Rising home prices and conservative borrowing have today's homeowners sitting on a record amount of potential cash. Today's mortgage holders saw their home equity increase by...Real Estateread more
Stocks have been grinding sideways, but technical analysts say once they breakout, the move to the upside could be powerful.Market Insiderread more
Shareholders are accusing Tesla of improperly valuing the SolarCity deal, providing flawed analysis and misleading investors, among other things. Their allegations were...Technologyread more
Stocks were barely changed. American Express gained, but Netflix was a notable laggard.Marketsread more
The probe by the U.S. attorney's office of the Northern District of California is in its early stages, the Journal reported, citing people familiar with the matter.Health and Scienceread more
The fresh round of cuts is on top of an estimated 4,500 temporary layoffs GM and its suppliers handed out to employees as of Friday.Autosread more
Here are the most important things to know about Tuesday before you hit the door including earnings from Nike and likely updates on Trump's trade deals.Marketsread more
The Mac Pro is the only major Apple computer to be assembled in the United States. Most of Apple's products, including the iPhone, are assembled in China and are facing tariff...Technologyread more
Think about the last TV show you recommended to a friend, or the last one that was recommended to you. Odds are, it was from a premium service like HBO, Netflix or Amazon.Entertainmentread more
SpaceX is deep into development of its Starship rocket, with recent updates from CEO Elon Musk showing the first one under construction.Investing in Spaceread more
The new wireless earbuds, codenamed "Puget," are expected to come with an accelerometer and be able to monitor things like the distance run, calories burned, and pace of...Technologyread more
The positive feelings driving strength in the stock market and the economy could disappear if any of the geopolitical trouble spots were to heat up, Starwood Capital's Barry Sternlicht said Wednesday.
He also cited the wranglings in Washington over tax reform as another layer of unpredictability.
"It feels like the ocean is full of money. But it feels like it could be yanked at any moment," the global investor and real estate specialist said on CNBC's "Squawk Box," citing North Korea or Syria as wildcards.
Whether President Donald Trump and GOP leaders on Capitol Hill can deliver on tax reform this year is also adding to uncertainty, said Sternlicht, co-founder, chairman and CEO of Starwood Capital, which has $55 billion in assets under management. And that uncertainty is manifesting itself in lower property transaction volumes as sellers wait to see if they might get to keep more of their capital gains a few months from now, he said.
Sternlicht said he's even put off projects within his own business for a quarter or so.
The White House and Republican House and Senate leaders are aiming to simplify and cut taxes on Americans and businesses by the end of the year.
"I think they will get something done. I just not don't think they'll get it done this year," Sternlicht said.
In a tweet Wednesday, Trump prodded lawmakers to "move fast" on taxes.
Sternlicht said he supports tax cut efforts but "you can't do tax reform in a tweet."
Treasury Secretary Steve Mnuchin on Tuesday made the case for tax changes, telling the CNBC-Institutional Investor Delivering Alpha conference that the administration is considering backdating tax reform to the beginning of 2017. Sternlicht said he was pleasantly "shocked" by the prospect of backdated tax cuts.
But the passage of tax reform depends on balancing the expected benefits to the economy and how to pay for it, he said.