These are the stocks posting the largest moves before the bell.Market Insiderread more
The Fed cut interest rates by a quarter point, but it also reaffirmed its rate cut was meant to serve as insurance for the economy.Market Insiderread more
Investors are asking how the world's third-largest defense spender could have left itself so vulnerable and what that means for the future.Politicsread more
The presidential campaign is "going to be very tough," the former chief White House strategist.Politicsread more
Gelson's, an upscale grocery store chain with 27 locations across Southern California, will sell 12-ounce packages of the Impossible Burger.Food & Beverageread more
Huawei launched a new 5G flagship smartphone lineup Thursday without pre-installed Google-licensed apps as the Chinese tech giant faces fallout from a U.S. blacklist earlier...Technologyread more
The Candytopia and Toys R Us partnership will open in late October in Chicago and Atlanta. The exhibits will stay open through the 2019 holidays, before moving on to different...Retailread more
Initially introduced in March 2018, the "Worker Dividend Act" requires firms to distribute the value of its stock buybacks dollar-for-dollar.2020 Electionsread more
A spokesperson for Sen. Mark Warner, D-Va., said he helped organize the dinner in D.C. at the request of Facebook.Technologyread more
The data pointed to strong labor market conditions that should continue to support a moderately growing economy.Economyread more
President Donald Trump's threat to impose tariffs on metal imports could create a perfect storm for oil prices to crash, according to one strategist.
Stephen Brennock, oil analyst at PVM Oil Associates, said such protectionist tariffs were a "major threat" to the demand side of the oil equation and would likely prompt a "vicious cycle" of downward pricing pressures. He added the move would be a "sure-fire" way to undermine economic trade and growth.
"Economic optimism and oil consumption go hand-in-hand, therefore, any adverse impact on the health of the global economy will dampen oil demand growth prospects … In short, a trade war would be a recipe for lower oil prices," Brennock said via email on Wednesday.
Trump's shock proposal last week to impose 25 percent tariffs on steel imports and 10 percent tariffs on aluminum demonstrated that he was putting into practice the protectionist policies he championed during his election campaign. Although the U.S. president highlighted national security as a reason for the move. The announcement set off a wave of uncertainty in markets, with stocks declining Wednesday as traders absorbed the developments.
Concern among investors was further exacerbated by Tuesday's resignation of top White House economic advisor, Gary Cohn. The Wall Street veteran was thought to be a bulwark against protectionist trade policies.
Brent crude futures and West Texas Intermediate (WTI) futures both fell more than 2 percent in the previous session as oil prices continued to move in tandem with the equity market.
"Unsurprisingly, the prospect of a global trade war does not bode well for the oil market. Evidence of this has been made plain by the recent sell-off on stock markets which weighed on sentiment across the energy complex," Brennock said.
The U.S. administration has since said it could offer Mexico and Canada a 30-day exemption from the planned tariffs, with an option to extend the deal depending on progress in NAFTA talks. Trump is expected to sign a presidential proclamation to establish the proposed tariffs before the end of the week.
Chris Main, oil and gas analyst at Citi, told CNBC that it remained "difficult to gauge" exactly how a full-blown trade war could impact the energy market.
The decision making progress regarding the tariffs remains in its "beginning phase and so it is unlikely to have a material impact on oil prices … But it can all change very quickly," he said during a phone interview with CNBC on Thursday.
Brent crude traded at around $64.06 on Thursday, down nearly 0.5 percent, while U.S. WTI crude was at $61.02, off by 0.2 percent.