The rumblings of a global trade war shook stock and currency markets on Friday after President Donald Trump announced long-promised tariffs on Chinese goods.Read More »
Billionaire markets guru Ken Fisher, Chairman of Fisher Investments, reacts to Thursday's 724 point plunge in the Dow Jones Industrial average The stock selloff was sparked by worried over a trade war with China. President Trump announced some $60 billion worth of fresh tariffs on China Thursday. This comes on top of the steel and aluminum tariffs announced earlier this month. "The day was like a perfect storm, sometimes you get a tornado, sometimes you get a snow storm, sometimes you get both. Sometimes, you get both and an earthquake all at the same time" said Ken Fischer. "And today, you got that, where the magnitude of the damage was confused with the size of what would have tariff's imposed
The House just passed a $1.3 trillion spending bill that protects employee tips. The U.S. House of Representatives and Senate passed a $1.3 trillion spending bill on Thursday, which includes a provision that prevents employers from taking any of their workers’ tips. It all began in December, when the U.S. Department of Labor submitted a rule that would rescind a regulation enacted during the Obama administration that required employers to distribute tips to their tipped employees.
Micron Technology, Inc. (MU) just released its latest quarterly financial results, posting non-GAAP earnings of $2.82 per share and revenues of $7.35 billion. The stock is currently down 2.0% to $57.72 per share in after-hours trading shortly after its earnings report was released. The company posted adjusted earnings of $2.82 per share, beating the Zacks Consensus Estimate of $2.76.