Experts believe a wider spat with Europe would be much more damaging than the current tit-for-tat with China.Traderead more
After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Markets pay particular attention to Italy's spending, given its public debt pile. This stands at above 130% of its growth rate, one of the highest in the world.Politicsread more
Flight bookings to Hong Kong have fallen 10%, hit by the unrest in the city, said Alan Joyce, the chief executive of Australian carrier Qantas Airways.Airlinesread more
South Korea will scrap an intelligence-sharing pact with Japan amid an intensifying dispute over history and trade, South Korea's presidential office said on Thursday.Asia Politicsread more
Analysts generally doubt how effective the People Bank of China's latest interest rate announcement will be in significantly helping businesses grow.China Economyread more
These in-demand skills can command top pay packets, says Feon Ang of professional networking site LinkedIn.Get Aheadread more
Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace.Asia Marketsread more
The Washington governor had centered his campaign around climate change, calling it "the most urgent challenge of our time."Politicsread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Macy's disappointing holiday sales are less about the consumer and more about department stores' relevance these days, former retail CEO and Target executive Gerald Storch told CNBC on Thursday.
Macy's reported weak holiday sales and cut its 2018 earnings outlook on Thursday morning, sending its shares and others tumbling.
"Traditional department stores are fighting for their lives in an Amazon era and even if Macy's does everything right, it may not be enough, " said Storch, who was CEO of Toys R Us and Saks Fifth Avenue-parent Hudson's Bay. He was also vice chairman of Target.
That's because there has been a "massive share shift" away from department stores and into value, he said on "Closing Bell. "
That can be reflected in the performance of what he calls the "vastly larger and more significant retailers," like Target and Costco. Target said its holiday sales grew 5.7 percent, topping its 3.4 percent growth the prior year. Costco reported its sales, excluding gas and foreign exchange, grew 7 percent in the five weeks ended Jan 6.
Investors had been feeling some optimism toward Macy's heading into the holiday season. Its shares rallied more than 80 percent over a 12-month period ahead of Thanksgiving. On Thursday, its stock closed down more than 17 percent.
"Anybody who makes a living by selling somebody else's widely available product, they are not going to be able to make their margin. They're not going to be able to make a buck in this internet-driven economy," Storch said.
However, Charles O'Shea, lead retail analyst at Moody's, was more upbeat on Macy's. The firm still gives it an investment-grade rating and believes it is one of the stronger department stores.
"Macy's is in pretty good shape net-net, paying down some debt. New management has got a strategy that is going to work," he told "The Exchange " on Thursday. "What we need to do here is take a breath."
— CNBC's Lauren Thomas contributed to this report.
Disclosure: Storch owns shares of Target.