China's industrial profits drop the most in 8 months as the U.S.-China trade war takes its toll, while President Donald Trump says a phase one deal is near. Strong results from Best Buy help drive U.S. stocks to fresh records, while discount retailer Dollar Tree blames tariffs for a cut to its outlook. And in an exclusive interview with CNBC, Dallas Fed President Robert Kaplan says if the U.S. wants more than two percent growth, the economy needs more than just monetary policy.

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