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
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US 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
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
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia 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
Check out the companies making headlines after the bell:
Shares of L Brands surged nearly 13% in extended trading on Wednesday after the parent company of retailers Victoria's Secret and Bath & Body Works reported first-quarter results that surpassed expectations. The company reported earnings of 14 cents per share on revenue of $2.63 billion. Wall Street had expected the company to break even, and to report revenue of $2.56 billion, according to Refinitiv consensus estimates. L Brands raised the lower end of its guidance for the current fiscal year.
L Brands reported flat comparable sales, while analysts had expected sales to fall 1.3%. Comparable sales of Bath & Body Works, alone, jumped 13%, compared with the expected 5.2% increase.
Brazil-based cosmetics firm Natura announced it will buy Avon Products in an all-stock deal, and shares of Avon soared 16% after hours. The deal values cosmetics company Avon at approximately $1.6 billion. The stock had already gained 9% during the regular trading session.
NetApp stock plunged more than 6% after the data services and management company reported earnings for its fiscal fourth quarter that missed estimates on the top and bottom lines, as well as weak first-quarter guidance. NetApp reported earnings of $1.22 per share and revenue of $1.59 billion, while analysts had expected earnings of $1.26 per share and revenue of $1.64 billion, according to Refinitiv consensus estimates.
The company expects earnings per share between 75 cents and 86 cents for its fiscal first quarter, lower than the Street estimate of $1.04 per share.