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
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread 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
Retail sales in 2018 are now forecast to climb higher than what had been expected thanks to U.S. tax reform and other upbeat economic indicators, according to an industry trade organization.
Spending at retailers — excluding automobiles, gasoline stations and restaurants — is predicted to climb at least 4.5 percent, the National Retail Federation said Monday, giving an updated outlook for the remainder of the year. That's compared with a prior forecast range of 3.8 to 4.4 percent.
"Higher wages, gains in disposable income, a strong job market and record-high household net worth have all set the stage for very robust growth in the nation's consumer-driven economy," NRF President and CEO Matthew Shay said in a statement. "We knew this would be a good year, but it's turning out to be even better than expected."
Still, there is uncertainty around a trade war with China that could impact retail spending, the group said. President Donald Trump has proposed additional tariffs on $200 billion in goods from China, which would include a mix of consumer items. The proposal is expected to be finalized next month, following a public comment period.
"Despite this upgrade in our forecast, uncertainty surrounding the trade war and higher-than-expected inflation due in part to increased oil prices could make consumers cautious during the fall season," NRF Chief Economist Jack Kleinhenz said Monday.
Retail sales for the first half of 2018 were up 4.8 percent from a year earlier, NRF said. In the most recent three-months moving average, they have climbed 4.4 percent year over year.
Major retailers including Home Depot, Walmart and Macy's are set to report quarterly earnings this week, which will offer looks at how these companies feel ahead of the all-important holiday season. So far, earnings reports from luxury retailers like Michael Kors and Louis Vuitton owner LVMH have been better than Wall Street was anticipating.
Amazon's annual Prime Day in July is believed to have pulled the back-to-school shopping season even earlier, prompting retailers like Target, J.C. Penney and Kohl's to roll out deals sooner in the summer. The e-commerce giant said this year's Prime Day was its largest yet.