Business News

Matteo Colombo/Getty Images (NEW YORK) -- Stocks were mixed on Thursday after a panel of federal judges blocked President Donald Trump from slapping some of his far-reaching tariffs on China and other major U.S. trading partners.The Dow Jones Industrial Average fell 25 points, or 0.06%, while the S&P 500 increased 0.3%. The tech-heavy Nasdaq climbed 0.6%The ruling from the U.S. Court of International Trade late Wednesday marked a major blow for Trump's […]

Matteo Colombo/Getty Images (NEW YORK) -- Stocks surged at the open of trading on Thursday after a panel of federal judges blocked President Donald Trump from slapping some of his far-reaching tariffs on China and other major U.S. trading partners.The Dow Jones Industrial Average jumped 55 points, or 0.1%, while the S&P 500 increased 0.8%. The tech-heavy Nasdaq climbed 1.4%The ruling from the U.S. Court of International Trade late Wednesday […]

Craig T Fruchtman/Getty Images (NEW YORK) -- Macy's slashed its full-year profit forecast on Wednesday, attributing the downbeat expectations in part to tariffs imposed by President Donald Trump.The New York-based retail chain is the latest major company to warn of ill effects from the levies, including Target, Walmart and Nike.Macy's downgraded its expectations for adjusted earnings per share from a range of $2.05 to $2.25, instead saying the metric is […]

(NEW YORK) -- The GENIUS Act, a cryptocurrency regulation bill making its way through the Senate, has thrust a little-known type of digital asset into the spotlight.The industry-backed measure establishes rules targeting stablecoins, a form of cryptocurrency pegged to the value of another asset, often the U.S. dollar.If enacted, the bill could allow such crypto coins to become a mainstream tool for digital payments and investments, proponents say. Critics warn […]

(NEW YORK) -- Consumer confidence improved more than expected in May, ending a monthslong stretch of worsening consumer attitudes as President Donald Trump’s tariffs set off company warnings about price increases even after the president eased his policy.The reading of brightened consumer sentiment snapped five consecutive months of decline, which had brought the Conference Board gauge to its lowest level since the COVID-19 pandemic.The rebound in consumer confidence took hold […]

Buying a Tesla has become a bit more complicated in the past year.The company's Model Y and Model 3 continue to be the best-selling electric vehicles in the U.S., accounting for more than 40% of all EVs sold last year, according to Cox Automotive data. But Tesla's stronghold on the EV market is slipping.The U.S. electric automaker has seen its popularity dip in recent months, with insiders attributing the decline […]

(WASHINGTON) -- President Donald Trump has disrupted global trade and roiled markets in an effort to bring manufacturing jobs back to the U.S. Some of his top tech allies, however, have backed ventures that replace human workers with robots.Elon Musk, a top donor and adviser to Trump, has touted humanoid robots as a future growth area for electric-carmaker Tesla. "You can produce any product,” Musk said of the robots’ potential […]

(WASHINGTON) -- Despite repeated claims from the White House that President Donald Trump's Thursday night gala for the top holders of his cryptocurrency meme coin had nothing to do with his official duties, several of those investors visited the White House Friday afternoon for what they described as a special VIP event, the attendees told ABC News.Sangrok Oh, a Korean crypto investor and entrepreneur, told ABC News on Friday that […]

(NEW YORK) -- Stocks tumbled in early trading on Friday after President Donald Trump threatened new tariffs targeting tech giant Apple and the European Union.The Dow Jones Industrial Average dropped 458 points, or 1.1%, while the S&P 500 declined 1.2%. The tech-heavy Nasdaq dropped 1.6%.Shares of Apple fell nearly 3% at the open of trading. European stocks also declined on Friday, as the STOXX Europe 600 index fell nearly 2%.In […]