Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.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
President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
"Sure, the trade war's taking its toll on business ... it's just not taking its toll where it was supposed to," Jim Cramer says.Mad Money with Jim Cramerread more
Joe Biden called on President Donald Trump Friday to release the transcript of a call with a foreign leader that is the subject of a whistleblower complaint. Biden described...Politicsread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
Palantir Technologies is targeting a valuation of at least $26 billion in a private fundraising round, the first for the Peter Thiel-backed data analytics startup in four...Wall Streetread more
Michael Pack, a conservative filmmaker linked to Steve Bannon, saw at least $1.6 million in donations from his nonprofit sent into the coffers of his independent production...Politicsread more
The New England Patriots released Antonio Brown just 11 days after signing the wide receiver. The NFL Super Bowl champion team initially had kept him in the face of a rape...Sportsread more
A tour bus carrying Chinese-speaking tourists crashed near a national park in southern Utah, killing at least four people and critically injuring up to 15 others, authorities...U.S. Newsread more
Action by Turkey's banking regulator has stymied investor ability to buy and short the lira, helping the currency to gain value in overnight trade.
The Banking Regulation and Supervision Agency (BRSA) has reduced the amount of swap market contracts that offshore banks can undertake, reducing their access to the beleaguered currency.
A swap is where on flow of cash income, usually a fixed or steady rate, is swapped for a typically riskier flow of income. The derivative contract is set for a fixed period.
The BRSA has stipulated that banks now cannot run swap contracts for no more than 25 percent of the equity that they hold. The figure was previously 50 percent.
BlueBay Asset Management strategist Timothy Ash said in a note Wednesday that Turkey's central bankers had finally taken action to restrict international access to lira.
"They are killing offshore TRY (lira) liquidity to stop foreigners shorting the lira," he said before adding "why did they not do all this much earlier?"
In reaction the lira jumped as much as 7.3 percent to 5.883 per dollar but has since lost value again and at around 5:40 a.m. eastern was sitting at 6.086 per dollar.
This year the dollar has gained more than 60 percent in value versus the lira, and the Turkish currency has become the world's worst performer this year.
The run on Turkish currency rout has affected the country's bond market. The yield on 10-year sovereign debt has risen near to 20 percent, making it much more expensive for the Ankara government to borrow.
Overnight Turkey announced increased tariffs on U.S. products, raising duties on American alcohol to 140 percent, autos to 120 percent and tobacco to 60 percent.
Tariffs were also doubled on cosmetics, rice and coal.