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
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
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
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia 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
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
Here are the biggest calls on Wall Street on Thursday:
Bank of America said in its double upgrade of the home furnishing company that it sees "higher" revenue growth and "less risk" to margins.
"After better than expected preliminary 2Q results (both sales & EPS beat) and our view that RH has further upside on stronger product momentum, price hikes and less macro risk then had assumed, we upgrade RH to Buy... We believe a higher multiple is warranted on higher revenue growth and less risk to margins. While we still see several LT risks, at least through the rest of this year, we see more levers for up than downside. "
Loop Capital upgraded the stock after the company reported another "good" quarter.
"We are raising our rating on SPOT to Hold From Sell as SPOT reported another good quarter, it has reached a renewal agreement with two of the four major labels for global sound recording, and we believe the company's valuation relative to other streaming and high-growth internet companies reflects Spotify's competitive position. "
Morgan Stanley said IBM was in the "later innings of a transformation."
"Attractive risk-reward, resume at Overweight. IBM is in the later innings of a transformation meant to return the company to growth and margin expansion, both of which kicked in over the past year and should accelerate post the closing of the Red Hat acquisition. Our $170 PT is based on 13x CY20 EV/FCF, on par with growth adjusted multiples of peers, and assumes IBM grows revenue at 2% annual adjusted rate, in-line with the run-rate implied by 2Q19 results and pro-forma Red Hat contribution. "
Susquehanna downgraded the specialty glass and ceramics company and said the company had failed to "execute" its managing of different business units.
"Despite ~10% correction in the stock since the June Q report, we find it prudent to downgrade and move to the sideline until we are convinced EPS CAGR can exceed S&P 500. Until then, we simply cannot justify re-rating. We have always been a fan of GLW given the company's long standing tradition of prioritizing organic R&D and thus innovation. But, we also argue the company has recently failed to execute in managing a portfolio of diverse business units, while Optical Comm has down-ticked and disclosure weakened. "
Wedbush upgraded Western Digital and said it saw a "lower cyclical trough" for the hard disk drive manufacturer and data storage company.
"While we continue to believe end market demand remains poor, Japan's shift in its treatment of material exports to Korea has created greater uncertainty around future NAND supply, with this shift in sentiment (aided by inventory improvement tied to the Yokaichi outage) having currently halted and reversed NAND pricing trends."