The Philadelphia Fed saw its primary gauge measuring the sector jump from 0.3 in June to 21.8, far better than Wall Street estimates of 5 and the highest in a year.Economyread more
Stocks fell for a third straight day on Thursday as Wall Street digested a mixed batch of corporate earnings results.US Marketsread more
It's tempting to view Netflix as a possible replacement for the entire media ecosystem. But execs on its Q2 earnings call showed lower ambitions: It just wants to create the...Technologyread more
These are the stocks posting the largest moves midday.Market Insiderread more
Netflix blames its content slate, regional price increases and a "pull-forward effect" of its strong Q1 growth for the miss.Technologyread more
Jeffrey Epstein, a former friend of presidents Donald Trump and Bill Clinton, had asked a judge to release him on a bond of as high as $100 million or more.Politicsread more
Nancy Pelosi and House Democrats contend the $15 per hour minimum wage bill will lift workers who have not seen the benefits of a strong economy.Politicsread more
The strengthening of the president's formidable campaign war chest has led his organization, along with the Republican National Committee, to raise over $100 million in the...2020 Electionsread more
Treasury Secretary Steven Mnuchin says if the call goes well, he would expect in-person meetings to take place.Marketsread more
The filing came a day after the judge in Michael Cohen's criminal case ordered their release, saying that the end of a probe into those payments to alleged sexual partners of...Politicsread more
Toys R Us is opening two permanent stores in November — at Simon Property Group's Galleria mall in Houston and at Unibail-Rodamco-Westfield's Garden State Plaza mall in...Retailread more
Walmart will start to hike prices soon in response to the escalating trade war between the U.S. and China, former Walmart U.S. CEO Bill Simon predicted on Friday.
"So far, Walmart's been able to absorb a lot of the pricing, and the question is how long can they do that and whether they actually should," Simon said on CNBC's "Closing Bell. "
"As the cost of goods go up in any other way or any other model, the costs are mitigated and they are passed through … You'll see Walmart start to do that soon," he added.
Trump's latest move came earlier this week, when he announced 10 percent tariffs on $200 billion in Chinese goods. The duties will rise to 25 percent on Jan 1.
Beijing retaliated with tariffs on $60 billion worth of American products.
Walmart wrote its letter to Lighthizer two weeks ago, before the latest tariffs were revealed.
Walmart warned it may hike prices on a wide range of products, including food and personal care items.
"As the largest retailer in the United States and a major buyer of U.S. manufactured goods, we are very concerned about the impacts these tariffs would have on our business, our customers, our suppliers and the U.S. economy as a whole," Walmart wrote.
Target was also among those pushing back against the tariffs. In its letter, dated Sept. 6, the retailer said it was "deeply troubled" by the trade war, which it said raises prices on everything from backpacks to playpens.
"The prices have to be passed through eventually, and I think most retailers are starting to make plans to do that," Simon said.
Plus, "for tariffs to have any effect at all the consumer has to feel it and change their buying behaviors so that then retailers and manufacturers would change."
— CNBC's Dawn Kopecki and Reuters contributed to this report.