The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
President Trump and Apple CEO Tim Cook have had a rocky relationship in recent years, but Trump is now complimenting the executive publicly.Technologyread more
Here's what Nordstrom reported in their fiscal second-quarter earnings.Retailread more
Apple's move into banking could break a key relationship point between customers and wireless carriers such as Verizon and AT&T, according to MoffettNathanson.Marketsread more
Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battleThe Fedread more
President Donald Trump signed a memorandum on Wednesday to automatically cancel the student loan debt of disabled veterans. More than 25,000 service members will have their...Personal Financeread more
Reps. Rosa DeLauro, D-Conn., and Lucille Roybal-Allard, D-Calif., say they sent a letter to Homeland Security and the Department of Health and Human Services seeking answers.Health and Scienceread more
Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
"Federal debt, which is already high by historical standards, is on an unsustainable course," CBO director Phillip Swagel said in the report.Politicsread more
The major purge of the Kingdom's elites was described as an anti-corruption drive by state officials, although outside observers suspected the exercise could be part of a broader movement by Crown Prince Mohammed bin Salman to consolidate domestic power.
Either way, the purge is likely making investors see Saudi assets as riskier, so they're set to demand higher returns.
"It depends what your timeline is. If your timeline is next week and you're looking to invest next week then I would say this probably shouldn't be welcome," Michael Stephens, a research fellow at U.K. think-tank the Royal United Services Institute, told CNBC on Monday.
Saudi's bin Salman has previously vowed the Kingdom will return to ", " as Riyadh continues to push ahead with sweeping cultural and economic reforms.
Some believe the extraordinary purge is an attempt by bin Salman to consolidate his power by eliminating potential rivals. And that may herald political uncertainty, tension and possibly unrest not seen before in the history of OPEC's biggest oil producer.
"Whatever way you look at it, Saudi Arabia had a massive, great big wall in front of it. It had a population bubble, it had an unemployment problem and it was not doing really that much to solve any of these things," Stephens said.
"Now what you might say is if you make an omelet then Mohammad bin Salman had to break a few eggs, and so if you are looking at the medium to long-term, actually it doesn't look so bad."
The crown prince is currently undertaking the mammoth task of rapidly transforming Saudi Arabia's economy. The Kingdom aims to raise about $100 billion by taking a portion of its state oil giant Saudi Aramco public next year. The funds will underwrite an effort to diversify the nation's economy through a plan called Vision 2030.
—CNBC's Sri Jegarajah and Reuters contributed to this report.