A surface-to-air missile shot down a U.S. military drone over the Strait of Hormuz, a U.S. official said Thursday.World Politicsread more
President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
China's President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move...Asia Politicsread more
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The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Waymo has signed a deal with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Asia, including China, the...Autosread more
It's crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven.World Politicsread more
"No U.S. drone was operating in Iranian airspace today," a U.S. Central Command spokesman said, according to NBC News.World Politicsread more
The Fed left interest rates unchanged at its monetary policy meeting. The U.S. central bank did, however, drop the word "patient " from its statement and said it would "act as...Asia Marketsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Tony Dwyer of Cannacord Genuity said that with the recent sell-off, the market is "inappropriately beginning to discount a recession" despite strong economic indicators.
In an interview with CNBC's "Fast Money " on Thursday, Dwyer said that a fall in the markets should have been expected, since there has been "historically low volatility" and "historically high complacency" lately.
Dwyer, known as one of the biggest bulls on the Street, acknowledged that recent declines were caused in part by "excessive bullishness."
However, Dwyer said he is not deterred by the sell-off, especially since business leaders have been "universally saying, 'We don't have issues in credit.'"
"I'm a permabull when credit's good; I'm a permabear when credit's bad," Dwyer said.
He is watching volatility to determine when the markets will emerge from their slump. "You want to see the VIX not go back up to 28 when you retest or even slightly break the low, " Dwyer said.