The U.S. is showing signs of targeting China's domestic surveillance and the tech supporting it.Technologyread more
Pro-EU parties are set to hold onto two-thirds of the seats at the EU Parliament.Europe Politicsread more
The projected result comes shortly after Conservative Party leader Theresa May announced her resignation as prime minister on Friday morning.Europe Politicsread more
A Beijing decision to rapidly and sharply cut its excessive and unsustainable trade surplus with the U.S. would change for the better the bilateral relationship, writes...World Economyread more
Investors are largely focused on results of the EU parliamentary elections. Euroskeptic parties in Britain and France made solid gains.Europe Marketsread more
Former Apple CEO John Sculley says this skill is vital to all great business leadership.Successread more
Prime Minister Narendra Modi has to make sure that India becomes a highly competitive manufacturing hub where global investors will look to invest, the chairman of India...Asia Economyread more
U.S. President Donald Trump said Monday he expects to get the trade gap with Japan "straightened out rapidly," adding that announcements on that could come as soon as August.World Economyread more
Bitcoin surged more than 9% from the day before to hit its highest level in more than a year.Technologyread more
Stocks in Asia were mixed Monday afternoon as investors watched for developments from U.S. President Donald Trump's state visit to Japan as well as results from the European...Asia Marketsread more
Sources say the talks have picked up speed in recent days and could lead to an announcement regarding a merger or partnership by Monday.Autosread more
Morgan Creek Capital's Mark Yusko is sticking by his October call that stocks must drop nearly 50 percent to reach fair value.
On CNBC Wednesday, the firm's founder and chief investment officer doubled down on his Oct. 11, 2018 prediction that equity prices could lose half of their value. He likened the current market conditions to the tech bubble of the early 2000s.
"Remember the tech bubble popped, there was this return-to-normal rally from late December  through January of 2001, and then it was downhill from there" and stocks did not return to those "crazy valuations," Yusko said on "Power Lunch." "And I think we've got the same playing out here: the tech bubble 2.0 popped" in the final three months of 2018 with the broader market.
Yusko said tech giants like Cisco, Microsoft, Intel and Qualcomm were overvalued during the first tech bubble in the mid-to-late 1990s and have yet to recover those values. He criticized current tech leaders like Netflix and Amazon that have sky-high earnings multiples.
After Yusko's October call, the S&P 500 fell about 13 percent to a 2018 closing low on Christmas Eve of 2,351. But his prediction of a further fall didn't happen. The index since Dec. 24 has recovered nearly all its losses due to a strong January start on Wall Street.
For the S&P 500 to drop nearly 50 percent since Oct. 11, it would have to get to a level around 1,364.
"We don't have to get to fair value, but the way math works for every day you're above average you've gotta spend a day below average," Yusko said.
The S&P 500 traded 0.2 percent higher on Wednesday, closing at 2,638.7 after breaking a four-session winning streak Tuesday.