The Fed cut interest rates by a quarter point, but it also reaffirmed its rate cut was meant to serve as insurance for the economy.Market Insiderread more
Clayton was the opening speaker at the Delivering Alpha conference, presented by CNBC and Institutional Investor.Delivering Alpharead more
Investors are asking how the world's third-largest defense spender could have left itself so vulnerable and what that means for the future.Politicsread more
The presidential campaign is "going to be very tough," the former chief White House strategist.Politicsread more
AT&T is not considering a split with its DirecTV unit at this time, people familiar with the situation tell CNBC.The Faber Reportread more
"The market all of the sudden has broken out into a behavior that seems much more rational in September than it did in August," National Securities' Art Hogan says.Trading Nationread more
The former CEO of Overstock announced that he's dumped all of his equity and blamed both the "deep state" and the government for his exit.Marketsread more
Gelson's, an upscale grocery store chain with 27 locations across Southern California, will sell 12-ounce packages of the Impossible Burger.Food & Beverageread more
The new rules come after recent disclosures by some players about their mental health battles — before and during their NBA careers.Health and Scienceread more
The Candytopia and Toys R Us partnership will open in late October in Chicago and Atlanta. The exhibits will stay open through the 2019 holidays, before moving on to different...Retailread more
Steel stocks jumped Thursday after a report President Donald Trump said he is considering quotas and tariffs on steel imports to the U.S.
"There are two ways — quotas and tariffs. Maybe I'll do both," Trump said Wednesday evening, according to excerpts of his conversation with reporters on Air Force One. The transcript was made available Thursday afternoon.
"Not only China, but others. We're like a dumping ground [for steel], okay?" Trump said. "They're dumping steel and destroying our steel industry, they've been doing it for decades, and I'm stopping it. It'll stop."
US Steel 2-day performance
Many on Wall Street upgraded the steel stocks in anticipation of a tougher U.S. announcement on foreign steel producers, in favor of the U.S. firms.
"President Trump's comment today about quotas and tariffs on steel and the positive response across steel stocks suggests more upside ahead when an official announcement is made by the Commerce Department," Jim Strugger, managing director, derivatives strategist, at MKM Partners, told CNBC in an email Thursday. "We're suggesting that clients get long or longer here."
On Wednesday, Strugger noted in a report to clients that MKM was seeing unusual bullish activity in options for stocks such as AK Steel.
To be sure, the U.S. government hasn't made an announcement on steel tariffs yet. In late April, Trump directed the Commerce Department to investigate whether steel dumping threatens U.S national security. A report on those findings has been delayed, and the steel industry still awaits an official decision.