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Wall Street retreats as Fed hike talk bubbles up

IN THE NEWS TODAY

U.S. stock futures were lower this morning, after the Dow, S&P 500, and Nasdaq were all lower Wednesday. Ahead of Janet Yellen's Friday Jackson Hole speech, Fed-watchers look to this morning's durable goods and jobless claims for economic clues. (CNBC)

Kansas City Fed President Esther George, a voting member on the central bank's policymaking panel, told CNBC it's time to increase interest rates, gradually. (CNBC)

Responding to pressure concerning EpiPen price hikes, Mylan (MYL) this morning announced plans to boost access to its EpiPen Auto-Injector by expanding already existing programs for patients who are facing higher out-of-pocket costs. (CNBC)

Hillary Clinton weighed into the EpiPen controversy Wednesday, tweeting there's no justification for Mylan to hike prices on the allergy treatment by nearly 400 percent in the past few years. In a statement, Clinton said Mylan should lower the costs, "immediately." (CNBC)

Mylan CEO Heather Bresch joins "Squawk Box" first on CNBC at 8:30 a.m. ET.

GOP presidential nominee Donald Trump backed away farther from his hardline stance on deporting millions of illegal immigrants, saying he would be willing to work with those who have followed U.S. laws while living in the country. (Reuters)

Trump has spent the week calling for African-Americans to uproot voter trends, and support for him in the November election. But last night, Trump escalated his line of attack, and labeled Hillary Clinton herself a "bigot." (NBC News)

Warren Buffett's Berkshire Hathaway (BRK.A) continues to reap rich dividends from a canny loan extended to Dow Chemical (DOW) seven years ago. But a recent rally in Dow's stock is putting that income stream at risk. (WSJ-subscription)

Viacom's (VIAB) board is asking Paramount Pictures to come up with a turnaround plan, given the studio's dismal performance over the past five years. Shari Redstone is reportedly unconvinced Paramount is in the right hands. (WSJ-subscription)

Social media outlets including Facebook (FB), Twitter (TWTR) and Google's YouTube are "consciously failing" to stop their sites from being used to promote terrorism and recruit extremists, U.K. lawmakers claimed in a new report. (CNBC)

A brazen, hours-long militant attack on the American University of Afghanistan ended early Thursday after at least 12 people were killed and dozens were wounded in the assault on the sprawling campus on Kabul's outskirts. (AP)

Rescue crews raced against time looking for survivors from the earthquake that leveled three towns in central Italy. The death toll rose to 247 and Italy once again anguished over trying to secure its medieval communities built on seismic lands. (AP)

BY THE NUMBERS

In addition to July durable goods and weekly jobless claims at 8:30 a.m. ET, there's Markit Services PMI for August at 9:45 a.m. ET and the Kansas City Fed survey of August business conditions at 11 a.m. ET.

Earnings reports today include Medtronic (MDT), Dollar General (DG), and Dollar Tree (DLTR). On this afternoon's list are GameStop (GME), Splunk (SPLK), and Ulta Salon (ULTA).

HP Incorporated (HPQ), late Wednesday, released third-quarter profit and revenue that beat forecasts, on a rebound in demand for notebook PCs. The company's fiscal fourth-quarter outlook was below estimates.

STOCKS TO WATCH

Tiffany (TIF) reported adjusted earnings of 86 cents per share that beat estimates. But revenue of $932 million fell short. Same-store sales were down 8 percent.

Sears Holdings (SHLD) posted a wider-than-expected loss of $3.70 per share. Same-store sales at Sears stores fell 7 percent, sales at K-Mart fell 3.3 percent. Quarterly revenue, however, beat estimates.

PVH (PVH) reported better-than-expected quarterly results. The clothing maker, whose brands include Calvin Klein and Tommy Hilfiger, also raised its full-year guidance.

Guess (GES) issued quarterly earnings that beat estimates, and updated full-year guidance. The fashion house said same-store sales fell 2 percent, but that was still better than forecast.


WATERCOOLER

U.S. soccer officials have suspended goalie Hope Solo from the national team for six months for her sore-loser comments after Sweden eliminated the Americans in the quarterfinal match at the Olympics in Rio. (NBC Sports)

Paisley Park, the private estate and studio complex of the late rock superstar Prince, opens to the public in early October. Graceland Holdings, which has overseen Elvis Presley's home since 1982, will run the daily tours. (AP)