The Philadelphia Fed saw its primary gauge measuring the sector jump from 0.3 in June to 21.8, far better than Wall Street estimates of 5 and the highest in a year.Economyread more
Stocks fell for a third straight day on Thursday as Wall Street digested a mixed batch of corporate earnings results.US Marketsread more
It's tempting to view Netflix as a possible replacement for the entire media ecosystem. But execs on its Q2 earnings call showed lower ambitions: It just wants to create the...Technologyread more
Hacker Square at Facebook's headquarters features large gray stripes that are an homage to an early event in the company's history that epitomized the company's spirit of move...Technologyread more
These are the stocks posting the largest moves midday.Market Insiderread more
Jeffrey Epstein, a former friend of Presidents Donald Trump and Bill Clinton, had asked a judge to release him on a bond of as high as $100 million or more.Politicsread more
Netflix blames its content slate, regional price increases and a "pull-forward effect" of its strong Q1 growth for the miss.Technologyread more
Nancy Pelosi and House Democrats contend the $15 per hour minimum wage bill will lift workers who have not seen the benefits of a strong economy.Politicsread more
The strengthening of the president's formidable campaign war chest has led his organization, along with the Republican National Committee, to raise over $100 million in the...2020 Electionsread more
Treasury Secretary Steven Mnuchin says if the call goes well, he would expect in-person meetings to take place.Marketsread more
The filing came a day after the judge in Michael Cohen's criminal case ordered their release, saying that the end of a probe into those payments to alleged sexual partners of...Politicsread more
With the federal government opening a formal investigation into the safety of Tesla Model S battery systems, CEO Elon Musk is questioning why the electric car is being scrutinized.
Musk took to Twitter on Tuesday:
: "Why does a Tesla fire w/ no injury get more media headlines than 100,000 gas car fires that kill 100s of people per year?"
@elonmusk: What makes this incredibly unjust is that the Model S to date has the best safety record of any car on the road (no injuries or deaths ever)
The tweets are the latest public comment from Musk defending the safety of the Model S.
At The New York Times Dealbook Conference last week, he was asked about the Model S inquiry and didn't hesitate to proclaim that the popular electric car would not be recalled.
"There is definitely not going to be a recall," Musk said last Tuesday. "There is no reason for a recall. ... The perception is, if you read the headlines, that Teslas have a greater propensity to catch fire than other cars, and actually nothing can be further from the truth."
To recall or not
Despite Musk's declarations, the National Highway Traffic Safety Administration will make the recall determination.
The NHTSA, along with engineers and executives from Tesla and perhaps outside experts, will study the two Model S battery fires. Based on that information, NHTSA will decide if grounds exist for a recall and and on a specific process to address the problem.
If the agency goes for a recall, it tells the automaker, which 99 percent of the time agrees to issue one.
If the automaker disagrees, NHTSA could sue to force the issue, but that rarely happens.
Karl Brauer, senior analyst at Kelley Blue Book said whether Tesla Model S sales will suffer because of these incidents comes down to what the investigation finds.
(Read more: Yet another Model S fire puts heat on Tesla)
"Is there an inherent design flaw in the Tesla's battery pack that makes it more prone to fires compared to other electric cars? That's what NHTSA will be determining," he said.
—By CNBC's Phil LeBeau. Follow him on Twitter .
Questions? Comments? BehindTheWheel@cnbc.com.