Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
The consumer and industrial economies are telling conflicting tales this earnings season, and it could be enough to trigger a change in Federal Reserve policy, CNBC's Jim Cramer said Thursday.
"The industrial economy is so weak that [Fed Chair] Jay Powell now has plenty of ammo to justify cutting interest rates," he said. "And if the president rolls out new tariffs on Chinese imports — that $300 billion — if oil goes down, then one rate cut will not be enough."
After a string of earnings reports last week that revealed the strength of the consumer, the "Mad Money" host thinks the earnings cycle has "suddenly gone completely schizophrenic" and sent the major averages down on Thursday.The Dow Jones Industrial Average shed nearly 129 points during the session. The S&P 500 dropped 0.53%, and the Nasdaq Composite plunged 1%, a day after setting record closes.
Much of the industrial slowdown can be attributed to China, which has impacted companies like Ford and 3M, among others. In terms of the trade dispute, it appears that China is taking a bigger hit than the U.S., Cramer said, basing his conclusion on earnings conference calls.
CEO Nick Akins of American Electric Power, one of the biggest utilities in the U.S., told shareholders the "biggest economic headwind we have at this point" is the trade war impact.
Align Technology, which makes Invisalign braces, similarly has a "cautious view for growth in the Asia Pacific region" in the third quarter due to the Chinese consumer, CEO Joe Hogan said. The company's shares plummeted 27% off its second quarter report.
Electronics and autos companies are performing better in Brazil, Canada and Mexico than in China, which Cramer called "bizarre."
"Here's the thing about this slowdown: If it pressures the Chinese government to make a deal, that's great for our companies," the host said. "But if China just digs in and takes the pain, it's a real problem for the rest of the world. Their pain is not our gain."
The U.S. and China are expected to hold face-to-face trade talks in China next week. Negotiators struck a truce in June and agreed to hold off on further tariff hikes, but it remains to be seen if a more permanent deal will be made in the near future to stave off additional levies.
"This industrial weakness is a serious problem. It will not go away unless the Fed steps on the accelerator and does so soon, if only to offset the weakness being exported here ... from China," he said.