Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
The major stock indexes rebounded Thursday as a rally in some of Wall Street's largest technology names carried the Nasdaq Composite to an all-time high at the start of the corporate earnings season.
The tech-heavy Nasdaq rose 1.4 percent to 7,823.92 as Facebook and Amazon, both reached all-time highs. Microsoft and Alphabet also hit intraday records. The Nasdaq also posted its biggest one-day gain since June 1, when it rose 1.5 percent. Netflix did not participate in the broad tech rally, however, falling more than 1 percent.
The Dow Jones Industrial Average rose 224.44 points to close at 24,924.89 with Cisco Systems and Intel as the best-performing stocks in the index. The gained 0.9 percent to 2,798.29 with tech advancing 1.8 percent.
Equities rebounded from a steep sell-off on Wednesday sparked by a potential escalation in a trade war between the U.S. and China. The U.S. unveiled on Tuesday a list targeting $200 billion worth of Chinese goods for a 10 percent import tariff. Stocks fell sharply on the news, with the Dow snapping a four-day winning streak.
Eric Freedman, chief investment officer at U.S. Bank Wealth Management, said the lack of an immediate response by China is a positive for the market. He also noted that, while these tariffs are aimed at several Chinese imports, "the mixture of goods is different from that of the first round of tariffs. Also, they don't come into effect until August."
The Chinese commerce ministry said Thursday that China has not been in touch with the U.S. about restarting trade talks, but noted that China does not want a trade war. A spokesman for the ministry said, however, China does not fear a trade war.
Last week, the U.S. slapped tariffs on $34 billion of Chinese goods. China responded to the tariffs by imposing its own retaliatory levies on imports from the States.
Investors also shifted their focus toward earnings and data, taking a breather from trade war concerns. On the earnings front, Delta Air Lines reported better-than-expected quarterly results. Analysts expect second-quarter earnings to have grown by 20 percent on a year-over-year basis, according a FactSet forecast.
"It will be healthy for the market to take a breather and let the earnings catch up to the price," said Tim Courtney, chief investment officer at Exencial Wealth Advisors. "The market is being driven by news lately." He also said he expects this earnings season to be a strong one.
Weekly jobless claims fell to 214,000 last week and the consumer price index rose at its fastest pace in six years.