U.S. oil production has likely peaked and will start to decline due to price plunge, Diamondback CEO has said

U.S. onshore oil production may have reached its peak and is likely to decline due to the recent drop in crude prices, potentially threatening the country’s status as the world’s leading fossil fuel producer and undermining its energy independence, according to a letter from Diamondback Energy CEO

The United States to cut the low value "de minimis" tariff on China shipments to 54% from 120%, with a flat fee of $100 to remain

The United States will reduce tariffs on low-value imports from China under the “de minimis” rule, according to a White House executive order issued Monday — a move that signals continued efforts to cool tensions between the two largest global economies. The tariff reduction targets major Chinese e-commerce platforms

House GOP tax bill calls for ‘SALT’ deduction cap of $30,000 for most taxpayers

House Republicans are pushing to raise the deduction limit for state and local taxes — known as SALT — as part of President Donald Trump’s broader tax and spending proposal. On Monday afternoon, the House Ways and Means Committee released its draft of the bill, including a provision that would raise

Ticketmaster, LYV, said it will start displaying the full price of a ticket as soon as consumers begin shopping

Ticketmaster, long criticized for hidden fees and other customer frustrations, is among the businesses targeted by a new rule from the Federal Trade Commission (FTC) announced in December. The rule mandates that companies like ticketing platforms, hotels, and vacation rental services must clearly disclose processing, cleaning, and other fees upfront.

Frustrated sellers are cutting house prices by tens of thousands of dollars as buyers grow more elective

A widening gap is emerging between what home sellers hope to get and what buyers are actually willing to pay. According to Redfin, in March the median asking price was 9% higher than the median sale price — a sign that seller expectations are becoming increasingly out of sync with market

Tariffs are raising costs for wedding dresses and threatening the small shops that sell them

Tariffs on Chinese imports have impacted a broad array of consumer goods — from T-shirts and toys to patio furniture and baby strollers. But few sectors illustrate the pressure on small businesses more clearly than the bridal and formalwear industry, which sits squarely in the middle of the global supply

US CPI year over year increase is smallest since Feb 2021

April’s inflation data came in slightly softer than expected, but former President Donald Trump’s tariffs remain an unpredictable factor in the broader inflation outlook, depending on how trade negotiations evolve over the coming months. According to the Labor Department’s Tuesday report, the Consumer Price Index (CPI) rose

Microsoft, MSFT, is laying off 3% of all its employees

Microsoft (NASDAQ: MSFT) is cutting roughly 3% of its global workforce—its most significant round of layoffs in over two years. Though not officially announced through a press release or SEC filing, the news broke Tuesday and was later confirmed by a Microsoft spokesperson to CNBC. The reduction amounts to

Paul Tudor-Jones: Market will go to new lows until tariffs change

Billionaire hedge fund manager Paul Tudor Jones warned Tuesday that the stock market is likely to drop to new lows, even if President Donald Trump scales back his aggressive tariffs on China. “It seems pretty straightforward to me,” Jones said during an appearance on CNBC’s Squawk Box. “You’ve

Trump has said: The stock market will go higher

Since President Donald Trump halted most of the retaliatory tariffs on April 9—reversing the course he set on April 2—the stock market has surged. The S&P 500 and Nasdaq have both posted double-digit gains, fueled by investor optimism that a less confrontational stance could pave

New Republican tax bill to raise debt limit by $4 trillion

House Republicans are pressing ahead with a plan to raise the U.S. debt ceiling by $4 trillion as part of a broader legislative effort to advance President Trump’s tax agenda. The proposal, released Monday in a bill drafted by the House Ways and Means Committee, aligns with the

Trump officially maintains 120% cheap goods tax on China, hitting Shein and Temu

Small packages from China will continue to face a 120% tariff, a White House official confirmed Monday, posing a significant setback for American consumers who rely on low-cost goods from e-commerce giants like Shein and Temu. The Trump administration had previously closed a long-standing loophole that allowed

