U.S. retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, pointing to a slowdown in economic growth after a temporary boost from exports and inventories in the first quarter.
Declining output of cars and machinery led U.S. factory production to fall unexpectedly in April, a sign the economy is losing a step as a trade war with China intensifies.
Wall Street was set to open lower on Wednesday, as a surprise fall in domestic retail sales and underwhelming data from China raised growth concerns, while investors waited for more developments on the U.S.-China trade dispute.
Ford Motor Co said Wednesday it is recalling 270,000 Ford Fusion cars in North America that could roll away.
Nissan Motor Co forecast a 28% plunge in its annual operating profit, putting it on course for the weakest earnings in 11 years and underscoring its struggle to turn the page after former Chairman Carlos Ghosn was ousted.
U.S. retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, which could temper expectations for a sharp rebound in consumer spending after it slowed in the first quarter.
Chinese e-commerce giant Alibaba Group Holding Ltd beat fourth-quarter revenue forecasts on Wednesday, thanks to growth in its core business and its diversification into cloud computing and other services.
Macy’s Inc topped Wall Street estimates for quarterly same-store sales and profit on Wednesday, benefiting from increased digital sales and higher demand for items sold at its off-price stores.
The “great majority” of solar cells being produced at Tesla’s factory in upstate New York are being sold overseas instead of being used in the company’s trademark “Solar Roof” as originally intended, according to documents reviewed by Reuters.
A global equity recovery set off by softer rhetoric from U.S. President Donald Trump on the trade dispute with Beijing waned on Wednesday as grim Chinese data and fresh Italian debt woes cast a shadow over global markets.
China reported surprisingly weaker growth in retail sales and industrial output for April on Wednesday, adding pressure on Beijing to roll out more stimulus as the trade war with the United States escalates.
China will support firms in boosting their spending on research and development, state television cited the cabinet as saying on Wednesday.
Tencent Holdings Ltd posted record quarterly profit on Wednesday, smashing market expectations, as the social media and gaming giant booked a rise in the value of its investments while fintech and cloud computing make up for declines in games.
U.S. stock index futures slipped on Wednesday, as grim data out of China cast a shadow over market sentiment, while investors awaited more developments related to the U.S.-China trade dispute.
China’s Alibaba Group Holding Ltd beat analysts’ estimates for fourth-quarter revenue on Wednesday, boosted by growth in its core e-commerce and cloud computing businesses.
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