"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
CNBC's Jim Cramer says Morgan Stanley cutting its worst-case forecast on Tesla so drastically from $97 per share appears to be a gimmick.Investingread more
The Time's Up Legal Defense Fund, the American Civil Liberties Union and fast-food workers coalition Fight for $15 said Tuesday that they have filed 23 new complaints against...Restaurantsread more
U.K. Prime Minister Theresa May has offered lawmakers a vote on whether to have a second Brexit referendum if they approve her withdrawal agreement.Europe Marketsread 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 says.Politicsread more
Morgan Stanley analysts said the reduction was driven by concerns around Chinese demand for Tesla products.Autosread more
Speaking with CNBC's Jim Cramer from the "Healthy Returns" conference in New York City, Novartis CEO Vas Narasimhan says cannabis is "not a focus" for the pharma company.Healthy Returnsread more
Japanese automakers say they generated more than 1.6 million jobs in the U.S. at manufacturing plants, dealerships and suppliers. Of those jobs, more than 94,000 people are...Autosread more
The recent bull market isn't a "Trump rally," but a reaction to a global economic recovery, two experts told CNBC's "Squawk Alley " on Friday.
The recovery has led to increased earnings, driving up stock prices, Krishna Memani, chief investment officer at OppenheimerFunds, explained.
Jim Paulsen, chief investment strategist at Wells Capital Management, agreed. He argued that the magnitude of the "Trump effect" has been overstated.
"I really think that the market is much much less dependent upon Trump policies than people have made it out to be," Paulsen said. "I really think this is more about the synchronization of global economic growth, the broadest evidence of recovery hitting more corners of the globe than ever before."
It's not that President Donald Trump hasn't impacted the market, but that the effect has been minimal, Memani said. What the market needs from Trump — and what Memani contends it hasn't seen — is solid policy.
"Trump and his colleagues are talking about [making policy], but we haven't really seen anything," he said. "And the likelihood of that is going down by the day based on the cacophony of things that you hear from all of the policymakers."
Even if Trump does get his proposals through, both analysts agreed that Trump's policy won't really benefit the market. Paulsen said the tax and regulation cuts could help the financial sector, but that's the end of the good news.
"I think the rest of it becomes more problematic for Wall Street," he said. "I think, for example, a massive infrastructure spending program could be looked at as inflationary at a full[y] employed economy and getting into healthcare seems like it could be gridlock."
The overall outlook, Memani said, is that the market will continue to respond to a growing world economy, with little help from the White House.
"Even if you get tax reform and the Fed tightens and the dollar goes up, the impact of that on earnings and growth is actually not going to be that significant, " he argued. "What we need is a fiscal expansion. What we need is deficit spending, and it doesn't look like we're going to get it today."