Morgan Stanley, MS, says humanoid robots will be a $5 trillion market by 2050

Humanoid robots could eventually surpass the auto industry in economic significance, according to Morgan Stanley (NYSE:MS), which projects the market could generate up to $5 trillion in annual revenue by mid-century as adoption spreads from industrial and commercial sectors into households. The firm envisions as many as 1

Americans need to earn about 70% more today than six years ago to comfortably afford a median-priced home

U.S. households now need to earn $114,000 annually to afford a median-priced home, a staggering 70.1% increase from the $67,000 needed just six years ago, according to the Realtor.com® April Housing Trends Report. While affordability has clearly eroded, there are emerging signs that the

Trump: We achieved total trade reset with China

President Donald Trump said tariffs on Chinese goods won’t return to the 145% level after the current 90-day suspension, expressing optimism that a deal is on the horizon. Referring to the Geneva negotiations over the weekend, he described them as “productive” and said a “total reset” had been

Bessent: can always go back to April 2 level for China tariffs

President Donald Trump said tariffs on Chinese goods won’t return to the 145% level after the current 90-day suspension, expressing optimism that a deal is on the horizon. Referring to the Geneva negotiations over the weekend, he described them as “productive” and said a “total reset” had been

Tariffs threaten a pharmaceuticals shortage, as 95% of ibuprofen comes from China

The United States heavily relies on China for its supply of common over-the-counter pain medications, making President Donald Trump's 145% tariffs on Chinese imports particularly impactful on the U.S. pharmaceutical supply chain. According to Apollo Chief Economist Torsten Sløk, approximately 95% of the U.S.

China to lower tariffs on US goods to 10% from 125% for 90 days

President Donald Trump said tariffs on Chinese goods won’t return to the 145% level after the current 90-day suspension, expressing optimism that a deal is on the horizon. Referring to the Geneva negotiations over the weekend, he described them as “productive” and said a “total reset” had been

Trump: China tariffs won't go back up all the way to 145%

President Donald Trump said tariffs on Chinese goods won’t return to the 145% level after the current 90-day suspension, expressing optimism that a deal is on the horizon. Referring to the Geneva negotiations over the weekend, he described them as “productive” and said a “total reset” had been

Markets are one Truth Social post from being up or down 5% every day, JPMorgan portfolio , JPM, manager said

“We’re one Truth Social post away from a 5% swing either way on any given day,” said Bill Eigen, a portfolio manager at JPMorgan, during a CNBC appearance Friday morning ahead of the April jobs report. “At this point, the data almost feels like an afterthought.” Markets have been

Trump: Mattel 100% tariff

President Donald Trump has threatened to slap a 100% tariff on Mattel, the maker of Barbie, after the company’s CEO said it would continue producing goods overseas while reducing its dependence on Chinese manufacturing. “I heard they said, ‘We’ll just move somewhere else,’” Trump told reporters in the

Trump to lower drug costs

Former President Donald Trump announced on Sunday that he plans to sign an executive order on Monday aimed at lowering the cost of certain prescription drugs — reviving a stalled policy effort from his first term that he has championed since before entering office. The order, if enacted, would direct the

Trump is poised to accept a luxury jet costing $400 million as a gift from Qatar

In what could be the most valuable gift ever given to the United States by a foreign nation, the Trump administration is preparing to accept a lavishly outfitted Boeing 747-8 jumbo jet from Qatar’s royal family—a plane intended for use by President Donald Trump as a temporary

Putin and Zelensky to meet in Turkey on Thursday to discuss ceasefire

Ukrainian President Volodymyr Zelensky announced on May 11 that he is prepared to meet Russian President Vladimir Putin in Turkey on May 15. "There is no point in prolonging the killings. I will wait for Putin on Thursday in Turkey," Zelensky stated. As Ukraine's allies continue

US announces China trade deal in Geneva

U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer announced Sunday that they had reached a deal with China aimed at reducing the U.S. trade deficit, citing “substantial progress” following two days of high-level talks in Geneva. However, they provided no specifics, saying full details would