Stock futures fell sharply as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.US Marketsread more
A Ministry of Commerce spokesperson does not single out any U.S. action, but it's been a tense couple of weeks for the trade war.World Politicsread more
Tesla was set for its seventh straight day of losses after more analysts joined the growing list of those concerned with its finances.Investingread more
"For them to say that they don't work with the Chinese government is false," Secretary of State Mike Pompeo tells CNBC.Politicsread more
Appaloosa's David Tepper has reportedly discussed returning the hedge fund's capital to investors and converting it to a family office.Hedge Fundsread more
Huawei is winning over more and more Apple fans in China as the escalated trade tensions stoked "nationalist sentiment," according to South China Morning Post.Marketsread more
With Tesla shares skidding, two experts weigh in on what could be next for the automaker and its volatile stock.Trading Nationread more
U.S. tariffs on Chinese goods are hurting an unintended target as the country's trade war with China rages on, a study by the International Monetary Fund found.Marketsread more
Papa John's founder John Schnatter has been selling his shares in the company but remains its largest shareholder.Restaurantsread more
First-time claims for state unemployment benefits were expected to total 215,000 for the most recent week, up slightly from the 212,000 claims reported for the previous week.Economyread more
U.S. Secretary of State Mike Pompeo joined CNBC's "Squawk Box" on Thursday.Energyread more
House Speaker Paul Ryan on Wednesday vowed only that lawmakers would raise the debt ceiling before the country actually hits it — an event that would plunge financial markets into turmoil if it occurred and shake confidence in U.S. Treasurys, long considered one of the safest investments in the world. Ryan did not rule out the possibility of tying debt limit negotiations to broader debate of the 2018 budget.
"I'm not foreclosing any option at this time," he said.
Treasury Secretary Steven Mnuchin has repeatedly called for a so-called clean bill (one without spending-related strings attached) that lawmakers could pass before August. Since March, the Treasury has used extraordinary measures to meet its debt obligations. Many analysts believe that authority will be exhausted around October.
But in recent congressional testimony, budget director Mick Mulvaney said that deadline could come several weeks sooner, because tax receipts are coming in more slowly than expected. And in a meeting between senior White House staff and conservative groups last month, officials warned that the deadline could even occur during the summer, according to two people with direct knowledge of the discussion. Mnuchin has not commented on any timing shift, instead emphasizing that Congress should act by August.
Several lawmakers have signaled that they are not in a rush, however. House Ways and Means Chairman Kevin Brady of Texas said that August was "a good timetable to work toward" but lawmakers are still hashing out details.
"I think we should listen to our members — as we are — about what they want to see in this discussion on raising the debt limit, both from a timing standpoint, the length of it, and obviously whether there are some savings and efficiency reforms that should be part of the discussion," he told reporters Tuesday.
Majority Leader Kevin McCarthy punted questions about the debt ceiling to Mnuchin on Tuesday, after a meeting between President Donald Trump and Republican leadership at the White House. He did not reference a deadline for raising the limit.
"We didn't have a set date on that," McCarthy said. "So I will leave that to him."
The House Freedom Caucus has already made its position clear: The group of conservative lawmakers supports Mnuchin's request for action before August but said that any increase must be paired with spending cuts.
In recent years, debt ceiling debates have roiled Washington, and lawmakers already have a packed agenda, including negotiations over the repeal and replacement of the Affordable Care Act and ongoing investigations over White House officials' ties to Russia.
Lawmakers have only about six legislative weeks left to clear their plates. On Tuesday, the Freedom Caucus took a position on that, too: It called for canceling the August recess.