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Weaker second-quarter refining and chemicals profits offset surging U.S. shale production at U.S. oil majors Exxon Mobil Corp and Chevron Corp , the two reported on Friday.

As a tense meeting with top advisers on China trade talks ended, President Donald Trump turned to trade adviser Robert Lighthizer and told him to call China to warn that new tariffs were coming, two people familiar with the matter said on Friday.

Wall Street extended its sell-off on Friday on renewed trade fears as the benchmark S&P 500 index and Nasdaq saw their worst weekly percentage plunges since December, when investors were spooked by the prospect of a looming recession.

Exxon Mobil Corp 's U.S. second-quarter refining profits bounced back from a loss earlier this year but remain below past levels in part because of a wave of production outages, according to an examination of data from Reuters and energy industry intelligence service Genscape.

A measure of stocks across the globe posted on Friday its largest weekly loss of the year while yields in U.S. and German debt were near or at multi-year lows, after China vowed to retaliate against a possible new round of U.S. tariffs.

The U.S. Federal Aviation Administration said on Friday it had approved the first drone flight beyond the operator's sight line, a major advance for retailers like Amazon.com Inc seeking to speed up deliveries by drone.

Quarterly reports next week from Walt Disney Co , CBS and Viacom will likely highlight increasing competition in video streaming and could spark volatility in the so-called communication services sector, which has outperformed since it was overhauled last year.

U.S. Senator Mark Warner on Friday raised concerns over the Pentagon's decision to put on hold a $10 billion cloud computing contract after President Donald Trump said his administration was examining Amazon.com Inc's bid following complaints from other tech companies.

Top executives at Nissan Motor Co and Renault SA are trying to reach a deal to reshape their global alliance, in hopes to revive Renault's merger talks with Fiat Chrysler Automobiles NV , the Wall Street Journal reported on Friday, citing emails and people briefed on the discussions.

Carmakers Nissan Motor Co and Renault SA are trying to reach a deal to reshape their global alliance, in hopes of reviving Renault's merger talks with Italy's Fiat Chrysler Automobiles NV , the Wall Street Journal reported on Friday, citing emails and people briefed on the talks.

WeWork owner The We Company has tapped JPMorgan Chase & Co to head an upcoming debt offering, putting the bank in pole position to lead a planned initial public offering (IPO) later this year, people familiar with the matter said.

Oil dropped more than 2% on Thursday, declining for the first time in six days, after the U.S. Federal Reserve dampened hopes that a string of interest rate cuts would be in the offing and as record U.S. output helped keep the market well supplied.

Yum Brands Inc beat expectations for quarterly profit on Thursday, as menu refreshes and a delivery push drove better-than-expected growth at all of the restaurant operator's chains, including Pizza Hut, sending its shares to a record high.

General Motors Co is open to working with other automakers on the development of electric vehicles, Chief Executive Mary Barra said on Thursday.

Financial data firm Refinitiv's $13.5 billion debt, once described as having some of the weakest-ever investor protections typical of the frothy peak of the credit cycle, is being rehabilitated by its $27 billion merger with the London Stock Exchange.