Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
Democrats want Mueller's testimony on his probe into Russian interference in the 2016 election and Trump's efforts to influence it.Politicsread more
The trade war between Beijing and Washington appears to have depressed Chinese property purchases in the United States. China's own actions may also be playing a role.Real Estateread more
More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
Powell stresses the central bank's independence in a speech that comes amid continuous pressure from the White House to cut interest rates.The Fedread more
The Senate is expected to pass its own version of the border aid legislation, while the Trump administration has threatened to veto both bills.Politicsread more
Markets in Asia fell on Wednesday morning after U.S. Federal Reserve Chairman Jerome Powell tempered expectations for a potential interest rate cut.Asia Marketsread more
In a text message, Grisham confirmed to CNBC that she will still be working for the first lady even as she takes on her new roles.Politicsread more
Acting Customs and Border Protection Commissioner John Sanders is resigning amid the furor over the Trump administration's treatment of migrant children.Politicsread more
NBC is taking the office back from Netflix as it seeks to bolster its own streaming service launching in 2020.Technologyread more
Wayfair employees plan to walk out tomorrow, after no action was taken in response to their opposition to the company supplying border detention camps with beds for children.Retailread more
Microsoft delivered quarterly earnings and revenue that topped analysts' expectations on Thursday.
The technology giant posted earnings of 67 cents per share for the first quarter of its 2016 fiscal year, on revenue of $21.66 billion. Analysts had expected Microsoft to deliver quarterly earnings of 59 cents per share on $21.03 billion in revenue, according to consensus estimates by Thomson Reuters.
Microsoft separately cut 1,000 jobs, or less than 1 percent of its workforce, CNBC confirmed Thursday. It was a new round of cuts and unrelated to the reported quarter.
Shares were up more than 7 percent in extended-hours trade. See how Microsoft's stock is trading.
"We are making strong progress across each of our three ambitions by delivering innovation people love," said CEO Satya Nadella in a statement. "Customer excitement for new devices Windows 10, Office 365 and Azure is increasing as we bring together the best Microsoft experiences to empower people to achieve more."
Revenue in the company's "More Personal Computing" segment, which includes sales of the Windows operating system, fell 17 percent to $9.4 billion.
Revenue from Microsoft's Intelligent Cloud segment, which includes server products and services such as Windows Server and Azure, rose 8 percent to $5.9 billion.
Phone revenue declined 54 percent in the quarter, which the company said is a reflection of its "updated strategy."
The results were the first under a new financial reporting structure announced last month that reduced reporting segments to three from six.
Under Nadella, Microsoft has been shifting its focus to software and cloud services as demand for the Windows operating system slows.
The earnings report comes on the heels of Microsoft's latest Windows 10 operating system and a series of accompanying devices such as phones, tablets and laptops, as Nadella leads the company toward a model of mobile productivity. The system, seen as critical for the company, won positive reviews for its user-friendly and feature-packed interface.
In particular, Microsoft has made a play at the cloud business as it branches out from a PC-based business focus, incorporating products like Azure and Office 365 into its commercial and enterprise business.
Last quarter, the company beat on both earnings and revenue as its cloud business surged 106 percent year over year.
— CNBC's Fred Imbert, Jon Fortt and Reuters contributed to this report.