After-hours buzz: WBA, SBUX & more
Check out the companies making headlines after the bell: Walgreens Boots Alliance stock increased as much as 4.5 percent in extended hours trading, before giving up some of its gains. The pharmaceutical store chain is set to join the Dow...
Goldman Sachs CEO says the US and China are not in a ‘suicide pact’ on trade
Despite escalating trade threats between the United States and China, Goldman Sachs CEO Lloyd Blankfein says the two countries won’t mutually destroy their economies. “I don’t think we’re in a suicide pact on this,” Blankfein said during a luncheon interview...
China has a limited number of weapons to use in a trade war with the US
As China and the U.S. near a trade war, both nations bring different weapons to the table. For the U.S., it’s direct tariffs on the plethora of goods it imports, while for China the calculus is a little different. ...
JP Morgan says buy small cap stocks because of their ‘lower sensitivity’ to a trade war
Despite the dominance of large technology companies in the stock market’s gains over the last year, small company stocks are forecast to do better if trade war fears come to pass. Small company stocks have already been outperforming the broad...
Here’s the fundamental error in Trump’s trade strategy
“I’m not saying there won’t be a little pain,” President Trump said in April about the tense trade negotiations and ensuing brinksmanship between the U.S. and China. That day the Dow closed down 700 points when China threatened $50 billion...
New home construction booms to a near 11-year high in May
U.S. homebuilding surged to near an 11-year high in May amid an acceleration in both single-family and multi-family home construction, but a second straight monthly drop in permits suggested housing market activity will remain moderate. Housing starts jumped 5.0 percent...
South Africa will avoid a ‘knee-jerk’ reaction to currency weakness, central bank deputy says
Emerging markets have been under pressure as a result of a strengthening dollar and trade war fears, and central banks in turn are facing tough decisions on monetary policy. South Africa’s central bank has plenty on its plate, especially within...
To boost diversity, pension funds and college endowments could insist on equitable hiring practices at big banks
Frances McDormand, the actress who won an Academy Award this year for her performance in “Three Billboards Outside Ebbing, Missouri,” introduced much of the world to a new idea when she accepted her Oscar. “I have two words to leave...
China says the US ‘has initiated a trade war,’ and Beijing isn’t afraid to fight back
China’s Commerce Ministry said on Tuesday morning that it will take counter measures if the U.S. publishes an additional tariffs list. In a statement posted on its website, the ministry said China will protect its interests, taking both quantitative and...
Trump reportedly told Apple’s Tim Cook that iPhones will be spared from China tariffs
President Donald Trump told Apple Chief Executive Tim Cook that the U.S. government would not levy tariffs on iPhones assembled in China, the New York Times reported on Monday, citing a source familiar with the negotiations. The newspaper reported that...
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