"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
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Yields slipped after Powell said that the central bank will continue to act as appropriate to sustain the economic expansion.Bondsread 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
The president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
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The two American car companies are among the top exporters of U.S.-produced vehicles to China along with BMW and Daimler/Mercedes-Benz, according to industry data obtained by...Autosread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them to find alternatives to their Chinese operations.Marketsread more
Powell repeats his pledge to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
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Citi upgraded Morgan Stanley to buy on Friday and said if the Fed cuts rates as expected, that it will "spur capital markets activity."
The firm also said it expects two rate cuts in 2019 and 2020 and raised its target price on the investment bank to $52 from $48.
"While 2Q19 is expected to be a difficult quarter, we think this is largely priced in with an implied cost of equity of 12.4%, and see it as an opportunity to increase exposure to a high quality franchise with limited rates exposure," Citi analyst Keith Horowitz said.
"We see Morgan Stanley net income growth of 2-3% over the next two years by continuing to gain market share in both its institutional and retail franchises, which compares more favorably against the flat to slightly declining net income growth among the rest of the bank universe."
Shares of Morgan Stanley are up 1.29% to $44.75 in premarket trading. The firm will report its second quarter earnings on July 18. The shares have underperformed the market the last three months, down 5% on concern lower rates will hurt profits for banks.