CSX said it expects revenue to fall as much as 2% in 2019, well below a previous forecast of an increase of 1% to 2%.Marketsread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
The growth in net interest income, a main engine of the industry's profit, looks to slow to a halt in the back half of this year.Banksread more
Amazon also said that on Monday and Tuesday it sold more Amazon devices — like the Echo Dot, the Fire TV Stick and Alexa Voice Remote — over a two-day period than it ever has...Retailread more
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If the S&P 500 climbs another 4%, it will have doubled the peak reached in the previous bull market, Michael Santoli notes.Trading Nationread more
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Netflix reports earnings Wednesday as it loses licensed shows to rivals launching their own streaming services.Technologyread more
Hedge fund manager Kyle Bass reportedly thinks that U.S. interest rates will plummet toward zero in 2020 as the economy heads for recession.Hedge Fundsread more
Shares of beauty and wellness products company Nu Skin tanked on Wednesday after the company said China's crackdown on health products is weighing on sales.Investingread more
Buying stocks when they are this expensive has historically led to lower returns, data compiled by Ned Davis Research shows.Marketsread more
Ross also said it's too early to tell whether the United States will withdrawal from the World Trade Organization.
"We've made no secret of our view that there are some reforms needed at the WTO," Ross said in a " " interview.
He continued: "There really is a need to update [or] synchronize its activities, and we'll see where that leads. But I think it's a little premature to talk about simply withdrawing from it."
Axios reported the Trump administration has drafted a bill that allows the White House to unilaterally raise tariffs without congressional consent. That means the world's largest economy would be acting outside WTO rules.
Ross has repeatedly defended the administration's aggressive approach on tariffs, saying it will deter allegedly unfair trade practices that Trump pledged to end.
Ross late last month by Senate Republicans and Democrats over what they called a confusing and damaging Trump administration process of imposing tariffs.
The Commerce Department under Ross first imposing heavy tariffs or quotas on foreign producers of steel and aluminum in February in the interest of national security.
Since then, those steel and aluminum tariffs have been enacted on numerous nations, including allies Canada, Mexico and the European Union, which have launched retaliatory measures.
New tariffs from Canada were imposed over the weekend on about $12.5 billion worth of U.S. products.
Meanwhile, the president is threatening tariffs on European auto imports.
The U.S. could get a new round of retaliatory tariffs worth as much as $300 billion, if it moves ahead with new duties on European cars, according to The Financial Times.
The Trump administration is also putting pressure on China on the trade front, by threatening tariffs set to go into effect on Friday. If that happens, China has promised tariffs on the U.S.