American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead 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 European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
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
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...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
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Check out the companies making headlines before the bell:
Walmart – The retail giant reported adjusted quarterly profit of $1.27 per share, 5 cents a share above estimates. Revenue also beat forecasts. U.S. comparable-store sales rose 2.8%, better than the 2.4% consensus estimate of analysts surveyed by Refinitiv. Walmart also raised its full-year sales and earnings forecast.
General Electric — Bernie Madoff whistleblower Harry Markopolos targeted the conglomerate in a new report, saying it was hiding the depths of its financial problems. GE confirmed the existence of the report in a statement to CNBC.
Tapestry – Tapestry matched forecasts with adjusted quarterly earnings of 61 cent per share, matching estimates. Revenue, however, fell below forecasts, with the company saying results were strong at its Coach unit but that Kate Spade sales did not meet its expectations.
Alibaba – The China-based e-commerce giant beat estimates on both the top and bottom lines for its latest quarter. Results were helped by growth in both its core e-commerce business and its cloud computing unit.
J.C. Penney – The retailer lost 18 cents per share for the second quarter, smaller than the 31 cents a share loss expected by Wall Street. Comparable-store sales were down 9%, compared to a consensus estimate of a 5.2% decline.
Cisco Systems – Cisco reported adjusted quarterly profit of 83 cents per share, a penny a share above estimates. The networking equipment maker's revenue came in above forecasts, as well, however its current-quarter earnings and revenue guidance is below estimates. Cisco pointed to impending U.S. tariffs and Chinese customers no longer buying from Cisco.
Boeing –Boeing denied a report that said it is delaying delivery of an ultra-long-range version of its 777X aircraft. The planemaker told CNBC it is adjusting the schedule for the 777-8, a 777X derivative that is coming after initial deliveries of the 777X series.
Berkshire Hathaway — William Ackman's Pershing Square Capital took a new stake in Berkshire Hathaway during the second quarter, according to a Securities and Exchange Commission filing. Pershing bought 3.5 million "B" shares, currently worth about $686 million.
Amazon.com — Berkshire's quarterly 13F filing showed that Warren Buffett's company boosted its stake in Amazon. Berkshire had 537,300 Amazon shares at the end of the second quarter, compared with 483,300 at the end of the first quarter.
Pivotal Software – The maker of software development tools is set to jump after VMWare said it would proceed with an agreement to acquire Pivotal's class A shares for $15 per share, nearly 81% above yesterday's closing price.
NetApp – NetApp reported adjusted quarterly profit of 65 cents per share, 7 cents a share above estimates. The cloud data services company is also forecasting profit above Wall Street estimates for the current quarter.
Liberty Formula One – The stock was upgraded to "overweight" from "neutral" at J.P. Morgan Chase, which said the race track operator is now in a position to reap the benefits of past investments.
—CNBC's John Melloy contributed to this report.