The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
U.S. stock futures this morning were pointing to a continuation of Tuesday's late slide, which sent Wall Street to session lows in the final hour of trading, as ongoing U.S.-China trade tensions fueled worries about the outlook for global economic growth. The major stock measures are all but certain to post their first May losses since 2012, with the Dow and S&P 500 down nearly 5% for the month and the Nasdaq down 6% for the month. (CNBC)
* Falling bond yields rates send a warning signal to the stock market (CNBC)
The stock market and economic outlook in the U.S. are "deteriorating," according to an analysis from Morgan Stanley. Trade and a slump in economic data, ranging from falling durable goods and capital spending to a downshift in the services sector, has put U.S. profits and economic growth at risk, it warned. (CNBC)
Shares of rare earth miners in the Asia Pacific region surged today after Beijing made a veiled threat to Washington in their trade war about possibly withholding those materials, which are used in all kinds of high-tech consumer products and military equipment. (CNBC)
Huawei, caught in the crossfire of U.S.-China trade and technology disputes, is filing a "motion for summary judgement." In March, Huawei filed a lawsuit against the U.S., alleging a law that bans government agencies from buying the Chinese telecom giant's equipment is unconstitutional. (CNBC)
* ECB warns of sharp falls in asset prices if trade tensions escalate (CNBC)
* All signs are pointing to a 'tough year' for Chinese businesses (CNBC)
There are no government reports on today's economic calendar. Meanwhile, the Mortgage Bankers Association said home loan applications fell 3.3% last week, as spring housing season draws to a close. Mortgage refinance volume fell 6% for the week. (CNBC)
Dick's Sporting Goods (DKS) and Abercrombie & Fitch (ANF) are out with quarterly earnings this morning, while Palo Alto Networks (PNW) and PVH Corp. (PVH) issue their numbers after today's closing bell. (CNBC)
U.S. National Security Adviser John Bolton is visiting the United Arab Emirates today, tweeting that he's there "to discuss important and timely regional security matters." Meanwhile, Bolton said attacks on four tankers off the UAE coast earlier this month are most likely the work of Iran. (AP & CNBC)
* Trump undercuts Bolton on North Korea and Iran (New York Times)
The U.S. is telling Hong Kong to be on alert for a vessel carrying Iranian petroleum that may seek to stop in the Asia financial hub, warning that any services provided to the vessel would be in violation of U.S. sanctions. (Reuters)
Senate Majority Leader Mitch McConnell said he would seek to confirm any Trump nomination to the Supreme Court should a position open next year, despite rallying against former President Barack Obama's pick during an election year. (WSJ)
* McConnell called hypocrite after saying GOP would confirm justice in 2020 (New York Times)
Michael Wolff is releasing a sequel to 2018's "Fire and Fury: Trump in the White House," to be published next week. In it, former White House adviser Steve Bannon describes the Trump Organization as a criminal entity and calls the president "just another scumbag." (Guardian)
Boeing's (BA) 737 Max jets may not return to service until August, said the head of the International Air Transport Association. The group plans to organize a summit of regulators and airlines in five to seven weeks to discuss what may be needed to allow the 737 Max to fly again. (CNBC)
Toyota (TM) is considering an investment of about $550 million in China-based ride-hailing company Didi Chuxing, according to Japan's Nikkei business daily. Japan's top automaker was also looking to set up a new mobility-services company in China. (Reuters)
A vicious storm tore through the Kansas City area, spawning tornadoes that downed trees and power lines, damaged homes and injured at least a dozen people last night. The storms in Kansas City were the 12th straight day that at least eight tornadoes were reported to the National Weather Service. (AP)
Oklahoma state prosecutors blasted Johnson & Johnson (JNJ) and other opioid manufacturers in the first day of a landmark opioid trial, saying they ran a "deceitful, multibillion-dollar brainwashing campaign" that led to more than 46,000 deaths in the state over a decade. (CNBC)
The store closures just keep coming, from Dressbarn, CVS, Party City, Pier 1 Imports, and more. Already, more than 7,150 store closures have been announced by U.S. retailers in 2019, according to Coresight Research. (CNBC)
Bed Bath & Beyond (BBBY) settles a months long spat with a trio of activist investors today, saying it will nominate four new members to its board. The retailer also agreed to form a committee that will explore the potential sale or spin-off of underperforming businesses, according to CNBC sources.
Workday (WDAY) earned an adjusted 43 cents per share for its latest quarter, beating estimates by 2 cents. The maker of human resources software also saw revenue come in above forecasts, as it signed up more business subscribers.
T-Mobile (TMUS) and Sprint (S) could sell the prepaid wireless brand Boost Mobile for up to $3 billion, according to interested bidders who spoke to Reuters. The sale of Boost is among the concessions offered to win FCC approval of the deal.
Devon Energy (DVN) announced the sale of its Canada business to Canadian Natural Resources for $2.8 billion. Devon plans to use the proceeds to reduce debt.
Uber Technologies (UBER) CEO Dara Khosrowshahi told the German newspaper Handelsblatt that the ride-hailing company will not achieve profitability in the next year or two, but that it will come.
Heico (HEI) reported quarterly profit of 60 cents per share, 11 cents above estimates, with revenue well above forecasts as well. The aircraft parts maker also raised its financial forecast for the year.
For those of you in New York, get ready for "the best sunset picture of the year." Twice a year, the sunset lines up with Manhattan's street grid, allowing the sun's rays to illuminate the city's streets and buildings. Head outside tonight and tomorrow at 8:12 p.m. ET. (New York Times)