Indian billionaire investor Rakesh Jhunjhunwala says he's very upbeat about his country's growth potential after the country underwent a massive banking crisis and the rollout...Asia Economyread more
There's more pain ahead for the U.S. and China amid their bilateral trade dispute, according to one expert.China Politicsread more
Alphabet Inc's Google said Tuesday that keeping phones up to date and secure was in "everyone's best interests," shortly after the U.S. temporarily eased some trade...Technologyread more
You know there's an underlying problem when investment firms start to cut exposure to a particular asset class.Commentaryread more
The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.The Fedread more
A record 257.4 million travelers are expected to opt for U.S. airlines for travel this summer, the 10th consecutive annual increase, a trade group forecast on Tuesday.Airlinesread more
The announcement comes amid a wave of store closures across the country this year.Retailread more
Stocks in Asia were mostly higher on Tuesday as a temporary reprieve in U.S.-China trade tensions provided a breather.Asia Marketsread more
United States Energy Secretary Rick Perry said on Tuesday that a sanctions bill putting onerous restrictions on companies involved in the Nord Stream 2 project would come in...Politicsread more
Legg Mason said on Monday it had appointed Trian Fund Management's Nelson Peltz and Ed Garden as directors, raising the size of its board to 12 members.Hedge Fundsread more
Huya, a Chinese live streaming platform focused on gaming, is looking to expand into the U.S. in the next couple of years, CEO Rongjie Dong told CNBC. The U.S. is expected to...Technologyread more
U.S. government debt yields rose on the week's first day of trading as global fears surrounding trade paused after the United Kingdom reached a compromise with the European Union.
Investors likely wrapped up their assessment of the Department of Labor's June jobs report, which showed that the economy added 213,000 positions over the month.
The yield on the benchmark 10-year Treasury note was higher at 2.858 percent at 2:54 p.m. ET, while the yield on the 30-year Treasury bond was up at 2.964 percent. Bond yields move inversely to prices.
The U.K.’s Brexit Secretary David Davis announced late Sunday that he was resigning from his post, as he wasn’t prepared to be “a reluctant conscript” to Prime Minister Theresa May’s plans to leave the European Union (EU). May reached a Brexit compromise with her cabinet on Friday, persuading ministers to back her intention to press for “a free trade area for goods” with the EU.
British foreign minister Boris Johnson resigned later on Monday, the second high-profile departure from the pro-Brexit coalition.
The compromise appeared to give global markets a lift Monday as some on Wall Street viewed the U.K.'s decision as softer than expected, tempering lingering fears about a trade war between the United States and fellow economic powerhouse China.
The U.S. placed on Friday, a move that triggered China to hit back with its own set of duties.
Washington's 25 percent duties affect products such as water boilers, X-ray machine components, airplane tires and various other industrial parts. China immediately responded with $34 billion in tariffs on U.S. goods, including soybeans, pork and electric vehicles. Beijing called it the "biggest trade war in economic history."
"I think the market has been in a trade-off over the past few weeks between strong economic data and trade worries," said Arthur Bass, managing director of fixed-income financing, futures and rates at Wedbush Securities. "What’s really been boosting the Treasury market is this whole fear of trade sanctions. We all studied the Smoot-Hawley tariffs in Econ 101 and the market has been feeling a little bit of uncertainty."
"While the economy is strong here is the U.S., it’s not as strong in Europe," he added, referencing the latest employment report from the Department of Labor.
Markets have been given a boost following the publication Friday of the latest jobs report, which revealed that the U.S. economy added 213,000 jobs in June, beating expectations. Along with June's upside surprise, the Bureau of Labor Statistics revised April's jobs numbers up to 175,000 from 159,000 and May's to 244,000 from 223,000, a total of 37,000 more than initially stated.
Though the unemployment rate ticked higher to 4 percent, the rise was likely due to a rise in the labor force participation rate, which increased 0.2 percentage points to 62.9 percent as 601,000 people re-joined the labor force.
On Monday, consumer credit data is due out at 3 p.m. ET.
In central banking news, Minneapolis Fed President Neel Kashkari is expected to appear at the two-day Homeownership in Indian Country: Creating the Opportunity for Choice conference in Prior Lake, Minnesota.