After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
Analysts generally doubt how effective the People Bank of China's latest interest rate announcement will be in significantly helping businesses grow.China Economyread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Flight bookings to Hong Kong have fallen 10%, hit by the unrest in the city, said Alan Joyce, the chief executive of Australian carrier Qantas Airways.Airlinesread more
Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace.Asia Marketsread more
These in-demand skills can command top pay packets, says Feon Ang of professional networking site LinkedIn.Get Aheadread more
The Washington governor had centered his campaign around climate change, calling it "the most urgent challenge of our time."Politicsread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
The sexy image that once boosted Victoria's Secret has been haunting L Brands more recently, as women are steering clear of the brand's hot pink, lacy and bejeweled lingerie.Retailread more
Ford is one of four automakers that reached a voluntary agreement with California on fuel efficiency rules, defying Trump and his administration's effort to strip the state of...Autosread more
U.S. stock futures were pointing to nearly 200-point decline in the Dow Jones Industrial Average at the Wall Street open Monday. The U.S.-China trade war and concerns about slowing economic growth led the Dow, S&P 500 and Nasdaq to two weeks of losses, putting August on pace to post only the second monthly loss of 2019. China's central bank set its currency weaker than the 7-yuan-per-dollar level for the third straight session, seen by the Trump administration as currency manipulation to mitigate the impact of tariffs.
The exodus from stocks into bonds pushed the 10-year Treasury yield, which moves inversely to price, back under 1.7% on Monday morning. As the perceived safety of bonds continues, President Donald Trump shows no sign of backing down on trade. On Friday, he said he was not ready to make a deal with China and called into question the next round of trade negotiations scheduled for early next month.
Goldman Sachs said the intractable trade war between Washington and Beijing will negatively affect the U.S. economy more than originally thought. Goldman lowered its fourth-quarter growth forecast by 0.2% to 1.8%, with the cumulative drag on U.S. gross domestic product of 0.6%. Goldman also expects the planned U.S. tariffs on the rest of China's imports to go into effect next month, and it no longer sees a trade deal before the 2020 election.
The increasingly violent protests in Hong Kong against the Chinese government are plunging the Asian financial hub into its most serious crisis in decades. Hong Kong International Airport, one of the world's busiest, has canceled all departures for the remainder of the day, citing serious disruption due to anti-government demonstrations. The protests, which began in June in opposition to a bill allowing extradition to mainland China, have morphed into a democracy movement. Hundreds of demonstrators have been detained since the unrest started.
BlackRock, the world's biggest money manager with $6.84 trillion in assets under management, has become the largest stakeholder of the owner of Sports Illustrated. BlackRock bought roughly a 30% stake for $875 million in Authentic Brands Group, the company's CEO officer Jamie Salter told CNBC's Brian Sullivan. The deal values Authentic Brands, a brand management company, at around $4 billion to $4.5 billion, including debt, according to Salter. Authentic also owns Aeropostale, Juicy Couture, Herve Leger, Nine West, Spyder and Frye.