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
The U.S. government on Monday temporarily eased some trade restrictions imposed recently on China's Huawei, a move that sought to minimize disruption for the telecom company's...Technologyread more
You know there's an underlying problem when investment firms start to cut exposure to a particular asset class.Commentaryread more
Stocks in Asia mostly recovered in Tuesday afternoon trade as investors cheered a reprieve in U.S.-China trade tensions surrounding Chinese telecommunications giant Huawei.Asia Marketsread 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
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
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
Mall owners are increasingly building out food halls with local chef-driven eateries, sushi bars and premium coffee shops.Retailread more
While Trump's lawyers had argued that the committee's subpoena did not have a legitimate legislative purpose — and was therefore invalid — Mehta took a broader view.Politicsread more
European stocks closed higher Tuesday afternoon as investors monitored global trade tensions and the latest batch of corporate earnings.
The pan-European Stoxx 600 closed 0.6 percent higher with all major bourses and most sectors in positive territory.
Europe's autos stocks were also among the top performers, ending the session 1 percent higher thanks to earnings news. The sector had been trading up by an even greater margin earlier in the day. German auto supplier Schaeffler reported a rise in first-half net profit and increased its 2018 revenue guidance for its industrial division. Shares of Schaeffler pushed higher during Tuesday's trade to close 8.3 percent higher, topping the Stoxx 600.
U.K.-based Standard Life Aberdeen also had a strong day; the insurer and asset manager's shares closed up 4.8 percent. Though the firm's first-half pre-tax profit fell 12 percent, the early start of a share buyback program boosted its stock.
At the other end of the spectrum, Europe's technology sector closed 0.3 percent lower, dragged down by French IT services provider Atos. Its stock ended trade over 10 percent lower.
Meanwhile, Commerzbank posted stronger-than-anticipated net profit in the second quarter on Tuesday. But the lender warned of higher costs to its corporate clients this year amid "intense competition." It was the poorest performing bank in the sector, with shares ending the session 1.5 percent below the flat line.
Shares of Danish jewelry maker Pandora slumped to the bottom of the European benchmark after it slashed its guidance for 2018. The company now expects revenue to increase between 4 and 7 percent in local currency this year, having previously expected between 7 and 10 percent. Pandora's latest profit warning comes just a few months after the firm revised its mid-term targets. Shares of the Copenhagen-listed stock tanked to close 24 percent down at the end of the day.
The S&P 500 rose 0.4 percent to 2,860.37 with energy and financials outperforming. The Dow Jones Industrial Average gained 150 points as Caterpillar climbed more than 1 percent. The Nasdaq Composite advanced 0.3 percent as Facebook, Netflix and Alphabet all rose at least 1 percent.
Trade tension continues to loom over markets. China Daily, the official newspaper controlled by Beijing, said on Tuesday that President Donald Trump's claim to winning the ongoing trade war between the two due to a fall in Chinese stocks was "wishful thinking." China's two largest bourses, the Shanghai composite and the Shenzhen composite, have lost a quarter of their value since the start of the year.