Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
Democrats want Mueller's testimony on his probe into Russian interference in the 2016 election and Trump's efforts to influence it.Politicsread more
The trade war between Beijing and Washington appears to have depressed Chinese property purchases in the United States. China's own actions may also be playing a role.Real Estateread more
Tesla CEO Elon Musk sent out another email to his employees, pushing them to aim for a record number of vehicle deliveries to end the second quarter of 2019.Technologyread more
More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
Powell stresses the central bank's independence in a speech that comes amid continuous pressure from the White House to cut interest rates.The Fedread more
The Senate is expected to pass its own version of the border aid legislation, while the Trump administration has threatened to veto both bills.Politicsread more
Markets in Asia fell on Wednesday morning after U.S. Federal Reserve Chairman Jerome Powell tempered expectations for a potential interest rate cut.Asia Marketsread more
The purchase confirms Apple's continued interest in self-driving car software, and it will bolster Apple's engineering ranks with additional employees who can build autonomous...Technologyread more
More than 1,000 protesters marched to major foreign consulates on Wednesday calling on leaders at the upcoming G-20 summit to raise the plight of Hong Kong with China and to...World Politicsread more
In a text message, Grisham confirmed to CNBC that she will still be working for the first lady even as she takes on her new roles.Politicsread more
Just over a week since Hurricane Harvey brought enormous damage to the Gulf region, meteorologists are watching another weather system that could possibly reach the U.S. and wreak even more havoc.
Irma, a storm system is currently hovering in the Atlantic Ocean, and is expected to strengthen over the Labor Day weekend, The Weather Company's senior meteorologist Dan Leonard told CNBC's "On The Money " in a recent interview.
"It's actually a Category 3 storm right now. If that happens to get in the Gulf of Mexico, it's unlikely, but if it does we'll be looking at some really significant problems next week and beyond," Leonard said. Several observers say Irma has the potential to grow into a Category 5 storm.
Leonard said he's been giving his forecasts to traders and, "they're really, really concerned about another potential hit into the Texas or Louisiana region going forward."
While Hurricane Katrina had 17 inches of rain, Harvey dumped more than 51 inches of rain on beleaguered Houston. Still, the death toll has been comparatively lower: Katrina caused 1,833 deaths, while Harvey has resulted in at least 41 deaths.
"The really important takeaway here is even though we had a lot more death toll in New Orleans, this flood hit a much bigger economic center of the U.S, and I think that's really what we're going to feel as repercussions go."
Estimates of Harvey's economic toll are high and rising: This week, research from Fundstrat suggested uninsured losses could easily top $200 billion, while Accuweather estimated Harvey's toll could easily top $190 billion—more than Katrina and 2012's Sandy combined.
Weather Company's Leonard said it was the flooding that made Harvey different from other hurricanes, including Hurricane Katina in 2005. "We had big flooding in Katrina, but that was largely caused by that levy breach" that devastated New Orleans.
Right now, Hurricane Harvey is impacting gas prices modestly as refineries in the region have been taken offline. However, Leonard warned a "25 to 30 cents or so" increase won't be the only price hike.
"We're obviously paying more, not just at the gas pump, but remember the refining process also makes other products: It makes jet fuel, it makes petroleum products like plastics," Lee said. "So I think overall you're going to be looking at higher prices pretty much everywhere across the board."
On the Money airs on CNBC Saturdays at 5:30 am ET, or check listings for air times in local markets.