In loosening bank regulation, GOP House closes a loophole linked to Puerto Rico’s financial crisis
U.S. lawmakers closed a long-standing legal loophole that helped spark a financial crisis in Puerto Rico that has decimated the savings of thousands of residents. Tucked inside legislation that passed the House of Representatives Tuesday night — a larger bill...
40 percent of adults can’t cover a $400 emergency expense, Fed survey shows
Even with most Americans feeling more financially secure than they did five years ago, many are struggling to set aside any type of savings. About 40 percent of adults said that if faced with a $400 unexpected expense, they would...
As Hawaii volcano eruption hits tourism, governor stresses the island is ‘open for business’
The volcano eruption on Hawaii’s Big Island is driving away some tourists from the affected area, but the rest of the island is “open for business,” Gov. David Ige told CNBC on Tuesday. Hawaii Volcanoes National Park, a popular tourist...
Raytheon downgraded as Credit Suisse curbs its enthusiasm for defense and aerospace
The hot trade in aerospace and defense – including that of industry leader Raytheon – is coming to an end, according to Credit Suisse, which downgraded both the sector and the company to neutral on Tuesday. “After six consecutive years...
Spiking AutoZone shares roll completely over and tank on cost concerns raised on earnings call
AutoZone shares dropped 9.5 percent on Tuesday, erasing a sharp gain from earlier in the day, after worries of rising costs for the company were raised during its quarterly earnings call. During the call, CEO William Rhodes said he expects...
Inflation is coming to the US economy on an 18-wheel flatbed
Investors and policymakers have gone looking for inflation over the past decade and largely have come up empty. It could, however, come barreling at them soon like an 18-wheeler. Multiple signs of inflation in freight-related industries are at or near...
Your first trade for Tuesday, May 22
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of U.S. Steel. Brian Kelly was a buyer of Deere & Company. Dan Nathan was a buyer of PayPal. Guy Adami was a...
Trump’s trade mantra is ‘speak loudly and wave your stick around,’ says investment chief
Donald Trump’s approach to foreign relations has never been subtle. But the president’s recent declarations about leveling the trade playing field with China, premised on market competition, are more political than economic, the chief executive of Barings said Tuesday. “It’s...
Sell stocks as another correction is coming, strategist warns
The bond market is signaling an upcoming correction and investors should sell their shares in listed companies, a strategist told CNBC Tuesday. Borrowing costs have gone up over the last few weeks, with the yield on both the 10-year U.S....
US hikes tariffs on Chinese steel exported via Vietnam
The United States has raised tariffs on steel from Vietnam that Washington says originated in China and evaded anti-dumping duties on Chinese steel. The announcement following this week’s truce in a broader trade dispute between Beijing and Washington reflects the...
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