Economics textbooks insist that stock prices reflect the future stream of a company’s profits on any given day. For all the brainpower devoted to these forecasts, however, they are essentially rough estimates of what may happen over the next twelve months and wild guesses about anything after that.

Stocks are rising on Wall Street, even as President Donald Trump's latest tariffs take effect on dozens of countries.

The world’s most valuable company is now at the center of President Donald Trump’s trade war with China. Trump said Monday that he has cut a deal with chipmaker Nvidia, allowing it to sell certain artificial intelligence chips to China in exchange for a cut of the revenue,

President Trump again delayed higher tariffs on Chinese goods. But his recent moves on computer chips have stoked fears he’s willing to give too much to reach an accord.

Good morning. Donald Trump allows more time for trade talks with China. Beijing urges local firms to avoid Nvidia’s chips. And why the number 12 is causing a stir among Swifties. Listen to the day’s top stories.