Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
President Donald Trump needs to cut a trade deal with China because his reelection prospects rest on keeping the stock market and the economy strong, Wharton School professor Jeremy Siegel told CNBC on Tuesday.
"He cannot afford to let that slip. He knows it. His political advisors know that. A year from now, we can't be lower on the stock market than we are, and our economy has to be better. So it's up to Trump make a deal," said Siegel, a closely followed market observer whose mostly bullish take on stocks over the years has been correct.
Since May 5, when Trump surprised investors with tweets threatening higher tariffs on China, the S&P 500 has lost about $1.1 trillion in value — the type of decline that if it were to persist could put a real drag on U.S. economic growth.
Monday alone saw the drop 2.4%, its worst single-day since early January, after China retaliated for Trump's slapping 25% tariffs on $200 billion worth Chinese imports on Friday. The index has fallen nearly 5% since its intraday all-time high set on May 1.
Meanwhile, the Office of U.S. Trade Representative is taking the necessary steps to impose tariffs of the remaining billions of dollars worth of Chinese goods coming into the U.S.
"The market wants a solution. Don't forget, the market didn't really want this trade war to begin with," Siegel said in a "Squawk Box" interview. "Let's not rock a boat that's going well."
One week after Siegel told CNBC that stocks could drop 10% to 20% if the U.S. and China were to dig in during trade talks, he said, "The market is going to continue to react" if Trump wants to push China to be the end.
"You can pull victory out of defeat. No one is really going to look at the details," the Wharton professor said, stressing that the president has a bully pulpit to cast any agreement with China as a victory even if it's just so-so.