Bank of America CEO Brian Moynihan is not worried about an economic slowdown, saying the U.S. consumer is still in a strong place.Banksread more
Target CEO Brian Cornell says he's encouraged by Trump's decision to postpone some consumer-oriented tariffs that were supposed to start Sept. 1.Retailread more
Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
President Trump insists the economy is healthy and says the only thing holding U.S. growth back is the Federal Reserve.Marketsread more
In a second-round of tweets aimed at the U.S. central bank, the president asked, "WHERE IS THE FEDERAL RESERVE?"Marketsread more
J.P. Morgan Chase customers will no longer be able to pay with their phones in stores beginning next year.Marketsread more
Gluskin Sheff's David Rosenberg predicts one of the strongest parts of the U.S. economy will disappoint Wall Street and lead to a market meltdown.Futures Nowread more
Target opens at a record high and breaches $100 a share.Retailread more
Sanders' sweeping proposal would make it easier for workers to join unions and end the so-called right-to-work laws recently favored by the GOP.2020 Electionsread more
Germany has sold a 30-year bond with a 0% interest rate for the first time on Wednesday.Marketsread more
U.S. government debt prices fell on Monday a government report showed consumer spending surged to its highest level in 9 and a half years in March.
Consumer spending rose 0.9% overall and 0.7% when adjusted for inflation, driven by a jump in expenditures on motor vehicles and health care. Meanwhile, the core personal consumption expenditures was flat for the month and up 1.6% year over year, and the headline number rose 0.2% for a 1.5% increase over the year.
Market participants eagerly await a meeting of the U.S. Federal Reserve and the publication of Chinese factory data for further clues on policy direction in the world's largest economies.
It comes after the U.S. reported stronger-than-anticipated growth over the first three months of the year. Official data showed gross domestic product (GDP) stood at an annualized rate of 3.2% in the first quarter, beating analyst expectations.
The U.S. central bank's Federal Open Market Committee (FOMC) is due to announce its latest monetary policy decision on Wednesday.
Meanwhile, the U.S. Treasury is set to auction $39 billion in 13-week bills and $36 billion in 26-week bills.
Elsewhere, oil prices slipped during morning trade, extending a slump from the previous session after President Donald Trump demanded that OPEC raise output to soften the impact of U.S. sanctions against Iran.