British Prime Minister Theresa May is expected to make a final attempt at persuading lawmakers to back her "new" Brexit deal on Wednesday but the agreement — and May's...Europe Politicsread more
Consumers in China are taking to social media to express their support for Huawei as the U.S. government looks to ramp up pressure on the Chinese smartphone maker.Technologyread more
Tensions between the two parties have heightened in recent months as the campaign for seats in the Brussels and Strasbourg-based parliament has crescendoed.Europe Politicsread more
Shares of Saudi shopping mall operator Arabian Centres were trading at 24.34 riyals ($6.49) in early deals in Riyadh.IPOsread more
There is at least one thing in common between the U.S. and Russia – their willingness to weaken the European Union, a top EU official said.Politicsread more
U.S. President Donald Trump's latest tariff increase — and Beijing's plans to counter them — are hitting U.S. companies in China, according to a joint survey this month by...China Economyread more
"We are also constantly watching whether the trade war will turn into a tech war," Ma said Tuesday, according to a CNBC translation of his Chinese remarks published by a locak...China Economyread more
TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.Technologyread more
Indian Prime Minister Narendra Modi's likely return to power for a second term will likely be positive for his country's growth, according to economists and investors.Asia Economyread more
Kohl's, J.C. Penney and Nordstrom release disappointing earnings news, putting a damper on their sector.Retailread more
"Pretty much the entire suite of apps that 'talk' over the internet could be vulnerable," said Tom Uren, a senior analyst at the Australian Strategic Policy Institute's...Cybersecurityread more
President Donald Trump's plan to slap tariffs on foreign aluminum and steel sparked a big sell-off in the stock market. Investors are concerned the tariffs may start a global trade war.
The Dow Jones industrial average declined 420 points after Trump said on Thursday the U.S. will impose tariffs of 25 percent for steel and 10 percent for aluminum as early as next week.
Goldman Sachs gave its clients a specific game plan last year to play this big moment for the markets.
The firm warned its clients then that if Trump does implement a protectionist trade policy, it could start a global trade war and lead to a market drop.
"One potential risk to our central case is that global growth slows, or profits are hit, by increased US tariffs on trade and the possibility of an escalating global trade war," Goldman's chief global equity strategist Peter Oppenheimer wrote in a note to clients in July of 2017.
In the event of the conflict, Oppenheimer recommended investors buy companies with higher domestic sales exposure.
"Below the surface of the market, trade conflict would benefit the performance of the most domestic-facing U.S. stocks relative to the most foreign-facing firms," he wrote.
Here are seven companies in Goldman's domestic sales basket that the strategist recommended.
Four out of the seven stocks in the basket above rose Thursday. CSX traded up 1.5 percent and was the biggest gainer out of the names.
Note: Goldman's domestic sales basket list is as of January 2017.