Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
"I like bitcoin" and the security of the blockchain ledger technology behind cryptocurrencies, the California Republican said, as he criticized Facebook's plans for a Libra digital coin ahead of hearings on Capitol Hill this week.
Libra will be pegged to a basket of government-backed money, compared with bitcoin, which is highly volatile in price and derives value from factors including its ability to enable instantaneous, anonymous, global payments and as an investment.
Nobody controls bitcoin.
McCarthy did, however, say that bitcoin is not where it needs to be yet, alluding to the risks of cryptocurrencies being used by criminals and money launderers.
While Libra promises more stability, McCarthy remains concerned.
"When I'm on Facebook, I'm not the customer, I'm the product," he said. "Facebook is free because they sell your data to make money. Now they want to get into the business, and they're not bitcoin, in this Libra. They're not decentralized."
In Libra hearings by the Senate Banking Committee on Tuesday and House Financial Services on Wednesday, McCarthy said he's looking for the social media giant to address its potential anti-competitive behavior.
"I want to see decentralization because Libra concerns me that they're going to control the market," McCarthy said.
To address those concerns, Facebook set up Libra to be run by a nonprofit consortium supported by a range of firms and organizations, including including payment companies Visa and PayPal, as well as tech giants eBay, Lyft, Spotify and Uber.
Republican Sen. Pat Toomey strayed from McCarthy's and the Trump administration's critical views o Libra, telling CNBC in a separate interview Tuesday that Facebook's planned digital coin should be given a chance.
"I don't want to presume in advance that we've got to prevent the development of some new innovation," Toomey offered.
However, the Pennsylvania senator added he wants to know the real motivation behind Libra because Facebook has said that it's not about making money.