More and more American firms are calling for the Trump administration to resolve its conflict with China.World Economyread more
Normally, when the Fed starts loosening policy it does so amid clear-cut signs of economic weakness.Economyread more
Target CEO Brian Cornell apologized to customers for a disappointing weekend after the company experienced outages that shut down its cash registers and credit-card processors...Retailread more
American Airlines is ordering Airbus' new A321XLR, according to a source familiar with details of the agreement.Paris Air Showread more
Companies are increasingly willing to pay for employees to go to the doctor. Uber is partnering up with Grand Rounds, a start-up that sells into the employer channel, to make...Technologyread more
Apple's iOS 13 update, which will be available in the fall for iPhones, will let Siri read your text messages to you through your AirPods. Here's how to set it up.Technologyread more
Huawei CEO Ren Zhengfei tells CNBC the company's business is still strong in China.Technologyread more
Here are the biggest calls on Wall Street on WednesdayInvestingread more
The pilots union for Southwest Airlines says it will ask Boeing for compensation to cover legal costs and lost income for pilots due to the 737 Max grounding.Airlinesread more
Amazon announced an all-new Kindle Oasis on Wednesday morning with a feature that lets you adjust the screen to warmer tones for easier reading at night.Technologyread more
But BlackRock's global fixed income chief also says he doesn't think the Fed will announce a rate cut until July.Market Insiderread more
As long as there's still hope that Washington can deliver tax reform this year, investors can look past President Donald Trump's fractured relationship with corporate America over his response to Saturday's deadly white nationalist rally in Charlottesville, Virginia, said The Lindsey Group's chief market analyst.
"The market and the economy do not care about Trump's personality. They will only start to care if it starts to influence the policies that they are hoping for," Peter Boockvar told CNBC's "Squawk Box" on Thursday, a day after two White House CEO advisory councils were disbanded.
"Until they know whether tax reform is going to be kicked to next year because of his political issues now, they're not going to care," he contended.
House Ways and Means Committee Chairman Kevin Brady said Wednesday on CNBC that he's still focused on passing a tax reform package despite tensions over the Charlottesville fallout.
But after saying the day before that tax reform would happen this year, Brady said Wednesday that he's learned "not to pick certain dates." But he added, "2017 is our year to deliver."
A delay in tax reform, including proposed cuts in corporate taxes, would hurt the stock market, Boockvar said. "The Fed is still raising interest rates, tightening in this moderate economy. We need an offset."
The Federal Reserve meets again in September and November. But no rate hikes are expected after those meetings. But the probability of a rate increase at the December meeting was around 48 percent, according to the CME FedWatch tool on Wednesday. The Fed has increased the cost of borrowing money four times starting in December 2015 after about seven years of near-zero percent rates.
"In order to continue this expansion, you need some tax relief and some stimulus kick," Boockvar explained. "Do you put it into extra innings because of tax reform? Yes."
But he said, "The odds are shrinking."