Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
After taking a blow in their first major policy effort, Republicans quickly signaled they will move on to a plan to broadly chop taxes, another potentially daunting goal.
Following the defeat of his key priority — replacing the Affordable Care Act — President Donald Trump signaled he still has faith in the Republican-controlled government's ability to push his agenda. Quickly shifting focus from their bill's failure, GOP leaders said they wanted to start working to overhaul the U.S. tax code, the prospect of which has helped to fuel the business community's optimism for Trump's presidency.
"I would say that we will probably start going very, very strongly for the big tax cuts and tax reform. That will be next," President Donald Trump told reporters in the White House after the GOP failed to rally enough support to pass its health-care plan in the House.
House Republicans on Friday yanked their bill to repeal and replace the ACA, popularly known as Obamacare, just before a planned vote that Trump had demanded. At least 34 Republicans from across the ideological spectrum signaled that they could vote against the plan, according to an NBC News tally, leading the GOP to pull it.
The president said Republicans fell "just a small number of votes short." After the plan's failure, both he and House GOP leaders who championed the bill said their focus would shift to taxes.
House Speaker Paul Ryan said Friday's health-care "setback" makes the prospect of tax reform more difficult but not "impossible."
"Yes, this does make tax reform more difficult. But it does not, in any way, make it impossible. We will proceed with tax reform," the Wisconsin Republican told reporters Friday.
Trump said the inability to garner enough votes for the proposal did not make him lose faith in Ryan.
"I like Speaker Ryan. He worked very, very hard," he said.
Rep. Kevin Brady of Texas, chairman of the House Ways and Means Committee, said in a statement he is "moving full speed ahead with President Trump on the first pro-growth tax reform in a generation."
The House Republican tax plan calls for major cuts to business rates and broad income-tax reductions. It remains to be seen if the GOP will be able to pass true tax reform or just tax cuts.
Treasury Secretary Steven Mnuchin repeated his pledge Friday to push for "comprehensive" tax reform by Congress' August recess.
Ryan said he spoke with Trump, Mnuchin and White House economic advisors about tax reform on Friday.