Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
Powell stresses the central bank's independence in a speech that comes amid continuous pressure from the White House to cut interest rates.The Fedread more
The trade war between Beijing and Washington appears to have depressed Chinese property purchases in the United States. China's own actions may also be playing a role.Real Estateread more
Stocks in Asia were set to open lower on Wednesday after Federal Reserve Chairman Jerome Powell tempered expectations for a potential interest rate cut.Asia Marketsread more
In a text message, Grisham confirmed to CNBC that she will still be working for the first lady even as she takes on her new roles.Politicsread more
Acting Customs and Border Protection Commissioner John Sanders is resigning amid the furor over the Trump administration's treatment of migrant children.Politicsread more
NBC is taking the office back from Netflix as it seeks to bolster its own streaming service launching in 2020.Technologyread more
Wayfair employees plan to walk out tomorrow, after no action was taken in response to their opposition to the company supplying border detention camps with beds for children.Retailread more
Micron beat analyst estimates on earnings and revenue for its fiscal third quarter of 2019.Technologyread more
Omarosa Manigault Newman, who had been a senior advisor to President Donald Trump before her firing, was sued for allegedly failing to file required financial disclosures.Politicsread more
Nobel–winning economist Robert Shiller told CNBC on Wednesday "I'm nervous" about Donald Trump, but said there's no doubt the president-elect's personality has ignited widespread excitement about future prosperity.
"Sometimes that nervousness can go along with optimism," the Yale professor said on "Squawk Box." "I didn't vote for Trump. So we've got him. Let's hope for the best. He might do something good."
Shiller, who literally wrote the book on "Animal Spirits," said the nation has "never had a president" like Trump. His whole persona is "live big, live large" and that's aspirational for many Americans, Shiller said.
The term "animal spirits," the title of the 2009 book co-authored by Shiller, is used to describe the intangibles that psychologically drive excitement on Wall Street or in a particular sector, such as housing.
Shiller, co-creator of the S&P Case/Shiller home prices index, said Trump is a "motivational speaker" with a "tremendous self-confidence" that's contagious.
"We're going to see big changes," predicted Shiller.
The Trump-driven rally in the stock market since Election Day may very well spill over into the housing market, even with the expectation of higher interest rates, Shiller said.
To make his case, he pointed to the trend that mortgage rates bottomed out in 2012, but home prices moved higher anyway, and there's no reason that can't continue.
Shiller said the economy that President Barack Obama is leaving for Trump looks "strong," though largely on the back of historically low rates by the Federal Reserve, which raised the cost of borrowing for only the second time in a decade in December.