Home Depot's CEO says the retailer cut its outlook partly due to "the potential impacts to the U.S. consumer arising from recently announced tariffs."Retailread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
While the U.S. gave Huawei a 90-day reprieve, allowing American businesses to keep selling specific products to the Chinese firm, it also added more affiliates of the...Technologyread more
Dow set to drop; White House denies payroll tax cut report; China tweaks interest rates; Home Depot worries about trade war; Beyond Meat gets an upgradeMarketsread more
Energy stocks may be fueling up for a comeback rally. One technical analyst says that after the sector's pummeling, these two stocks look particularly good.Trading Nationread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Porsche and Apple believe music streaming is the next advancement for in-car entertainment. The luxury automaker and tech giant are teaming up to allow drivers of the all-new,...US: Consumer Servicesread more
J.P. Morgan advised clients in a note early Tuesday that it was time to buy shares of Beyond Meat again.Marketsread more
U.K. Prime Minister Boris Johnson told the EU that a Brexit deal can still be approved by U.K. lawmakers if Brussels agrees to scrapping the contentious Irish "backstop."read more
Baidu posted better-than-expected earnings for the June quarter, swinging back to profit and managing to stabilize its core ad business.Technologyread more
Investors should be wary of claims that China will foot the bill for higher tariffs, CNBC's Jim Cramer said. Rather, those costs will fall on American consumer, and investors should adjust their portfolios accordingly.
"As long as President [Donald] Trump believes that the Chinese are the ones who pay the price, he's going to keep taking a hard-line approach to these negotiations, and that means your portfolio should have as little exposure to China as possible, " the "Mad Money" host said.
Portfolio managers have found the market to be a tough place to shop for stocks as Wall Street sorts out the safe names and reassess earnings forecasts for companies affected by the U.S.-China trade war, Cramer said. He also warned that current uncertainty will be the "new normal" until the world's two largest economies come to some sort of agreement.
"Unfortunately, we have no idea when that might happen. People in this country are just starting to realize that President Trump has had it with the Chinese," Cramer said. "He's no desire to continue negotiating, even if they want to come to the table."
Trump's move to blacklist China's Huawei has placed pressure on the American semiconductors who supply components to the telecommunications giant.
Since the Trump administration's decision last Wednesday to impede business with Huawei, shares of Qualcomm have dropped nearly 12%, Micron Technology fell more than 10% and Analog Devices fell more than 10%. The VanEck Vectors Semiconductor ETF, a broad tracking of chipmakers, is down nearly 8% in that same time frame.
"That is an astonishing amount of pain to inflict on U.S. companies in order to make a statement that we're not going to let Huawei get ahead of us in the race for 5G. Some of these chipmakers get 5 to 10, well, even 15% of their sales from Huawei," Cramer said. "This is a big deal to shut them down from this account."
Google-parent Alphabet on Sunday cut its support for Android hardware and software in Huawei phones.The move also hurt shares of Alphabet, which fell more than 2% during Monday's session.
The stock market expects China's retaliation to be aimed at Apple, which employs more than 2 million people in the country, Cramer said. Shares of Apple plunged more than 3% Monday, and the host said he can't blame investors for being worried.