Stocks fell sharply on Thursday as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.Marketsread more
The yield on the 10-year Treasury note fell to its lowest level since 2017 as more traders grew confident in a longer U.S.-China conflict.Bondsread more
A Ministry of Commerce spokesperson does not single out any U.S. action, but it's been a tense couple of weeks for the trade war.World Politicsread more
"For them to say that they don't work with the Chinese government is false," Secretary of State Mike Pompeo tells CNBC.Politicsread more
Facebook has stopped paying commission to staff for selling political advertisements on its platform, The Wall Street Journal reported.Technologyread more
Oil prices dropped on Thursday, extending falls from the previous session amid surging U.S. crude inventories as low refinery runs and ongoing trade tensions weighed on the...Energy Commoditiesread more
U.S. manufacturer growth hit new lows in May, the latest sign that the economic slowdown accelerated amid the ongoing trade war.Economyread more
Wall Street is under pressure, but a handful of stocks are breaking out to new highs. McDonald's, Waste Management, Hershey, Visa and Costco have notched records this month,...Trading Nationread more
No timetable has been set on returning the money to outside investors in Tepper's Appaloosa Management, source says.Hedge Fundsread more
Huawei is winning over more and more Apple fans in China as the escalated trade tensions stoked "nationalist sentiment," according to South China Morning Post.Marketsread more
Celebrity chef Mario Batali is being charged with indecent assault and battery, more than a year after admitting to sexual misconduct.Restaurantsread more
Presumptive Republican nominee Donald Trump is going to be the next president of the United States, and things could get "pretty scary" in the short-term, according to Jeffrey Gundlach, chief executive officer of DoubleLine Capital.
Still, investors should look at any Trump-related market downturn as a buying opportunity, he said.
Gundlach, speaking with CNBC on Friday, emphasized that he does not support political candidates, but his analysis leads him to believe Trump — who lags presumptive Democratic nominee Hillary Clinton in recent national polls — will win the White House.
"People aren't getting along, they're not happy because of technology taking jobs, and sort of this long, slow grind of a new economy. And so they're looking for change, and I think Trump is going to win on the basis of that," Gundlach said on "Fast Money Halftime Report. " "And he will be quite a bit like Ronald Reagan."
From a trading perspective, Gundlach said Trump is "bonds negative and stocks positive." And if Clinton were to win, she would mean the opposite for the markets, he added.
In fact, the fear surrounding a potential Trump presidency could be an opportunity for investors.
"Things are going to get pretty scary, and I think it's going to present quite a good buying opportunity because I think when Donald Trump is inaugurated, I think that he's going to initiate a very large deficit spending program," Gundlach said.
Such a program, he said, would probably not be "very prudent from a structural point of view," but would appear in the short term to be "working." Specifically, he said, a Trump-led domestic works program could both increase the deficit by $500 billion and bump GDP growth by 2.5 percent.