A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
"You need to understand that we're about to embark on the busiest week of the year for industrial earnings," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can...The Fedread more
The MTA reported that the 1, 2, 3, 4, 5 and 6 trains are all facing delays due to a network communications issue impacting service in both directions, NBC New York reports.Transportationread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
US officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and...Technologyread more
Trump's constant berating of the Fed and its actions does not influence the central bank's decisions, Boston Fed's Eric Rosengren says.The Fedread more
The lawsuits allege J&J's talc-based baby powder contained asbestos and caused ovarian and other cancers.Health and Scienceread more
President Donald Trump's tariffs will damage the economy to some extent, and if NAFTA talks break down it could be even worse, CNBC senior contributor Larry Kudlow said Thursday.
Earlier in the day, the president announced the U.S. will impose a 25 percent tariff for steel and a 10 percent tariff for aluminum as early as next week.
While it won't unwind all the good work Trump's done on his agenda, like tax reform, "it's a bad omen," Kudlow told "Closing Bell. "
"He's so good on tax cuts. He's so good on deregulation, infrastructure. I even like him on immigration. He's never been good on trade," he added.
One big issue is the North American Free Trade Agreement with Canada and Mexico, which Trump has repeatedly threatened to leave. Both Canada and Mexico make steel, Kudlow pointed out.
While the tariffs may annoy them, it could be a different story if NATFA negotiations fall apart, he said.
"We're already hanging by a toenail on NAFTA. If we have to walk out of NAFTA or those negotiations totally break down, then this steel thing turns from a minor irritant to a major calamity for our economy and our stock market. Make no doubt about that," he warned.
Kudlow said he has expressed his anti-tariff views with Trump but this time the protectionists in the administration won.
Proponents of the tariffs argue they will help create jobs and boost the economy. Century Aluminum CEO Michael Bless told CNBC earlier Thursday that his company plans to hire 300 people and invest $100 million in its plant in Kentucky, thanks to the new tariffs.
However, while there are about 200,000 workers in the U.S. steel, aluminum and iron industries, there are 5.5 million people employed by businesses that use steel, Kudlow said.
There are also 154 million Americans who work, and they are going to be affected by price increases on products, thanks to steel price hikes, he said.
"In theory, if you raise the tariff by 25 percent, the price can go up by 25 percent," he said.