Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
UBS slashed Pfizer's rating to neutral from buy on Wednesday, citing the so-called "patent cliff" in the coming years on key products that would greatly offset revenue growth. The bank also cut its 12-month price target for Pfizer to $46 from $48.5.
"Xeljanz, Ibrance, Xtandi, Eliquis and Tafamidis totalling $20 billion of sales (about 30 percent of total revenue in 2015) all lose patent protection from 2025 to 2029 and our valuation blend of discounted cash flow and price per earnings does not ignore this dynamic," UBS' pharmaceuticals analyst Navin Jacob said in a note.
BMO downgraded Merck to market perform from outperform, saying Wall Street's expectations for the drugmaker are too high given its over-dependence on the drug Keytruda. The bank kept its price target for Merck unchanged at $80.
"We've been Merck bulls because of Keytruda; however, the Street's Keytruda expectations are now meaningfully above ours, and seem to overlook competitive risks. We expect four to five competitor IO trial readouts in 2019 that have the potential to produce competitive results, and increase uncertainty," BMO's pharmaceuticals analyst Alex Arfaei said in a note.
Shares of Pfizer fell 1 percent to $41.95 in per-market trading on Wednesday, while Merck stock is down 1 percent to $75.15. Both companies outperformed the market last year as Pfizer returned more than 20 percent and Merck gained 35 percent.