The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Apple has spent more than $6 billion on original TV shows and movies for its forthcoming Apple TV+ service, according to a Financial Times report on Monday.Technologyread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Tilman Fertitta told CNBC on Monday that he is doing things in a "very conservative way" amid fears of a recession.Marketsread more
Saudi Aramco sent a request for proposal to several banks, people familiar with the matter told CNBC on Monday.Marketsread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
Leaked documents from Google give fresh ammo to conservative lawmakers who have already accused Google and other tech companies of political bias.Technologyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
The game has changed in the last year or so, with markets now driven by politics instead of central banks, according to a strategist at a widely followed investment group.
Christopher Wood, an equity strategist at investment group CLSA, said Tuesday that central banks have been the key driver of markets in the last decade, and the "great thing" about them was that they were "doing their best to be entirely predictable."
Speaking to CNBC's Akiko Fujita at the 2018 CLSA Investors' Forum in Hong Kong, he said: "In the last 12 to 18 months, the game's changed. The central banks are no longer the key driver ... the key driver is politics."
"The risk but also the opportunity is that politics are much less predictable than the central banks," he added. "The only chart I have relating to politics was on Donald Trump's popularity."
This year, there have been several geopolitical developments, such as the U.S.-China trade tensions, as well as U.S. pressure on North Korea to denuclearize, which included a meeting between U.S. President Donald Trump and North Korean leader Kim Jong Un.
On the rapid growth in the U.S. economy, Wood said the cyclical momentum may have peaked last quarter, but not before having an "extraordinary impact."
"The dominant phenomenon in the markets this year is the extraordinary impact on the U.S. stock market and the U.S. economy ... driven by U.S. corporate tax cuts, which has been dramatic. You can see the surge in earnings ... the collapse in corporate tax revenues ... the dramatic surge in small business confidence ... and most spectacularly, you can see it in the surge in share buybacks," he said."
In the first quarter alone, multinational enterprises brought home about $300 billion of the $1 trillion held abroad, according to a recent Federal Reserve study. A good chunk of that went to share repurchases. For the top 15 cash holders, some $55 billion was used on buybacks, more than double the $23 billion in the fourth quarter of 2017.
Goldman Sachs economists predicted that the total buybacks from all companies in 2018 could exceed $1 trillion.
— CNBC's Jeff Cox contributed reporting to this story.