The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
Congress' top two Democrats canceled plans Tuesday to attend an Oval Office meeting after President Donald Trump tweeted that he could not envision a fiscal deal to avoid a government shutdown.
"Given that the President doesn't see a deal between Democrats and the White House, we believe the best path forward is to continue negotiating with our Republican counterparts in Congress instead," Senate Minority Leader Chuck Schumer and House Minority Leader Nancy Pelosi said in a joint statement. "Rather than going to the White House for a show meeting that won't result in an agreement, we've asked Leader McConnell and Speaker Ryan to meet this afternoon."
In response to the cancellation, Ryan and McConnell issued a joint statement accusing the Democratic leaders of "antics" and finding "new excuses not to meet with the administration to discuss these issues."
White House Press Secretary Sarah Huckabee Sanders said the invitation "still stands, and [Trump] encourages them to put aside their pettiness, stop the political grandstanding, show up and get to work."
Trump's tweet raised the prospect of a potentially disastrous government shutdown.
The purpose of the meeting was to begin urgent negotiations to pass a federal budget and spending plan before the government runs out of funding on Dec. 8. Republicans are insisting that as part of any deal, caps on military spending be lifted. Democrats are expected to use their leverage to demand policy protections for the so-called immigration Dreamers and a reauthorization of the Children's Health Insurance Program.
The trouble with Trump's inability to see "a deal" is that Republicans cannot pass a federal spending bill without Democratic votes in the Senate, where a 60-vote majority will be needed to move the bill forward. In the House, Republicans have needed Democratic votes in recent years to pass spending bills, because the GOP caucus' most conservative members have refused to support the bills.
This gives Democrats far greater leverage in these negotiations than they have on tax reform, for instance, where Republicans can pass a bill with a simple majority in the Senate and near-unanimous support from House Republicans.
Even if a deal is reached at the 11th hour, the prospect of a government shutdown could rattle financial markets. In the event that a shutdown were to occur, the results would likely be disastrous for Republicans heading into the 2018 midterm elections.
The last shutdown, in October 2013, lasted 16 days and cost the economy more than $1 billion a day, according to most estimates.