Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace, Reuters reported citing a preliminary business survey.Asia Marketsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
See which stocks are posting big moves after the bell.Market Insiderread more
"I'd love to say that the optimistic universe is most likely to prevail, but the talking heads talk endlessly about how a recession is inevitable," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
MERIDIAN, Miss., May 10 (Reuters) - The U.S. Federal Reserve might need to cut interest rates if an escalating trade war with China drags on and leads consumers to cut spending in response to higher prices, a Fed policymaker said on Friday.
"I'm open to doing whatever it takes to keep us on target," Atlanta Federal Reserve President Raphael Bostic said, referring to the prospect of the trade conflict leading the Fed astray of its targets of full employment and 2 percent inflation.
Asked if this could include interest rate cuts, Bostic said: "Depending on the severity of the response it could." (Reporting by Jason Lange Editing by Chizu Nomiyama)