Earlier Friday, Trump tweeted that American companies "are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and...Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
Supreme Court Justice Ruth Bader Ginsburg has completed a three-week course of radiation therapy for cancer, the top court said in a statement Friday.Politicsread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them to find alternatives to their Chinese operations.Marketsread more
Lowe's is vying for a category of customer that Home Depot has traditionally dominated — the professional contractor.Retailread more
U.S. oil prices fell about 5 percent on Friday after U.S. energy firms cut oil rigs for a third week in a row this week, data showed on Friday, a sign the latest crude price weakness was causing drillers to put on hold plans announced several months ago to return to the well pad.
The drop comes amid increased concerns about the outlook for energy demand. The U.S. central bank warned of the health of the global economy and bearish signs persisted that the world's biggest crude producers would keep pumping at high levels.
Drillers removed eight rigs in the week ended Sept. 18, bringing the total rig count down to 644, after cutting 23 rigs over the prior two weeks, oil services company Baker Hughes Inc said in its closely followed report.
Those reductions cut into the 47 oil rigs energy firms added in July and August after some drillers followed through on plans to add rigs announced in May and June when U.S. crude futures averaged $60 a barrel.
U.S. oil prices, however, have averaged $46 a barrel so far this week, up a bit from the $45 average last week.
In response to falling prices, U.S. oil production has declined over the past several weeks with output down to about 9.1 million barrels per day last week from an average 9.6 million bpd from late May to mid July, the highest since the early 1970s, according to government data.
"The current rig count is pointing to U.S. production declining sequentially between the second quarter of 2015 and the fourth quarter by 250 thousand barrels a day," analysts at Goldman Sachs said in a note.
Those output reductions occurred months after U.S. energy firms slashed spending, cut thousands of jobs and idled around 60 percent of the record 1,609 oil rigs that were active in October 2014 as prices collapsed from around $107 a barrel in June 2014 to under $44 in January on lackluster global demand and lingering oversupply concerns.