"We are now embarking on a new Long March, and we must start all over again!" Xi Jinping said.Marketsread more
U.S. aviation officials believe a bird strike may have led to the deadly crash of an Ethiopian Airlines Boeing 737 Max in March, according to a person familiar with the...Aerospace & Defenseread more
Sales of existing U.S. homes fell 0.4% in April compared with March to a seasonally adjusted annualized rate of 5.19 million units, according to the National Association of...Real Estateread more
The move, which was expected, has set up an early legal test of the president's strategy of fighting off congressional oversight by rejecting the legitimacy of subpoenas he...Politicsread more
"Let me be clear: this committee will hear Mr. McGahn's testimony, even if we have to go to court to secure it," Nadler said.Politicsread more
Morgan Stanley analysts said the reduction was driven by concerns around Chinese demand for Tesla products.Autosread more
The Fed should take its cues from falling bond yields and lower short-term interest rates, says conservative economist Art Laffer.Economyread more
Leuthold Group's Jim Paulsen sees a silver lining as the U.S.-China trade war rattles the market.Trading Nationread more
The FDA struck the wrong balance on its oversight of the e-cigarette industry, former commissioner Scott Gottlieb said Tuesday at CNBC's Healthy Returns conference.Healthy Returnsread more
Coca-Cola is partnering with Netflix to bring back New Coke to promote the third season of "Stranger Things."Food & Beverageread more
For every 5% drop in Greater China sales, Apple's earnings per share should fall about 15 cents, Credit Suisse tells clients.Investingread more
Financial stocks need more than President Donald Trump's promises of banking deregulation and Federal Reserve signals of higher interest rates to continue their postelection rally, influential banking analyst Dick Bove told CNBC on Tuesday.
Dispelling the first of what he calls "urban myths" about banking, Bove countered conventional wisdom — saying the Dodd-Frank Wall Street Reform law, which was put into effect after the 2008 crisis, won't be repealed or modified in favor of the big institutions.
Secondly, Bove argued in a "Squawk Box" interview that banks won't be able to hold on to the earnings boost they get from higher interest rates. The hole in the bottom of the piggy bank, as he described it, would be that higher rates would also hurt the value of financial assets held by the bank, thus leaking out any benefits from increasing borrowing costs.
These scenarios put banks at risk for volatility, said Bove, vice president of equity research at Rafferty Capital.
But Bove does see a saving grace for the sector, in the success of Trump's policies to boost the economy. Stronger economic growth would allow banks to build profits in the longer run by igniting lending activity, which has been strained since the Great Recession.