What to watch today: Jobs Friday, Trump's new China tariff threat, and oil earnings

U.S. stock futures were pointing to further losses on Wall Street. The Dow on Thursday had been up more than 300 points before President Donald Trump said the U.S. next month would impose a 10% tariff on the remaining $300 billion of Chinese imports. The Dow closed down 280 points. China said this morning it would retaliate if those levies were to go into effect. (CNBC)

* Treasury yields tick lower after hitting November 2016 lows (CNBC)
* Oil prices regain ground after plunging nearly 8% on Trump tariff threat (CNBC)
* Trump's broadside raises fear that trade war is 'new status quo' (CNBC)
* Trump tariff threat pushes up chance for Fed rate cuts as recession risks rise (CNBC)

The Dow, on a three-session losing streak, and the S&P 500, on a four-session losing streak, were on track for their worst weeks since the end of May. Where stocks end up today could be determined by what the the government's July employment report shows when it comes out at 8:30 a.m. ET. (CNBC)

Meanwhile, Dow components Exxon Mobil (XOM) and Chevron (CVX) issue quarterly earnings this morning. There are no major companies reporting results after the bell this afternoon. Warren Buffett's Berkshire Hathaway (BRK.B) issues quarterly numbers Saturday morning. (CNBC)

* Exxon Mobil earnings: 73 cents a share, vs 66 cents EPS expected (CNBC)

The Senate passed a bill to increase the U.S. budget and lift the debt ceiling for the next two years. The spending deal now heads to the Oval Office to be signed by Trump. Conservative lawmakers and advocates have griped that the deal, which was hashed out between the White House and bipartisan leaders, doesn't take steps to curb spending. (CNBC)

New York City prosecutors subpoenaed the Trump Organization for documents related to a hush payment to adult film star Stormy Daniels during the 2016 election, the Wall Street Journal reported. The subpoena sought documents from the company regarding the $130,000 payment.

Trump used a revved-up rally in Cincinnati last night to tear into the Democrats he has been elevating as his new political foils, attacking four liberal congresswomen of color and their party's urban leaders, while also training fire on those he could be facing in 2020. (AP)

* Trump also claims at rally that he'll 'end the AIDS epidemic' and 'cure childhood cancer' (USA Today)

Texas Rep. Will Hurd, the only black Republican in the House, is not seeking reelection in 2020. The move shows increasing difficulty for the GOP's path to reclaiming the majority in the House. (New York Times)

Saoirse Kennedy Hill, the granddaughter of the late Robert F. Kennedy, died at the Kennedy compound in Hyannis Port, Massachusetts Thursday. She was 22. The New York Times and The Hyannis News report that Hill died of an apparent overdose.

The U.S. has formally withdrawn from a decades-old Intermediate-Range Nuclear Forces treaty, which banned ground-launched medium-range missiles with a range of 310-3,400 miles. Secretary of State Mike Pompeo said today Russia was "solely responsible for the treaty's demise." (CNBC)

North Korea fired two short-range ballistic missiles into the sea, multiple intelligence sources told NBC News.The missiles did not appear to pose any immediate threat to the U.S. or its allies in the region. Since 2011, North Korean leader Kim Jong Un has fired more than 90 missiles and had four nuclear weapons tests. (CNBC)

* Trump played down North Korea's string of missile tests (CNBC)

The White House is planning to withdraw thousands of troops from Afghanistan in an initial deal with the Taliban. The agreement would require the Taliban to start negotiating a peace deal with the Afghan government, including a cease-fire and renunciation of al-Qaeda. (Washington Post)

Newly appointed Secretary of Defense Mark Esper is reviewing a controversial multi-year cloud-computing contract. The deal, which could be worth up to $10 billion for services rendered over as many as 10 years, could go to either Amazon (AMZN) or Microsoft (MSFT). (CNBC)

Goldman Sachs (GS) is taking aim at the world's biggest so-called quant hedge funds.The investment bank recently approved a three-year plan to spend more than $100 million to overhaul its stock trading platform. The project is meant to accelerate the shift Goldman has been making since realizing in 2014. (CNBC)

Home improvement retailer Lowe's (LOW) has told thousands of workers that their jobs are being eliminated. The company plans to outsource jobs of maintenance and assembly workers to third-party companies. (CNBC)

Soccer's world governing body, FIFA, has unanimously agreed to a proposal to expand the number of teams taking part in the Women's World Cup from 24 to 32 for the next tournament in 2023. Prospective host countries will now be revising their bids. (CNBC)

Cloudera (CLDR) shares were soaring in the premarket after investor Carl Icahn disclosed a 12.6% stake in the cloud software company. Icahn plans to push for changes and possibly seek board representation.

Aphria (APHA) reported a surprise fiscal fourth quarter profit, and the Canada-based cannabis producer also reported revenue that surpassed analyst estimates. Shares were soaring 30% in the premarket.

Square (SQ) beat estimates with earnings and revenue. However, current quarter guidance was shy of Wall Street forecasts. Separately, Square announced the sale of its food ordering platform Caviar to DoorDash in a $410 million cash and stock deal.

Pinterest (PINS) reported smaller-than-expected losses yesterday, along with strong revenue. Pinterest reported an increase in monthly active users as well.

GoPro (GPRO) fell a penny short of estimates with adjusted quarterly profit of 3 cents per share. Revenue also missed. However, GoPro reported a 15% jump in subscription services revenue and it raised its outlook for the second half.

Etsy (ETSY) beat forecasts by 1 cent with quarterly profit of 14 cents per share. But the online crafts marketplace operator saw revenue miss. Etsy increased revenue guidance for the year.

NetApp (NTAP) shares are under pressure after the data storage firm warned that current quarter sales and profit will come in below forecasts. NetApp said it remained confident in its long term strategy and its business model.

Toyota (TM) cut its full year profit forecast by about 6%. The automaker posted an 8.7% increase in operating profit for the April through June quarter to the highest level in nearly 4 years.

Campbell Soup (CPB) sold its Arnott's biscuit business and other international assets to private equity firm KKR (KKR) for $2.2 billion.

Universal Studios Resort is adding another theme park in Florida. NBCUniversal-parent company Comcast (CMCSA) revealed it will be building Epic Universe, a major expansion in Orlando, that includes hotels, restaurants and shops. The new park will be located on a 750-acre plot of land just a few miles from the existing resort. (CNBC)