As part of the plan, Amazon has agreed to purchase 100,000 electric delivery vans from vehicle manufacturer Rivian.Technologyread more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and apply those discounts to private health plans.Health and Scienceread more
Hedge fund titan Leon Cooperman said he's concerned about a shift to the left in the political landscape, which could harm the economy and the stock market.Delivering Alpharead more
The move could bring a welcome salve to farmers caught in the crosshairs of the trade war if it results in a reopening of the market.Politicsread more
Apple's big iOS 13 update for iPhones is out now and includes lots of new features. Here's how to install it on your phone and what devices are supported.Technologyread more
The pilot program will deliver food and beverage, over-the-counter medications and other items within minutes, the company said. Prescription deliveries will not be available.Health and Scienceread more
Check out the companies making headlines in midday trading:Market Insiderread more
The FDA's Office of Criminal Investigations opened a probe "shortly after" people started falling ill, Mitch Zeller, director of the FDA's Center for Tobacco Products, told...Health and Scienceread more
Investor Jim Chanos is betting against GrubHub, and said the food delivery company makes almost nothing per order.Delivering Alpharead more
Billionaire investor Leon Cooperman on Thursday said he believes that the Federal Reserve is "screwing the savers."Delivering Alpharead more
Bitcoin is closing in on its highest level in more than a year after soaring above $11,000 over the weekend.
The world's first and largest cryptocurrency hit a high of above $11,307.69 Sunday evening, bringing its one-week gains to more than 20%, according to data from industry site CoinDesk. Prices scaled back slightly Monday, and were trading at $10,917 as of Monday afternoon.
Analysts largely attributed bitcoin's price bump to more awareness of the digital asset class following Facebook's ambitious cryptocurrency project announced last week.
"It's clearly a positive for bitcoin," Bart Smith, head of Susquehanna's digital asset group, told CNBC's "Squawk Box" on Monday. "If 2 billion users are on Facebook, some percentage of them start to kind of look at Libra and try to understand how it is different and similar to bitcoin — that is a positive."
Facebook unveiled a cryptocurrency project last week that will be run by a Swiss nonprofit called the Libra Association. The cryptocurrency, which is expected to go live in 2020, will not be controlled or fully run by Facebook, according to its white paper. Stripe, Uber, Mastercard, Visa, PayPal and Spotify are among the dozens of others with stakes in the project.
Circle CEO Jeremy Allaire said Facebook's involvement brought more brand recognition to blockchain — the technology that underlies bitcoin — and its potential from retail and institutional buyers.
"There's a broader understanding of crypto as an asset class," Allaire told "Squawk Box" on Monday. "Anticipation that next generation of blockchains, including what we heard about last week with Libra Association, really indicates what is ultimately going to be a massive mainstream phenomenon touching billions of people."
But it also brought attention to the possible downside. The announcement quickly caught the wary attention of Democratic and Republican lawmakers.
"We're going to move aggressively and very quickly to deal with what is going on with this new cryptocurrency," Rep. Maxine Waters, D-Calif., chairwoman of the House Financial Services Committee, told CNBC on Thursday. "I think it's very important for them to stop right now what they're doing so that we can get a handle on this."
While Facebook and other corporate giants entering the space may have helped lead to an initial bump, Smith said the majority of the rise was due to technical levels being broken. Once the "psychological barrier" of $10,000 was broken, bitcoin "shot up," he said.
"Most of the people who trade bitcoin for profit trade it on technicals," Smith said. "There was a lot of resistance area in the upper $9,000s and that got broken."
Some have attributed bitcoin's rally this year to safe-haven buying. The cryptocurrency's volatility and transaction cost have largely kept it from being used as an everyday payment method. Instead, it's seen by some believers as a store of value, or "digital gold." That global hedge use-case seemed unlikely in 2018 after it ended the year down more than 73 percent.
But bitcoin's 190% rebound this year has coincided with the ongoing U.S.-China trade war and increased tensions with Iran. Allaire said many investors see bitcoin as being similar to gold, which has a limited and predictable supply. Gold hit a six-year high Monday.
"As a safe-haven asset, they have a lot of similarities," Allaire said.