Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread 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
Amazon, Apple and Microsoft are in a tight race for the title of world's most valuable public company. The three have tossed around the title over the past few trading days, each closing with a market cap over $860 billion. Microsoft surpassed Apple in market cap on Friday, only for Apple to overtake it again on Monday. Amazon briefly eclipsed both companies during intraday trading Monday. As of Monday's close, Apple took the lead with a market cap of $877 billion. Amazon followed at $866 billion, then Microsoft with $860 billion.
The horse race between these tech giants has intensified as the tech sector has seen an upswing from October declines and following the White House's announcement of a 90-day trade truce with China on Saturday. The stocks have been closely watched since August, when Apple became the first publicly traded company in the U.S. to reach $1 trillion in market cap. About a month later, Amazon reached the same milestone before markets closed, ending the day just below the $1 trillion mark.
Microsoft's lead on Friday marked a significant shift in the tech sector, as the company hasn't closed a year in the top seat since 2002 and has not been the most valuable tech stock since 2010. While Apple and Amazon had been the two front-runners by market cap size, recent setbacks at the companies have given Microsoft a leg up. The company has seen its value more than triple since Satya Nadella took over as CEO from Steve Ballmer in February 2014, as Nadella has accelerated the company's transition into cloud-based services and allowed other parts of the business to take priority over the Windows PC operating system.
Since Apple announced on its fourth-quarter 2018 earnings call that moving forward it would no longer disclose iPhone unit sales, investors have worried the company is getting ready for a significant drop-off in sales of its flagship product.
Amazon saw a similar sell-off after delivering weak guidance in its third-quarter 2018 earnings report. The company expected $2.1 billion to $3.6 billion in fourth-quarter operating income, well below Street estimates of $3.9 billion for the quarter that spans the holiday season.
Both companies have rebounded with the market and the pause in trade tensions with China. On Monday, Amazon closed up 4.9 percent and Apple was up 3.5 percent.