Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead 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 summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
After a plunge in manufacturing activity, the much bigger services sector showed a surprise, massive slowdown in growth in August, raising new warnings on the economy.
The ISM non-manufacturing index fell to 51.4, the lowest level since February, 2010. The index reports on a much broader swath of the economy than the manufacturing report, and therefore is more concerning if it is signaling a new trend in weakness. The services sector represents about 70 percent of the U.S. economy.
Stocks lost ground and Treasury yields immediately fell, as investors jumped into the safety of bonds. Bond prices move inversely to yield. The 2-year yield, the one most sensitive to the Fed, tumbled to 0.74 percent from 0.79 percent.
Fed funds futures immediately reduced odds sharply of a September rate hike. They had been around 35 percent for September, but fell closer to 25 percent after ISM non-manufacturing report, according to Jefferies. July's ISM was 55.5 and economists had expected a reading of 55. Below 50 is a sing of contraction.
Last week, August's ISM manufacturing data came in at a stunning 49.4, the lowest since January. The two reports bookend Friday's disappointing employment report, where job growth fell to a slower pace of 150,000, 30,000 fewer than expected.