Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
The lack of clarity surrounding the U.S.-China trade war is what's really hitting global growth, says ex- Deputy Treasury Secretary Sarah Bloom Raskin.World Economyread more
China's economy has long relied on factors such high levels of investments and an expanding labor force for growth. Those growth drivers are running out of steam.China Economyread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
New crash tests show the Tesla Model 3 and the Audi e-tron, are among the safest models out on the road. The results bolster the theory electric vehicles may be better...Autosread more
U.S. consumers and growth in sectors such as technology have offset declines in other American industries, says Tom Finke, chairman and CEO of investment management firm...US Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
Last weekend's attacks on oil facilities — and the spike in crude prices that followed — should show that the world needs to stop relying on oil, says Helen Clark.Energyread more
The photo depicts Canadian leader Justin Trudeau wearing a turban and robe, with dark makeup on his hands, face and neck. Liberal Party spokesman confirms the photo is of...Electionsread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
Apple's move to ax device unit sales from future earnings reports is not "all that troubling" as the tech giant builds on its services segment and long-term goals, portfolio manager Timothy Lesko told CNBC on Tuesday.
"In order to do that, they really need to stop focusing so much on iPhone and focus on the rest of the businesses," the partner at Granite Investment Advisors said on "Squawk Alley."
Apple has drawn criticism for cutting iPhone, iPad and Mac unit sales from its reports, which will start in December. Following Thursday's announcement, shares dropped about 9.5 percent, and two Wall Street analysts had downgraded the stock by Monday.
Lesko acknowledged that the unexpected announcement would "cause a concern on the Street" in the short run.
"That's going to provide a few quarters of volatility," Lesko said.
But he remains bullish on the stock in the long run as Apple begins to focus on the service business along with its consumer products.
"A pullback in the stock gives you an opportunity, if you didn't already own it, to either add positions or build on them," Lesko argued.
The stock is up slightly as of midday trading Tuesday.
"The stock is up 20 percent year to date," he said, "and it's trading at a discount to the market. So it's not exactly priced to perfection at this point."