U.S. trade deficit hits widest point in five months

A tugboat guides a cargo ship into the Port of Long Beach The numbers: An early look at trade patterns in July showed a widening in the nation’s trade deficit to the highest level in five months, perhaps a sign that growth will slow down a little in the third quarter from the torrid pace in the April-June period. The […]

White House ‘taking a look‘ at regulating Google search results: Kudlow

Larry Kudlow told reporters the Trump administration is ‘taking a look’ at regulating Google search results. Larry Kudlow, President Donald Trump’s top economic adviser, said Tuesday the administration is “taking a look” at whether Google searches should be regulated, hours after Trump complained on Twitter about search results. In a pair of morning tweets, the president said Alphabet Inc.’s Google […]

Nasdaq closes at third-straight record high

Stocks booked modest gains Tuesday, but the advance was sufficient for the S&P 500 and the Nasdaq to record their third straight all-time closing high, amid lingering enthusiasm about the U.S.‘s progress toward forging a bilateral trade pact with Mexico. However, investors found few reasons to push stocks substantially higher in late-August trade–a seasonal subdued period of activity on Wall […]

Dick‘s Sporting Goods stock skids 9.5% as sales fall short of estimates

Dick‘s Sporting Goods Inc. shares slid 9.5% in premarket trade Wednesday, after the retailer posted weaker-than-expected sales for the second quarter and offered below consensus same-store sales guidance for the full year. The company said it had net income of $119.4 million, or $1.20 a share, in the quarter, up from $112.4 million, or $1.03 a share, in the year-earlier […]

Amazon‘s stock gets $2,500 target from Morgan Stanley

Shares of Amazon Inc. are up 1.2% in premarket trading Wednesday after Morgan Stanley boosted its price target to $2,500 from $1,800. The new $2,500 target is higher than all targets listed on FactSet. "We have increasing confidence that Amazon‘s rapidly growing, increasingly large, high margin revenue streams (advertising, AWS, subscriptions) will drive higher profitability and continued upward estimate revisions," […]

Top GOP lawmakers urge Sessions to resist Trump pressure to quit

WASHINGTON — Some top Republican lawmakers are urging Attorney General Jeff Sessions to resist any pressure to quit following criticism from President Donald Trump, and to stay in the job at least through the midterm elections. The same morning as Trump was venting his frustration at the Justice Department, five Republican senators met Sessions last Thursday for breakfast in his […]

GDP revision shows U.S. economy expanding 4.2% in second quarter

It’s party time for the U.S. economy. It’s growing in 2018 at the fastest pace in years. The numbers: The bustling U.S. economy was even stronger in the spring than initially reported thanks to higher government spending and business investment. And companies cashed in big time. Gross domestic product expanded at a 4.2% annual pace in the second quarter, up […]