"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
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Yields slipped after Powell said that the central bank will continue to act as appropriate to sustain the economic expansion.Bondsread 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
The president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them to find alternatives to their Chinese operations.Marketsread more
Semiconductor stocks and shares of Apple slid on Friday after President Donald Trump said U.S. companies should "immediately start looking for an alternative" to their...Technologyread more
The two American car companies are among the top exporters of U.S.-produced vehicles to China along with BMW and Daimler/Mercedes-Benz, according to industry data obtained by...Autosread more
Powell repeats his pledge to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
These are the stocks posting the largest moves in midday trading.Market Insiderread more
Check out the companies making headlines midday Wednesday:
Apple — Apple gained 4.9% after the release of its fiscal second-quarter results. Apple reported earnings of per share of $2.46, 10 cents above a Refinitiv estimate. Revenue also topped expectations. Apple raised its revenue guidance for the next quarter to between $52.5 and $54.5 billion, surpassing analyst expectations.
Mondelez — Mondelez rose 1.6% following the release of its first-quarter financials. The Oreo cookie maker earned an adjusted 65 cents per share, compared to the 61 cents estimated by Refinitiv. The company's strong results were driven by strong organic sales growth.
Advanced Micro Devices — The chipmaker's stock rose as much as 5.5% on the back of stronger-than-expected first-quarter numbers. AMD said its earnings per share came in at 6 cents while sales clocked in at $1.27 billion. Analysts polled by Refinitiv expected a profit of 5 cents a share on sales of $1.262 billion. The stock later ended the day down nearly 3%, however.
Chubb — Shares of the insurance company fell 0.7% after its first-quarter numbers disappointed investors. Chubb reported earnings per share of $2.54 while the Street expected a profit of $2.56 per share, according to Refinitiv. Higher-than-expected catastrophe losses pressured the company's earnings.
Clorox — Clorox dropped 7.2% after the company reported lower-than-expected earnings. The consumer product company reported earnings of $1.44 per share, 1 cent below a Refinitiv estimate. Clorox cited more competition in in certain markets and said it will be "aggressively addressing" these issues.
CVS Health — Shares of the retail pharmacy company jumped 5.4% after the company reported strong first-quarter earnings and raised its full-year forecast. CVS reported adjusted earnings of $1.62 per share versus a Refinitiv estimate of $1.50. CVS also hiked its 2019 profit forecast to between $6.75 and $6.90 per share.
Estee Lauder — The beauty company reported better-than-expected quarterly results, sending its stock up as much as 4.9%%. Estee Lauder posted earnings per share of $1.55 on revenue of $3.744 billion. Analysts polled by Refinitiv expected a profit of $1.30 per share on sales of $3.569 billion. The company said a strong performance from its skin-care business boosted its numbers.
Take-Two Interactive — An analyst at Cowen upgraded the video-game maker to outperform from market perform, calling Take-Two "the best vehicle for exposure" in the space. Take-Two shares rose 2.3%.
ConocoPhillips — Shares of ConocoPhillips rose as much as 2.2% after an analyst at Credit Suisse upgraded the stock to outperform from neutral, stating that worries about the company are "overdone." ConocoPhillips shares closed down 0.7%, however.