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
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
Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace.Asia Marketsread 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 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
See which stocks are posting big moves after the bell.Market Insiderread more
"I'd love to say that the optimistic universe is most likely to prevail, but the talking heads talk endlessly about how a recession is inevitable," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
U.S. stock futures were pointing to a 150-point gain for the Dow Jones Industrial Average at the Friday open, capping a wild week on Wall Street. The Dow bounced up 100 points Thursday, a day after losing 800 points, or 3%, in the worst session of 2019. Encouraging data on the strength of the U.S. consumer, despite concerns about a global economic slowdown, won the day. Also bolstering investor sentiment, Beijing officials softened their trade war rhetoric. However, the Dow was 2.7% lower on the week ahead of Friday trading.
With stocks tracking higher, bond prices were lower on Friday. After dipping below 2% for the first time ever, the 30-year Treasury yield was back above that level Friday morning. Yields move inversely to bond prices. The 2-year and 10-year yield spread, which briefly inverted and flashed a recession signal earlier this week, remained back to normal, with the 2-year Treasury yielding less than the 10-year. On Thursday, the 10-year slipped below 1.5% to a three-year low.
Bridgewater Associates' Ray Dalio told CNBC on Friday he would not rule out China using its Treasury holdings to gain an upper hand against the U.S. on trade. The founder of the world's largest hedge fund also said the U.S. economy is taking a turn for the worse, with a 40% chance of recession before next year's presidential election. However, economists boosted their forecasts for U.S. gross domestic product growth in the third quarter to a median of 2.1% after a batch of better-than-expected data. That's according to the CNBC/Moody's Analytics Rapid Update.
Mass pro-democracy protests were expected this weekend in Hong Kong, which has been emerging as another flash point between Beijing and Washington. President Donald Trump, taking with reporters Thursday evening, urged Chinese President Xi Jinping to meet with the demonstrators to defuse weeks of tensions in the Chinese territory. China's ambassador to London said Beijing could use its power to stop the protests should they get out of hand. Trump also said the September trade talks with China were still on.
Shares of General Electric were 2% higher in premarket trading Friday, after tanking 11% in their worst decline in more than a decade. In a Thursday evening SEC filing, GE revealed that CEO Larry Culp bought nearly $2 million worth of company stock after Madoff whistleblower Harry Markopolos issued a report, calling GE "a bigger fraud than Enron." Markopolos said a hedge fund paid him to conduct the research on GE, but he would not name the fund. Leslie Seidman, a GE board director and audit committee chair, also pushed back, telling CNBC that the Markopolos report "does not reflect the GE that I know."