Huawei CEO Ren Zhengfei laid out plans to bring more efficiencies to the organization. This included simplifying the reporting structure, cutting down on surplus staff, axing...Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
Chinese overseas investment growth will likely slow or even decline in the next few years as risks around the world increase, according to new research by Moody's Investors...China Economyread more
The two countries want to smash the civil aerospace duopoly enjoyed by Airbus and Boeing.Aerospace & Defenseread more
Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing, Reuters reported.Technologyread more
Federal Reserve Chairman Jerome Powell is set to deliver his annual speech on Friday at the Jackson Hole, Wyoming symposium, where he's expected to provide more clarity on the...Asia Marketsread more
U.S. and Asian investors poured $3.7 billion into U.K. tech start-ups in the first seven months of 2019, research shows.Technologyread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
Whether the market's thrashing on Friday was sharp or devilish comes down to a quarter point.
The Dow Jones industrial average ended its first tumultuous week in a year by suffering a pullback of more than 2.5 percent. It closed down 665.75 points.
Cue all the headlines and splashy photos with devil references by market watchers who rounded the closing figure up to 666.
Even CNBC went with the 666 figure after some internal debate.
So, what's in a quarter of a point? That sliver of rounding, seemingly minuscule in a market that topped 26,000 just last month, actually means a lot in the age of electronic trading.
Computers and preset algorithms are running lots of trades, and many are built to react when the market hits specific levels. So different elaborate mousetrap actions kick in at 665.75 than might be triggered at 666.
As CNBC markets writer Fred Imbert will tell you as he's trying not to blink while watching the Dow when it's up 99.9 points, he can't change his markets headline to reference 100 points until it's official — no rounding allowed.
This time, though, the temptation of headlining a market gutting of — nearly — 666 points was too much to resist.