James Bullard said he dissented on this week's Fed decision to lower rates by a quarter percentage point because he didn't think the cut was big enough.The Fedread more
More than 400 Chinese products will be temporarily exempted from tariffs that President Donald Trump's administration imposed last year.China Economyread more
"I feel like I've contributed all I can to this primary election," he told MSNBC's "Morning Joe." "And it's clearly not my time. So I'm going to end my presidential campaign."2020 Electionsread more
Apple will get a taste of whether upgraded features on the new iPhone 11 are enough to lure shoppers to retail stores around the world as the new smartphones officially hit...Technologyread more
The complaint made by an unnamed intelligence official about the president centers on Ukraine, the Washington post reported.Politicsread more
The Pentagon on Thursday said the recent attack on Saudi Arabian oil facilities were "sophisticated" and represented a "dramatic escalation" in tensions within the region.Defenseread more
U.S. stock futures are modestly higher, with the S&P 500 just a little more than 20 points away from July's all-time high ahead of Friday's open on Wall Street.Marketsread more
Bank of America says Amazon's plans to build its own fleet of carbon-neutral delivery trucks bode well for its bottom line.Investingread more
The show comes as social media platforms and legacy media companies alike have launched a flurry of original content alongside new streaming platforms like Apple TV+ and...Technologyread more
Pivotal Research Group began coverage of Roku with a sell rating on FridayInvestingread more
Two sites were hit on Saturday — the Abqaiq and Khurais oil facilities — which took out 5.7 million barrels per day of crude oil production.World Politicsread more
Dow futures were pointing to a 300-point gain at Monday's open. The Dow Jones Industrial Average surged 307 points Friday as a rebound in bond yields eased concerns about a recession. Ahead of Monday trading, the Dow was about halfway to erasing Wednesday's 800-point plunge. The Dow, S&P 500 and Nasdaq enter the new week with three consecutive weekly losses. The Dow and Nasdaq were more than 5% below their all-time highs in July, while the S&P 500 was 4.6% off its record. However, they're all still up double-digit percentage points for 2019.
Bond yields were higher Monday morning, after hitting multiyear lows last week. The 10-year Treasury yield on Wednesday briefly dipped below the 2-year yield, an inversion that tripped a historically reliable recession signal. Over the weekend, President Donald Trump said he does not see a recession on the horizon. White House trade advisor Peter Navarro played down the inversion, saying "technically" it was more flat than inverted. For a true inversion, he said on CNN, the spread would need to have been much larger.
The Commerce Department is expected to extend Chinese tech giant Huawei's licensing process for three months as a gesture of "good faith," top Trump economic advisor Larry Kudlow told NBC's "Meet the Press." Later on Sunday, Trump said he does not want the U.S. to do business with Huawei, which has gotten tangled up in the U.S.-China trade war. The two nations are expected to hold face-to-face talks in Washington next month. Delegations met in Shanghai last month with little progress at resolving their disputes.
Trump said he talked to Tim Cook about tariffs and Apple's South Korean competitor Samsung. The president said the Apple CEO made a "good case" that it would be difficult for Apple to pay tariffs when Samsung does not face the same hurdle because much of its manufacturing is in South Korea. Cook made a "very compelling argument," Trump told reporters Sunday, revealing he and Cook had dinner on Friday evening. Last week, the White House delayed 10% tariffs on certain items, including consumer electronics such as smartphones, from next month to mid-December.
The Business Roundtable, a group of CEOs from major U.S. corporations, issued a statement Monday with a new definition of the "purpose of a corporation." The re-imagined idea drops the age-old notion that corporations function first and foremost to serve their shareholders and maximize profits. Rather, investing in employees, delivering value to customers, dealing ethically with suppliers and supporting outside communities are now at the forefront of American business goals, according to the statement. Jamie Dimon, chairman and CEO of J.P. Morgan Chase, is chairman of Business Roundtable.