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
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread 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
"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
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
Tesla solar panels ignited at an Amazon warehouse in Redlands, California in June 2018, Bloomberg reports. The news comes days after Walmart sued Tesla for at least 7 fires...Technologyread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
Ahead of the long Memorial Day holiday weekend, U.S. stock futures were pointing to a rebound at today's Wall Street open. But even if the premarket indications were to hold by the Friday close, the Dow would post a fifth consecutive losing week for the first time in eight years. On Thursday, U.S.-China trade concerns sent the Dow down 286 points. (CNBC)
President Donald Trump predicted a swift end to the ongoing trade war with China, although no high-level talks have been scheduled between the two countries in two weeks. "It's happening, it's happening fast," Trump said, without providing any evidence. (CNBC)
* Trump: 'I can imagine Huawei being included' in a US-China trade deal (CNBC)
* China denounces US 'rumors' and 'lies' about Huawei ties to Beijing (CNBC)
* Hong Kong-based Lenovo: We're 'well-prepared' if US slaps more tariffs on China (CNBC) "
* Shipping giant warns of 'considerable uncertainties' as trade tensions rise (CNBC)
The only economic report of the morning comes at 8:30 a.m. ET, when the government releases April durable goods orders. On today's earnings calendar, Foot Locker (FL), Hibbett Sports (HIBB), and The Buckle (BKE) are out with quarterly results this morning. There are no reports of note due out after today's closing bell.
* China trade war leads to lower mortgage rates for US homebuyers (CNBC)
Amazon (AMZN) shares will reach $3,000 each between mid-2021 and mid-2022, according to a Piper Jaffray analyst report. Piper said that this move, which would be a more than 60% jump from current levels, is based on Amazon meeting what it considers conservative growth targets.
Theresa May announced today she's stepping down as UK prime minister, effective June 7. May said she had "done everything" she could to convince members of parliament to back her Brexit withdrawal plan. Former Foreign Secretary Boris Johnson, a Brexit hard-liner, is the favorite to replace her. (CNBC)
Trump is expected to release an executive order as early as next week to mandate the disclosure of prices in the health-care industry. The order could pursue actions to divulge cost data and tackle regional monopolies of hospital and plans. (WSJ)
* Trump orders intelligence agencies to cooperate with attorney general's investigation into origins of Mueller probe (CNBC)
The FAA said there's no schedule for re-certifying Boeing's 737 Max and getting the plane back in the air, after the agency held discussions with aviation regulators from around the world. (CNBC)
SpaceX sent a packed rocket of 60 satellites into space, in a key first mission toward building the company's own high-speed internet network. The launch was SpaceX's heaviest payload ever, CEO Elon Musk told reporters before the mission. (CNBC)
Harvey Weinstein, the Hollywood mogul accused of sexual misconduct stretching back decades, has reached a tentative $44 million deal to settle civil lawsuits by alleged victims, according to multiple reports. (CNBC)
Three more parents in the college admissions scandal are expected to plead guilty today, joining 16 other defendants who have pleaded guilty since March in the case. (USA Today)
Deutsche Bank (DB) is planning cuts at its U.S. equities business, including prime brokerage and equity derivatives, to win over shareholders unhappy about its performance. (Reuters)
HP Inc. (HPQ) reported adjusted quarterly earnings of 53 cents per share, beating estimates by 2 cents. The computer and printer maker's revenue also beat forecasts, and it issued a current quarterly outlook roughly in line with consensus.
Hewlett Packard Enterprise (HPE) came in 5 cents above forecasts with adjusted quarterly profit of 42 cents per share, although the business technology provider saw revenue fall short of analyst estimates. The company did, however, raise its financial targets for the full year.
Ross Stores (ROST) earned an adjusted $1.13 per share for its latest quarter, a penny above estimates, while the discount retailer's revenue also beat forecasts. However, Ross gave weaker-than-expected current quarter guidance as it deals with underperformance in women's apparel as well as higher freight and wage costs.
Deckers Outdoor (DECK) earned an adjusted 85 cents per share for its latest quarter, well above estimates of 8 cents, and the footwear maker's revenue also beat forecasts. Bottom line results were helped by an increase in gross margins.
Autodesk (ADSK) earned an adjusted 45 cents per share for the first quarter, 2 cents below estimates, with the software maker's revenue also missing forecasts. However, its results improved over year-ago numbers as it increased subscription revenue.
Intuit (INTU) beat consensus estimates by 15 cents with fiscal third-quarter profit of $5.55 per share, with the TurboTax software maker's revenue also above estimates. The company also raised its full-year forecast.
Sony's action comedy "Men in Black: International" is tracking for a $40 million opening in the box office. Emma Thompson, Chris Hemsworth, Tessa Thompson, Kumail Nanjiani, and Rebecca Ferguson all make appearances in the movie that launches over the June 13 weekend. (Variety)