It is a rare scenario where long-term interest rates suddenly fall below short-term interest rates.Real Estateread more
It was the third trigger of the recession indicator in less than two weeks.Bondsread more
Overstock CEO Partick Byrne has resigned from the e-commerce company after making comments about his role in the "deep state."Technologyread more
Automakers are trying to deal with President Trump's efforts to roll back Obama-era fuel efficiency rules.Autosread more
Mark Zuckerberg has been on a selling spree in August and has unloaded $526 million worth of stock this year.Technologyread more
Palantir CEO Alex Karp said billionaire investor Peter Thiel is right to question Google's decision to work in China, while abandoning military contracts in the US.Technologyread more
These are the stocks posting the largest moves midday.Market Insiderread more
U.S. manufacturer growth slowed to the lowest level in almost 10 years in August, the latest sign that the trade war may be exacerbating the economic slowdown.Marketsread more
L Brands shares fell by as much as 12% at one point, touching $17.61 — a price not seen since December 2009.Retailread more
"The president is not backing down," says CNBC's Jim Cramer, referring to Trump's repeated calls for the Fed to cut rates while talking tough on China.Economyread more
The market rebound this week hasn't convinced the strategist predicting a "Lehman-like" sell-off that the risk is completely off the table.Marketsread more
Take a look at some of Wednesday's early movers:
Cisco Systems — Goldman Sachs removed the network equipment maker from its "buy" list with a downgrade to "neutral" based on slowing earnings growth and limited upside for previous growth drivers such as operating margin expansion.
Twitter — The social media company has invested around $70 million in SoundCloud as part of a round that is expected to value the music service at about $700 million, Recode reported late Tuesday, citing sources familiar with the deal. Twitter CEO Jack Dorsey confirmed in the report his firm now owns a stake in SoundCloud.
Celgene — The biopharmaceutical company announced a $3 billion share buyback program, effective immediately.
Procter & Gamble — Jefferies initiated coverage of the stock with a "buy" rating, based on a slimmer portfolio and better focus on product and geographical areas where the firm can do well. The price target of $95 represents nearly 14 percent upside from Tuesday's close.
Abercrombie & Fitch — Deutsche Bank upgraded the stock to "hold" from "sell," citing the 35 percent decline since launching coverage on April 26 that "fully reflects" challenges both abroad and in the United States. Deutsche did lower its earnings per share estimates for fiscal year 2017 to $1.02 versus the consensus $1.14 a share.
Salesforce — BMO initiated coverage of the stock with an "outperform" rating and a $98 per share price target, nearly 21 percent above Tuesday's closing price. BMO said Salesforce.com benefits from its scale and integrated suite of cloud offerings in automation, services, and marketing.
Best Buy — Credit Suisse downgraded the stock to "neutral" from "outperform" given concerns about earnings growth in the second half of the year due to softness in mobile and fading benefits from Best Buy's edge over other retailers such as Sears. Credit Suisse also lowered its target price to $31 a share from $36.50.
U.S. Steel — Bank of America/Merrill Lynch upgraded the stock to "neutral" from "underperform" given higher forecasts for U.S. sheet steel prices on expectations of more limited supply over the next several quarters. BofAML raised its expectations for average 2016 U.S. benchmark hot-rolled coil prices to $530 per short ton from $485.
CNBC's parent NBCUniversal is an investor in Recode's parent Vox, and the companies have a content-sharing arrangement.