Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
A federal judge in California has blocked President Donald Trump from building sections of his long-sought border wall with money secured under his declaration of a national...Politicsread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
The race is underway to find a vaccine that can control African swine fever, a highly contagious and deadly viral infection ravaging China's hog population. There is currently...Agricultureread more
New tariffs kicked in Friday just as the markets had feared, but stocks are hanging in there.
Stocks opened Friday's session only slightly lower despite a tweet storm by President Donald Trump, in which he said there was "no need to rush" on a trade deal.
That's because traders are holding onto the hope that there's still plenty of time to hatch a deal — as much as two weeks.
Multiple traders and market strategists cite the notion that the new tariffs are not applied to Chinese exports that were already in transit before the deadline, which provides extra time before tariffs are actually applied to goods hitting U.S. shores. That theoretically gives more time for the two sides to reach an agreement.
"Exports that have already left Chinese ports before May 10 will not be subject to the increase," Goldman Sachs economist Jan Hatzius said in a note to clients on Thursday. "This creates an unofficial window, potentially lasting a couple of weeks, in which negotiations can continue and generates a 'soft' deadline to reach a deal."
Trump followed through with his threat as tariffs on $200 billion of Chinese goods were raised to 25% from 10% at midnight. The market has had a tough week as the trade tensions intensified with the Dow Jones Industrial Average falling more than 650 points this week through Thursday.
"Stocks are trading very well despite this ostensibly negative news," Adam Crisafulli, a J.P. Morgan managing director, said in a note on Friday. "Investors are taking comfort in two details: 1) talks are set to continue Fri between US and Chinese officials in Washington and 2) the new 25% tariffs will only be placed on goods that left China as of 12:01amET (not those presently in transit) – this could provide some additional time for the two sides to reach an agreement."
However, things could get uglier since China's Commerce Ministry said immediately after the tariff hike that it would take countermeasures against the American move. Chinese Vice Premier Liu He also lost his "special envoy" title for the negotiations this week, suggesting he may have diminished authority to make concessions that could be key to striking a deal.