1.7 percent from a year ago.
The so-called core CPI, which strips out food and energy costs, rose 0.2 percent last month after edging up 0.1 percent in October. Rents accounted for most of the increase in the core CPI last month. Despite the increase, the year-on-year increase in the core CPI was unchanged at 2.1 percent.
The Fed on Wednesday raised its benchmark overnight interest rate by 25 basis points to a range of 0.50 percent to 0.75 percent, in what Chair Janet Yellen said was "a vote of confidence in the economy."
The U.S. central bank forecast three rate hikes in 2017 in anticipation of U.S. President-elect Donald Trump's expansionary fiscal policy agenda aimed at boosting growth through infrastructure spending and tax cuts.
The Fed has a 2 percent inflation target and tracks an inflation measure which is currently at 1.7 percent.
The central bank noted that inflation had increased since "earlier this year" and expected it to rise to its target "over the next couple of years." Trump's proposed fiscal policy would come when the economy is at full employment and fans inflation.
Last month, gasoline prices rose 2.7 percent after jumping 7.0 percent in October. Food prices were unchanged for a fifth straight month. Food consumed at home declined for a seventh consecutive month.
Within the core CPI basket, housing continued its upward march in November. Rents increased 0.3 percent last month, with owners' equivalent rent of primary residence also gaining 0.3 percent after a similar rise in October.
The cost of medical care services rose 0.2 percent after being unchanged for two straight months. The cost of doctor visits increased 0.6 percent, while prices for prescription medicine fell 0.6 percent. The cost of hospital services slipped 0.1 percent.
There were increases in the prices of a range of other goods last month including used cars and trucks, which rose for the first time since February. The cost of motor vehicle insurance increased 1.0 percent.