A Chinese delegation led by Vice Premier Liu He could be sent before month's end to iron out phase one, a source tells CNBC's Kayla Tausche.Marketsread more
"But I expect we'll have a deal," Mnuchin tells CNBC.Politicsread more
Apple will release the iPhone SE2 early next year for $399, analyst Ming-Chi Kuo says.Tech Driversread more
Sanders, who is recovering from a heart attack, reveals the new tax plan a day before the third Democratic debate.2020 Electionsread more
Morgan Stanley slashed its price target on Netflix to $400 per share from $450 per share, but kept its overweight rating on the stock.Pro Analysisread more
Wall Street analysts were largely skeptical of Trump's announcement on Friday of a substantial trade deal.Marketsread more
The Nobel Prize in Economics was awarded to Abhijit Banerjee, Esther Duflo and Michael Kremer for their research and work on tackling global poverty.Economyread more
The savings wouldn't begin until 2023, assuming the bill gets passed by the House and Senate and signed by President Donald Trump before end of this year, the CBO says.Health and Scienceread more
The ITB, the homebuilder's ETF, has its highest level since January 2018. Craig Johnson, chief market technician at Piper Jaffray, thinks there could be even more room to run.Trading Nationread more
The Treasury secretary expresses optimism that the U.S. and China have a workable first-phase agreement.Economyread more
However, that doesn't mean it won't cause harm, says Gottlieb. "You can't inhale something into the lungs on a repeated basis and not cause some damage to the lung."Health and Scienceread more
Hurricane Maria's devastation may have set back Puerto Rico's economy so much that it will now take more than a decade to recover, a prominent economist on the island said.
Puerto Rico's gross national product (GNP) could take 12 to 13 years to regain its pre-recession level, Jose Joaquin Villamil, president of Estudios Tecnicos, a business and economic consulting firm based in San Juan, told local newspaper El Nuevo Dia. Earlier this year he predicted the island's economy would continue to shrink for another eight to 10 years.
Puerto Rico's economic recession began in the spring of 2006.
Villamil also told the newspaper: "It is going to take Puerto Rico a long time to recover from this."
Maria, a Category 4 storm, left most of Puerto Rico's 3.4 million residents without electricity and water and destroyed the homes of thousands. It also took out much of the island's telecommunications infrastructure.
The island's Treasury secretary, Raul Maldonado, spoke with CNBC at the end of last week and said Puerto Rico's situation could get worse without Congress' help.
"The hurricane just drained us," Maldonado said. "The government can't get revenue" because of the infrastructure damages.
"If we don't get the help we need, this will be a national disaster," Maldonado added. "We're not looking for a handout; we're just looking for some help to get back on our feet."
Gov. Ricardo Rossello sent a letter to Congressional leaders on Saturday, asking for $4.6 billion in aid.
In the letter, he said: "We are grateful for the federal emergency assistance that has been provided so far. However, absent extraordinary measures to address the halt in the economic activity in Puerto Rico, the humanitarian crisis will deepen, and the unmet basic needs of the American citizens of Puerto Rico will become even greater."
Puerto Rico was already struggling before Maria hit, as it faced a more than $70 billion debt. The island has also been dealing with a sharp decline in population; experts fear the drop could steepen after the hurricane further exasperated its financial woes.
"You have to bring people back to Puerto Rico," said Larry McDonald, head of U.S. macro strategies at ACG Analytics. "You can't just watch the ice cube melt."
The storm, coupled with the island's economic problems, have also raised uncertainty for Puerto Rico's bondholders.
Puerto Rico's general obligation bonds plummeted last week after President Donald Trump said the debt would have to be wiped out.
"Puerto Rico bondholder recovery prospects have likely been reduced due to the devastation of the storm. Federal assistance will help in the near term, but further population declines are likely to hinder long-term economic growth," said Chad Farrington, head of municipal bond credit research at Columbia Threadneedle Investments, in a post.