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Today News

18

North Korea summit cancellation part of 'downside risks' for the economy, Fed's Bostic says

www.cnbc.com

Geopolitical turmoil and policy certainty making businesses more cautious, Richmond Fed President Raphael Bostic says.

17

Existing home sales drop 2.5% in April

CNBC / Economy

U.S. home sales dropped more than expected in April as a shortage of properties for sale continued to weigh on the market.

15

Here's the only way Trump can win the two-front trade war with China and the EU

CNBC / Economy

With a two-front trade war brewing, this is Trump's best option to avoid harmful global impacts, says Prof. Jason Reed.

Fed's Kaplan sees another four rate hikes or so before central bank finishes its job

CNBC / Economy

The Fed needs to raise interest rates about four more times before it reaches equilibrium, Robert Kaplan says.

US weekly jobless claims increase more than expected

CNBC / Economy

New applications for U.S. unemployment benefits increased more than expected last week, but remained below a level consistent with a healthy labor market.

14

Mugabe misses Zimbabwean parliamentary hearing on $15 billion diamond loss

CNBC / Economy

Former Zimbabwean President Robert Mugabe claimed in 2016 that $15 billion of the country's diamond wealth was missing.

Wednesday, May 23

00

Hawaii volcano eruption is scaring away tourists but local businessman says it shouldn't

CNBC / Economy

"You do not need to alter, change or cancel your reservations for any reason," says Gary Marrow, co-owner of Kapohokine Adventures.

21

Fed indicates it will let inflation run above 2 percent goal for 'temporary period'

CNBC / World

Minutes from the Fed's May meeting also pointed to an interest rate hike in June.

17

Five things that could move the markets in the Fed's minutes release today

CNBC / U.S.

The Federal Reserve will release minutes of its meeting in early May that did not see an interest rate increase.

New home sales fall less than expected in April

CNBC / U.S.

Sales of new U.S. single-family homes fell less than expected in April, but data for the last three months was revised lower.

15

Americans face high gas prices, crowded roads this Memorial Day weekend

CNBC / Economy

A record number of Americans are expected to travel this Memorial Day. Here’s when you don’t want to hit the road.

14

Weekly mortgage refinances drop to an 18-year low as rates jump

CNBC / U.S.

A sharp rise in interest rates last week meant far fewer homeowners could benefit from a mortgage refinance.

Tuesday, May 22

00

40 percent of adults can't cover a $400 emergency expense, Fed survey shows

CNBC / Economy

The majority of U.S. adults feel financially secure, yet many have no retirement or emergency savings.

23

As Hawaii volcano eruption hits tourism, governor stresses the island is 'open for business'

CNBC / Economy

Less than 1 percent of the Big Island is actually impacted by the Kilauea volcano eruption, says Gov. David Ige.

17

Inflation is coming to the US economy on an 18-wheel flatbed

CNBC / Investing

Multiple signs of inflation in freight-related industries are at or near historical highs, in a sign that inflation is building.

13

Trump’s trade mantra is ‘speak loudly and wave your stick around,’ says investment chief

CNBC / World

President Donald Trump's efforts to level the trade playing field with China are more political than economic, the chief executive of Barings told CNBC.

10

US hikes tariffs on Chinese steel exported via Vietnam

CNBC / Economy

The US has raised tariffs on steel from Vietnam that Washington says originated in China.

Monday, May 21

23

Trump's China negotiators act like the bumbling bank robbers from 'Dog Day Afternoon'

CNBC / U.S.

Trade trade negotiations with China appear to have a similarly chaotic and incoherent framework

19

Watch CNBC's Steve Liesman host the 2018 National Economics Challenge

CNBC / Economy

The finalists from the Council for Economic Education's National Economics Challenge will put their economics and problem-solving skills to the test in the nation's only high school economics competition.

18

Mnuchin: 'I'm very bullish on stocks' and sustained economic growth over 3%

CNBC / Economy

The Treasury secretary says stocks reflect the improving economy, adding he is "very bullish" on the market.

16

US-China trade agreements are ‘face-saving’ and ‘lose-lose,’ says Moody’s chief economist

CNBC

Triumphant tones coming from the White House over the weekend are inconsequential, Moody's chief economist said Monday.

15

Mnuchin: We've made 'very meaningful progress' with China on trade issues

CNBC / U.S.

Treasury Secretary Steven Mnuchin puts a positive face on U.S.-China trade negotiations.

Mnuchin: Trump could consider a 'skinny' NAFTA if renegotiations don't go as planned

CNBC / U.S.

But for now, the Treasury secretary says, "We're focused on a new NAFTA that would go through Congress."

09

China-style state-led growth won't work in Africa, former Nigeria finance minister warns

CNBC / Economy

Ngozi Okonjo-Iweala speaks about China's economic partnership with African countries.

Sunday, May 20

17

Treasury Secretary Mnuchin declares US-China trade war 'on hold' as both sides work toward agreement

CNBC

The US and China have agreed to drop their tariff threats on billions of dollars worth of each country's goods

Friday, May 18

19

Campbell's Soup blows up Secretary Ross claim tariffs wouldn't hurt them — and he pushes back anyway

CNBC / U.S.

In an earnings call, a Campbell official holds tariffs as a factor in the company's expected poor performance.

11

China says it hasn't offered to cut its trade surplus with the US by $200 billion

CNBC / World

A ministry spokesman said that the claims were not true while speaking at a daily news briefing about the ongoing trade talks between the world's two largest economies, according to Reuters.

Thursday, May 17

17

US, China launch trade talks to avert tariff war, economic damage

CNBC / World

The United States and China launch a second round of trade talks to try to avert a damaging tariff war.

Leading indicators up for sixth straight month

CNBC / Economy

The Leading Economic Index was expected to rise 0.4 percent in April for its sixth straight month of gains.

15

US weekly jobless claims rise, but unemployment rolls are the smallest in 45 years

CNBC / Economy

New applications for U.S. jobless benefits increased more than expected last week.