Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recessionUS Marketsread more
The Business Roundtable, a group of CEOs of nearly 200 major U.S. corporations, gave a new definition of the "purpose of a corporation."Marketsread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
J.P. Morgan says investors should remain guarded for the rest of August and wait until next month before buying stocks again.Marketsread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Wild market swings claimed plenty of victims last week, but Cornerstone Macro's Carter Worth says Home Depot is poised for a big breakout.Options Actionread more
The conglomerate's head of investor relations released a more detailed statement about accounting practices under fire from Harry Markopolos.Marketsread more
Goldman notes that high-dividend payers are trading at their largest valuation discount in nearly 40 years.Marketsread 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. Commerce Secretary Wilbur Ross said the U.S. will extend a reprieve given to Huawei that permits the Chinese firm to buy supplies from U.S. companies.Politicsread more
Amid the headlines of stores closures and retail bankruptcies, it can be tough to accept that the U.S. consumer is doing just fine.Retailread more
More than 60 military aircraft are involved in the Harvey disaster response effort, and the Navy is making preparations to send ships.
At the same time, Texas Gov. Greg Abbott activated all of the state's National Guard, resulting in about 12,000 troops available in the state. There also are troop units from other states, including Arizona, California, Nebraska, New Mexico, New York, Kentucky and Oklahoma, among others.
The U.S. Air National Guard also has aircraft and troops assisting in urban search and rescue efforts in Houston, the nation's fourth largest city. The National Weather Service is forecasting more rain and river flooding for the next few days from what is now a mega tropical storm.
"Continuing rainfall from the hurricane is expected to cause devastating and life-threatening flooding throughout this week," Army Col. Robert Manning told the media in a briefing Monday.
The state and federal response to the disaster also includes emergency supplies, including food, water, medical and other supplies. President Donald Trump is scheduled to visit Texas on Tuesday to see some of the damage firsthand.
The U.S. Coast Guard, which operates under Department of Homeland Security, had at least 20 helicopters operating earlier in the day in the greater Houston area and reported that air and ground teams had rescued more than 1,450 people by 2 p.m. ET.
"The Coast Guard is continuing to work with all federal, state and local agencies for rescue operations in the Houston area," Vice Adm. Karl Schultz, commander, Coast Guard Atlantic Area, said in a release. "We have pulled assets and resources from across the country to create a sustainable force."
Added the commander, "This is a united effort that is still in the early stages and we are focused on the safety of those in the affected area and saving lives."
Overall, more than 60 aircraft are assisting in the Harvey effort. Among other assets going to the relief are:
The U.S. Corps of Engineers also has extensive resources on the ground in Texas to help deal with the Harvey crisis, including crews to conduct controlled releases of water from swollen reservoirs.
Finally, at least two Navy amphibious ships were making preparations late Monday to respond to the disaster. It's also possible the Navy will move other ships into the area, but government sources said nothing was finalized.