"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
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Yields slipped after Powell said that the central bank will continue to act as appropriate to sustain the economic expansion.Bondsread 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
The president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
Semiconductor stocks and shares of Apple slid on Friday after President Donald Trump said U.S. companies should "immediately start looking for an alternative" to their...Technologyread more
The two American car companies are among the top exporters of U.S.-produced vehicles to China along with BMW and Daimler/Mercedes-Benz, according to industry data obtained by...Autosread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them find alternatives to their Chinese operations.Marketsread more
Powell repeats his pledge to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
These are the stocks posting the largest moves in midday trading.Market Insiderread more
Job creation at the company level rose about in line with expectations in August, despite weakness in manufacturing and construction, according to the latest report from ADP and Moody's Analytics.
Companies added 177,000 positions for the month, just above Wall Street expectations for 175,000.
While the headline number appeared solid, the internals were a bit weaker. All of the new jobs came from services, which added 183,000 positions. Goods-producing industries actually lost 6,000 for the month.
"Broadly speaking, the labor market feels really good," said Mark Zandi, chief economist at Moody's Analytics. "All of the internals of the labor market are solid."
The disappointment on the goods side featured a loss of 2,000 construction jobs and a net gain of zero in manufacturing. The goods-producing sector lost 5,000 jobs in July as well.
At an industry level, the biggest gains came from professional and business services, which added 53,000. Trade, transportation and utilities contributed 26,000, while financial activities grew by 15,000. Franchises added 19,200.
As for size, gains were fairly evenly distributed. Companies with more than 500 workers added 70,000, while those with fewer than 50 employees gained 63,000 and medium-sized companies contributed 44,000.
The July numbers were revised higher, from an initially reported 179,000 to 194,000. Private payrolls have not grown by more than 200,000 since March.
The ADP report is watched closely by investors as a precursor to Friday's nonfarm payrolls report by the Labor Department. Economists occasionally adjust their projections based on ADP's numbers, though a number this close to consensus may not generate much reaction.
Wall Street is looking for payroll growth of 185,000, with the unemployment rate likely to drop a tick to 4.8 percent.
The Federal Reserve also will be watching the number closely as it weighs whether to enact another interest rate hike after moving its target up a quarter point in December.