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
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
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
Supreme Court Justice Ruth Bader Ginsburg has completed a three-week course of radiation therapy for cancer, the top court said in a statement Friday.Politicsread 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
Check out the companies making headlines after the bell:
Shares of technology companies Facebook, Alphabet and Amazon all fell more than 1% after the U.S. Department of Justice said it is opening a broad antitrust review of big tech companies. Apple's stock also ticked down following the report. The review is the biggest move yet by Attorney General William Barr to impose greater regulation on the sector.
Snap soared more than 12% in after-hours trading after the parent company of Snapchat reported second-quarter earnings that surpassed Wall Street's estimates. The company reported a smaller-than expected loss per share of 6 cents on revenue of $388 million. Analysts polled by Refinitiv were expecting a loss per share of 10 cents on revenue of $360 million. The app developer's user base grew to 203 million daily active users, and the company reported a gross margin of 46%, well above the 30% gross margin reported a year prior.
Shares of Chipotle Mexican Grill climbed nearly 4% after the food chain reported second-quarter earnings that beat analysts' expectations and increased its full-year outlook for same-store sales growth. The company reported adjusted earnings per share of $3.99 on revenue of $1.43 billion, versus the earnings per share of $3.76 and $1.41 billion in revenue that analysts had expected, according to Refinitiv. The burrito maker reported that its digital sales nearly doubled during the quarter. Chipotle expects sales at restaurants open at least a year to increase at a high-single-digit rate, topping a prior estimate of mid-to-high single-digit growth.
iRobot plummeted 17% after the maker of the Roomba robot vacuum cleaner reported mixed second-quarter earnings and its CEO Colin Angle said the U.S.-China trade war could constrain growth in the second half of the year. The company reported earnings per share of 25 cents on revenue of $260 million, versus the expected earnings per share of 3 cents on revenue of $268 million, according to Refinitiv.
Texas Instruments jumped nearly 7% following the release of the semiconductor manufacturer's second-quarter earnings. The company reported adjusted earnings per share of $1.29 on revenue of $3.67 billion, beating the expected earnings per share of $1.22 on revenue of $3.60 billion, according to Refinitiv. In a statement, Texas Instruments' CEO Rich Templeton noted the quality of the company's portfolio and efficiency of its manufacturing strategy, including the "the benefit of 300-millimeter Analog production."
Shares of Visa ticked slightly lower after the payments company reported earnings for its fiscal third quarter that beat Wall Street's expectations. The company reported adjusted earnings per share of $1.37 on revenue of $5.84 billion. Analysts polled by Refinitiv had estimated earnings per share of $1.32 on revenue of $5.70 billion.