In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
AT&T isn't focused on selling or divesting DirecTV, despite pressure from stakeholder Elliott Management, sources tell CNBC.Technologyread more
The measure to keep the government running through Nov. 21 now heads to the Senate, where McConnell has signaled he will back a temporary spending plan.Politicsread more
Amazon's purchase comes as part of its plan to convert its delivery fleet to 100% renewable energy by 2030. The e-commerce retailer already runs 40% of its fleet on renewable...Autosread more
As part of the plan, Amazon has agreed to purchase 100,000 electric delivery vans from vehicle manufacturer Rivian.Technologyread more
Apple's iOS 13.1 will be released on Sept. 24, six days earlier than previously announced.Technologyread more
Hedge fund titan Leon Cooperman said he's concerned about a shift to the left in the political landscape, which could harm the economy and the stock market.Delivering Alpharead more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and apply those discounts to private health plans.Health and Scienceread more
The move could bring a welcome salve to farmers caught in the crosshairs of the trade war if it results in a reopening of the market.Politicsread more
The pilot program will deliver food and beverage, over-the-counter medications and other items within minutes, the company said. Prescription deliveries will not be available.Health and Scienceread more
President Donald Trump on Monday escalated his attacks on the Federal Reserve in a Christmas Eve tweet, claiming the central bank doesn't "have a feel for the Market," and "the only problem our economy has is the Fed."
Trump has been complaining for months about Fed monetary policy, claiming rising interest rates are putting a brake on his economic plans. The president has also reportedly discussed firing Fed Chair Jerome Powell because of his frustration with stock market losses in recent months, although in a tweet Saturday, Treasury Secretary Steven Mnuchin quoted Trump as saying "I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so."
Stocks have been in a downward spiral with the Dow and S&P 500 down more than 12 percent this month — on track for their worst December performances since the Great Depression in 1931.
The Fed last week raised its benchmark interest rate a quarter-point, the fourth increase this year and the ninth since it began normalizing rates in December 2015. It came despite Trump's tweets urging against rate hikes. Two days earlier, he said "it is incredible" that "the Fed is even considering yet another interest rate hike."
The stock market deepened its rout after the Fed's rate hike and its decision to let its massive balance sheet shrink at the current pace. Market participants had hoped the central bank would slow its pace of rate hikes, and they worry the rate cuts are slowing the economy too fast.