Shares on Wall Street were poised for losses at Friday’s stateside open, as U.S. tariffs on Chinese goods were increased shortly after the stroke of midnight ET. Dow Jones Industrial Average futures slipped, implying an opening decline of nearly 90 points for the index at Friday’s open, as of 1:24 […]
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US tariffs on China jump as deadline passes, China immediately says it will retaliate
President Donald Trump raised the stakes in his trade conflict with China as the U.S. increased tariffs on $200 billion in Chinese goods. China’s Commerce Ministry said immediately after the midnight ET deadline for the tariff hike that it would take countermeasures against the American move. It did not announce […]
US-China trade negotiations will continue on Friday, White House official says
American and Chinese negotiators have agreed to continue their trade talks, a White House spokesman said Thursday. U.S. futures had been positive for much of Thursday evening, but turned negative following news that the trade talks would continue into Friday — implying no deal had been struck before the midnight […]
California governor unveils record $213 billion budget, says $70 billion recession could hit coffers
LOS ANGELES — California Gov. Gavin Newsom, in his revised state budget released Thursday, proposed a record-setting $213.5 billion spending plan for the upcoming fiscal year — a 2% increase over his January budget. The budget includes money to fund health care for undocumented immigrants, as well as $1.75 billion […]
Asia stocks gain as increased tariffs on China loom
Stocks in Asia rose in Friday morning trade, despite increased U.S. tariffs on Chinese goods that were due to kick in later today. Mainland Chinese shares were higher in early trade, with the Shanghai composite gaining about 1.9% and the Shenzhen component jumping 2.56%. The Shenzhen composite also rose 2.418%. […]
Asia stocks rise as increased tariffs on China loom
Stocks in Asia rose in Friday morning trade, despite increased U.S. tariffs on Chinese goods due to kick in later in the day. The Nikkei 225 in Japan gained 0.42% in early trade, with shares of index heavyweight Fast Retailing adding 0.57%. The Topix also rose 0.4%. In South Korea, […]
Boston Beer to acquire Dogfish Head Brewery in a $300 million deal
Sam Adam’s brewer Boston Beer Company has signed on to buy Dogfish Head Brewery in a merger agreement valued at approximately $300 million, the companies announced Thursday. The deal would put Sam Adams beer and Dogfish Head’s 60-, 90- and 120-Minute IPAs and sour beers all under the same company […]
Don’t play the Uber IPO — the price is too high, says tech investor Gene Munster
Noted tech investor Gene Munster isn’t buying into Uber’s initial public offering. In fact, when shares open on the public market on Friday, he expects them to trade down throughout the day. Uber priced its IPO at $45 per share Thursday, which values the company at about $75.46 billion. The […]
‘Hell week’ is almost over for the markets — Cramer reviews the winners
Wall Street has almost made it through a “hell week” of stock selling and investors can begin to pick through the rubble, CNBC’s Jim Cramer said Thursday. U.S.-China trade turmoil and Uber’s looming IPO laid out a tough week for the markets, and now the last trading day of the […]
Stock market on edge as traders wait to see if Trump hikes tariffs
U.S. equity futures were little changed Thursday as traders awaited a midnight deadline for tariffs to increase. Stock futures opened slightly lower, with S&P futures contracts down 0.1%. Dow and Nasdaq futures both fell 0.12%. China’s Vice Premier Liu He is meeting with top U.S. trade officials Thursday evening in […]