Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.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 that 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
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread 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
Check out which companies are making headlines before the bell:
Comcast – The NBCUniversal and CNBC parent reported adjusted quarterly profit of 52 cents per share, two cents a share above estimates. Revenue was slightly short of forecasts. The company said it lost 125,000 video customers during the quarter, although it gained 214,000 new high-speed internet customers, and that NBCUniversal continued its strong performance across its various businesses.
Twitter – Twitter earned an adjusted 10 cents per share for its latest quarter, four cents a share above estimates. Revenue also came in above forecasts. Daily active usage was up 14 percent year-over-year, although Twitter did adjust some prior monthly active user numbers lower due to some inadvertent double counting.
Ford – The automaker earned an adjusted 43 cents per share for the third quarter, 11 cents a share above estimates. Revenue exceeded consensus forecasts, as well. The company said profits were driven by strong performance in North America, and that year-over-year transaction prices rose more than twice the industry average. Ford also raised its full-year earnings forecast.
Southwest Airlines – The airline earned an adjusted 88 cents per share for the third quarter, one cent a share above estimates. Revenue was below forecasts. Profit was up almost 30 percent compared to a year earlier as passenger traffic increased.
Dunkin' Brands – The restaurant chain missed estimates by two cents a share, with adjusted quarterly profit of 61 cents per share. Revenue beat forecasts. An unexpected drop in comparable sales at Baskin-Robbins weighed on results, although comp sales did rise for Dunkin' Donuts. The company also announced a $650 million share repurchase program.
Restaurant Brands – The parent of Tim Hortons, Burger King, and Popeyes came in nine cents a share above estimates, with adjusted quarterly profit of 58 cents per share. Revenue came in above forecasts, as well. The company said the integration of Popeyes was going well and that recent initiatives at Tim Hortons are starting to have a positive impact.
Nokia – The telecom equipment maker said sales in its primary market will be worse than expected for the rest of the year and will decline by up to five percent in 2018.
Amgen — The biotech giant reported adjusted quarterly profit of $3.27 per share, 16 cents a share above estimates. Revenue was very slightly above forecasts, and the company did raise its full-year outlook as it lowers costs and improves operating margins. Investors are concerned, however, about weaker-than-expected sales for several key drugs.
Las Vegas Sands – Las Vegas Sands beat estimates by nine cents a share, with adjusted quarterly profit of 77 cents per share. The resort operator's revenue beat estimates, as well. The quarter's results were helped by the continuing recovery in the Macau gaming market.
Buffalo Wild Wings – Buffalo Wild Wings reported adjusted quarterly profit of $1.36 per share, beating the consensus estimate of 79 cents a share by a wide margin. Revenue came in below Street forecasts. The restaurant chain said its results have been helped greatly by a shift from traditional to boneless chicken wings, which helps control costs.
ADP – ADP is in the spotlight once again today, as proxy advisory firm ISS endorses activist investor Bill Ackman's bid for three seats on the ADP board. The board vote will take place at the payroll processor's annual meeting on November 7.
Citrix Systems – Citrix came in 18 cents above estimates with adjusted quarterly profit of $1.22 per share, though the enterprise software maker's revenue was slightly shy of forecasts. The company has been battling back against a claim by Morgan Stanley analysts that it is "secularly challenged."
Deutsche Bank – Deutsche Bank reported better-than-expected profit for its latest quarter, even amid a weak market, a restructuring, and a profit decline from a year earlier. The bank was helped by cost cuts amid what it calls a "challenging" environment.
STMicroelectronics – STMicro topped analysts' forecasts on both the top and bottom line, with the Apple supplier also raising its full-year outlook. The chipmaker is likely to post its first double-digit annual sales growth since 2010.
Anheuser-Busch InBev – The company increased its cost-saving target from its takeover of SABMiller, and reported an increase in the key Brazilian market profits for the first time in nearly two years. The world's largest beer brewer now sees $3.2 billion in savings from the SABMiller deal, compared to its prior projection of $2.8 billion.
Tesaro – The drugmaker said the Food and Drug Administration has approved an intravenous version of its Varubi drug, used to treat nausea caused by chemotherapy.
CSX – CSX postponed a planned October 30 investor conference to a later date, and also said its board had approved a $1.5 billion share buyback. The rail operator is in the midst of a significant restructuring under new Chief Executive Officer Hunter Harrison.
Supervalu – Supervalu is under pressure from activist investor Blackwells Capital to sell a significant number of stores and bring in new management. Blackwells is one of the supermarket operator's 10 biggest shareholders.