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
Check out the companies making headlines midday Tuesday:
Alphabet — Shares of Alphabet tanked 7.5%, posting its worst day since Dec. 1, 2008, after the Google parent posted weaker-than-expected quarterly results. The company posted revenue of $36.34 billion in the first quarter, versus $37.33 billion expected per Refinitiv. The revenue was dragged down by the decelerating ad sales growth at Google.
McDonald's — Shares of McDonald's climbed 0.23% after the burger chain posted first-quarter earnings and revenue that topped analysts' expectations. Global same-store sales grew 5.4% in the first quarter, more than the 3.4% increase analysts expected, according to Refinitiv.
General Electric — Shares of General Electric rose more than 4% after the company reported better-than-expected first-quarter earnings. The conglomerate posted earnings of 13 cents a shares, above Wall Street consensus of 9 cents a share, according to Refinitiv. Revenue also came above expectations.
Texas Roadhouse — Shares of the restaurant chain plunged more than 11% after the company reported worse-than-expected first-quarter earnings. The company posted earnings of 0.7 per share, below FaceSet consensus of 0.81 per share. Revenue also came in below estimates.
Chevron — Chevron's stock rose about 2% after Berkshire Hathaway committed $10 billion to Occidental Petroleum shares to complete its acquisition of Anadarko Petroleum. The market saw that endorsement from Warren Buffett as giving an edge to Occidental's bid over a rival offer from Chevron. Shares of Anadarko dipped 0.3% while Occidental's stock fell 2%. Chevron rose because of perceived cost savings from not having to complete the deal for Andadarko.
Pfizer — The pharmaceutical company reported better-than-expected quarterly results, sending its stock up 2.6%. Pfizer posted earnings per share of 85 cents on revenue of $13.118 billion. Analysts polled by Refinitv expected a profit of 75 cents per share on sales of $12.991 billion.
MGM Resorts International — MGM Resorts shares sunk 7% after the hospitality company's first-quarter numbers missed analyst expectations. Earnings per share clocked in at 5 cents, whereas analysts were expecting 21 cents. The company's revenue beat expectations, however, earning $3.18 billion, as compared to $3.13 billion expected by Refinitiv.
Yum China — Shares of Yum China rose 6.2% after the restaurant company released better-than-expected first-quarter earnings. The parent company of Pizza Hut and Kentucky Fried Chicken reported earnings of 59 cents per share, 5 cents higher than expected, and revenues of $2.3 billion, $40 million higher than expected. The company reported same-store sales increased 4%, versus estimates of a 1.8% increase.
MasterCard — Shares of MasterCard rose 2.9% after the company reported better-than-expected first-quarter earnings. The company reported earnings of $1.78, 12 cents higher than expected, and revenues of $3.889 billion, $33 million higher than expected, according to Refinitiv. Mastercard also reported a 26.7% increase in quarterly profits, citing a strong U.S. job market and an rise in online shopping, which boosted transaction volumes.