Oil fell on Tuesday after surging the most on record following attacks on Saudi's oil industry that disrupted the kingdom's production.Marketsread more
Damage to the top OPEC producer's oil facilities ignited fears of supply disruption around the world and has sent crude prices soaring.Energyread more
The second-largest investor in Kraft Heinz Company discloses that it has again trimmed its stake in the food company.Marketsread more
Retailers could be in for a jolly jump in holiday sales despite headwinds like the U.S.-China trade war and threat of another economic slowdown.Retailread more
Canaccord Genuity's Tony Dwyer says Americans are spending less than ever on their fuel needs.Trading Nationread more
U.S. manufacturing output increased more than expected in August, boosted by a surge in machinery and primary metals production.Economyread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
NBCUniversal's new streaming service will be named "Peacock," the company announced Tuesday.Technologyread more
Apple isn't trying to blow our minds with groundbreaking new features on the iPhone 11, but is making lots of little improvements each year, this year focusing on cameras and...Technologyread more
In recent months, the FTC and DOJ have launched sweeping investigations into potential anti-competitive behavior among the tech giants. But lawmakers worry those efforts are...Technologyread more
A California person has died from a vaping-associated lung disease that has now killed at least seven people and sickened nearly 400 people, California health officials...Health and Scienceread more
U.S. consumer confidence tumbled this month to its lowest reading in a year and a half, tested by the partial government shutdown and roiling financial markets. Still, consumer spirits remain robust by historic standards.
The Conference Board, a business research group, said Tuesday that its consumer confidence index fell to 120.2 in January, down from 126.6 in December and the lowest level since July 2017.
The index measures consumers' assessment of current economic conditions and their expectations for the next six months. Both declined in January. Consumers' expectations for the future dropped to the lowest point since October 2016.
The government reopened Monday after the 35-day shutdown, the longest federal closure in U.S. history. The shutdown is expected to cause slight permanent harm to the economy — about $3 billion — according to a new government report.
The January decline "is more the result of a temporary shock than a precursor to a significant slowdown in the coming months," said Lynn Franco, the Conference Board's senior director of economic indicators. He noted that "shock events" such as government shutdowns "tend to have sharp, but temporary, impacts on consumer confidence."
The U.S. economy is healthy. Economic growth clocked in at a brisk 3.4 percent annual pace from July through September after surging 4.2 percent in the second quarter. At 3.9 percent, the unemployment rate is near its lowest level in five decades.
The U.S. stock market is steadier after its wild gyrations and heavy losses late last year. Still, investors have a lot to worry about. The Federal Reserve has gradually been raising interest rates. A government report issued Monday predicts that U.S. economic growth will slow as the effects of President Donald Trump's tax cuts for businesses begin to drop off. The Congressional Budget Office report sees the economy growing by 2.3 percent this year, a marked slowdown from 3.1 percent in 2018.
Global growth is sputtering. And the U.S. and China — the world's two biggest economies — are locked in a trade war that threatens to disrupt global commerce.
This story is developing. Please check back for updates.