Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
"Federal debt, which is already high by historical standards, is on an unsustainable course," CBO director Phillip Swagel said in the report.Politicsread more
Target CEO Brian Cornell still thinks the U.S. consumer is strong and spending. Target's latest quarterly results showed the big-box retailer is benefiting from that.Retailread more
"If you look at the market over the past week, stocks don't need any help. They are roaring ahead, without the Fed doing anything," says the longtime market strategist.Marketsread more
Stocks rose on Wednesday as strong quarterly results from retailers such as Target and Lowe's lifted investor sentiment.US 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
Trading volumes this week are well below recent averages, and that means this comeback may be suspect.Marketsread more
Shares of Tesla slid Wednesday on news of Walmart's lawsuit.Technologyread more
The rule could defy a 2015 Flores Settlement Agreement court order that says families cannot be held in detention for more than 20 days.Politicsread more
A key indicator for the commercial real estate market is showing signs of weakness, and uncertainty in the economy over the trade war and interest rates may be to blame.Real Estateread more
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
U.S. stock futures, in volatile trading, swung from earlier gains to losses Thursday after China vowed to take unspecified steps to counter President Donald Trump's plan to impose 10% tariffs about $300 billion of additional Chinese imports on Sept. 1. Then better-than-expected quarterly earnings and revenue from Walmart pushed Dow futures higher again. The Dow Jones Industrial Average was coming off its worst session of the year on Wednesday, dropping 800 points or 3%. Heading into the new trading day, the Dow was down 7% from its all-time highs in July.
After Wednesday's brief recession-signal inversion of the 2-year Treasury yield and 10-year yield, the 30-year Treasury yield on Thursday broke under 2% for the first time ever. An inverted yield curve marks a point when short-term investments in Treasurys pay more than longer-term ones. When they flip, it's widely regarded as a bad sign for the economy, though often a recession doesn't materialize until nearly two years later. Driving the Treasury yields lower, in an inverse relationship with prices, has been a flight from stocks to the perceived safety of the bond market.
China said countermeasures would be needed because the U.S. tariffs violate a consensus reached by Chinese President Xi Jinping and Trump. Beijing also argued that new U.S. duties get off the right track of resolving the two nation's trade and technology disputes through negotiations. Trump has said his announcement on Tuesday to delay tariffs on certain consumer items until mid-December was a move to help American businesses not a concession to the Chinese.
As China ponders its response to pro-democracy protests in Hong Kong, Trump suggested in a tweet a "personal meeting" with Xi over the escalating unrest. Those demonstrations and the U.S.-China trade war have been weighing heavily on Hong Kong, and the government there unveiled on Thursday an a $2.4 billion economic stimulus package. Officials in the Chinese territory also cut full-year growth forecasts to flat to 1% from the original 2% to 3%.
Shares of Walmart, a Dow component, were surging about 6% in Thursday's premarket after the retailing giant reported better-than-expected second-quarter earnings of $1.27 per share and revenue of $130.4 billion. For fiscal year 2020, the company increased its earnings outlook. As for the upcoming additional U.S. tariffs on more Chinese imports, Walmart already warned earlier this year that more duties would lead to increased prices for customers.