The latest escalation in the trade war between the U.S. and China increases odds the U.S. economy will fall into recession— and that the Federal Reserve will try to stop it with more aggressive interest rate cuts. President Donald Trump called on U.S. companies Friday to find alternatives to China, following a new round of

Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month. “Obviously, the global economy has worsened since our July meeting,” Clarida told CNBC’s Steve Liesman on Friday from the Fed’s economic policy symposium in Jackson Hole, Wyoming. “The global economy is slowing and there’s powerful disinflationary pressures.”

The final week of August — the bittersweet end of summer for many— could be highly volatile, as markets fret over the economy and the latest developments in trade wars. President Donald Trump joins the G-7 leaders in France over the weekend, and markets will be watching to see if the meeting exposes new fault

Loretta Mester at Jackson Hole, August 25, 2017. Jodi Gralnick | CNBC Cleveland Federal Reserve President Loretta Mester believes that if the U.S. economy continues to grow at its current pace, she’s unlikely to support further reductions to interest rates. “At this point, if the economy continues where it is, I would probably say we should

Kuni Takahashi | Bloomberg | Getty Images Check out the companies making headlines after the bell: Shares of Gap slid as much as 7% before settling around 1% lower in extended trading after the retailer posted second-quarter sales that missed estimates. The company reported adjusted earnings per share of 63 cents on revenue of $4.01

Robert Kaplan at Jackson Hole, Wyoming David A. Grogan | CNBC Dallas Fed President Robert Kaplan would like to avoid additional stimulus but is keeping an “open mind.”  “I’d like to avoid having to take further action but I think I’m going to have an open mind about taking action over the next number of

Check out the companies making headlines before the bell: Dick’s Sporting Goods – The sporting goods retailer earned $1.26 per share for the second quarter, 5 cents a share above estimates. Revenue also beat forecasts. Comparable-store sales rose 3.2%, compared to a consensus forecast of 1% from analysts surveyed by Refinitiv. Dick’s also raised its

A Nordstrom store in Irvine, California Scott Mlyn | CNBC Check out the companies making headlines after the bell: Shares of Nordstrom surged 11% in extended trading after the retailer posted a strong profit despite weakening second-quarter sales. The company reported adjusted earnings per share of 90 cents on revenue of $3.87 billion. Analysts had expected

Federal Reserve Chairman Jerome Powell reacts during a press conference in Washington D.C., the United States, on July 31, 2019. Liu Jie | Xinhua | Getty Images Market moves were modest after the Fed released minutes of its last meeting, but the message was clear — the market still fears the Fed will not be

Adam Jeffery | CNBC Adam Jeffery | CNBC Competition is weighing on Tesla’s sales, according to A.B. Bernstein. The firm said increased competition abroad is responsible for the recent weakness in Tesla’s sales volume. “Our analysis suggests that the deteriorating sales trajectory of the Model S and X may be primarily due to competition, particularly

London’s Old Street roundabout, often dubbed “Silicon Roundabout.” Chris Ratcliffe | Bloomberg | Getty Images British technology start-ups have attracted more foreign investment since the start of the year than they did throughout all of 2018, according to fresh figures published Wednesday. U.S. and Asian venture capital investors poured $3.7 billion into U.K. tech companies

Timothy A. Clary | Getty Images Another former J.P. Morgan precious metals trader pleaded guilty Tuesday to criminal charges of manipulating the precious metals markets for nine years marking the latest in the Justice Department’s crackdown in the commodities markets. Christian Trunz, 34 of London is cooperating with an ongoing federal criminal investigation, the Justice

The U.S. Federal Reserve will cut interest rates five more times by April 2020, according to analysts at Danske Bank. The Fed cut rates by 25 basis points in July, but comments from Chairman Jerome Powell suggesting the cut was merely a “midcycle adjustment” sent stocks plummeting, with investors having hoped for further easing in

Mohammed bin Rashid Al Maktoum, vice president and prime minister of the United Arab Emirates, ruler of the Emirate of Dubai, China’s President Xi Jinping and his wife Peng Liyuan (L-R) ahead of a reception marking the Belt and Road Forum at the National Museum of China on April 26, 2019 in Beijing. Valery Sharifulin

Michael Moritz Scott Mlyn | CNBC Michael Moritz, the Sequoia Capital venture capitalist who made fortunes from early bets on Google and Yahoo, says investment bankers in tech IPOs are like ticket scalpers, and more companies are realizing that they no longer need them. The direct listings pulled off by Spotify last year and Slack

White House National Trade Council Director Peter Navarro Getty Images White House trade advisor Peter Navarro disputed that the bond market flashed a recession signal last week, which spooked investors and sent the stock market tumbling. The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in

New charts from Bank of America-Merrill Lynch’s Stephen Suttmeier suggest two things must happen before the stock market bottoms: The S&P 500 needs to fall another 5% and panic needs to get more extreme. His first chart shows the S&P 500‘s decline, and the key levels to watch. “The correction is going to continue,” the

Larry Kudlow, director of the U.S. National Economic Council, speaks during a Bloomberg Television interview outside the White House in Washington, D.C., U.S., on Friday, Aug. 2, 2019. Andrew Harrer | Bloomberg | Getty Images White House economic advisor Larry Kudlow pushed back Sunday against concerns that the economy was weakening, after the bond market

Check out the companies making headlines before the bell: Deere – The heavy equipment maker reported adjusted quarterly profit of $2.71 per share, missing the consensus estimate of $2.85 a share. Revenue also missed forecasts, with the company saying some farmers are postponing purchases because of uncertainties regarding the export market. Applied Materials – Applied

The “Fast Money ” traders shared their first moves for the market open. Pete Najarian was a buyer of Industrials ETF puts. Karen Finerman was a buyer of Target. Dan Nathan was a seller of the Financials ETF. Guy Adami was a buyer of Eastman Chemical.  Disclosure Trader disclosure: Pete is long calls ALLY, AMD, DISCA, DOCU,