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
Disney said ESPN took a chunk out of its operating income this past quarter, largely due to higher programming costs.
However, the sports network may also be the media company's way to grab the attention of digital audiences if deals with over-the-top services pay off.
Disney reported its quarterly earnings on Tuesday after the bell. The company beat analyst estimates for earnings per share, but revenue of $13.34 billion trailed the average estimate of $13.45 billion. The stock fell about 2 percent following the announcement.
While cable network revenue for the quarter rose 3 percent to $4.1 billion, operating income decreased 3 percent to $1.8 billion. The company said it was due to ESPN's higher programming costs, including the shift of timing in college football playoff games and rate increases for NBA programming. ESPN also laid off about 100 staffers in late April.
Disney CEO Bob Iger acknowledged the rising costs of sports content in an interview with CNBC. He also pointed out another factor currently hurting ESPN: dwindling cable subscriptions.
Audiences no longer have to go to TV, let alone ESPN, to get their sports fix. Twitter announced at its first Digital Content NewFront presentation to advertisers it would have rights to WNBA and MLB games, as well as the PGA Tour. Amazon will air NFL's Thursday Night Football this upcoming season.
With all these options, consumers no longer have to sit in front of the television to watch their favorite teams, which has for decades been the lifeblood of ESPN.
Disney has taken steps to embrace the digital platforms, Iger said. The company negotiated deals with streaming services and improved the ESPN digital experience and app.
"We believe we're well positioned to contend with what we think is
ESPN is available on digital services from Hulu, YouTube,
"We believe these new light pack options that include ESPN and over-the-top top platforms are the future and an asset to us," Iger said.
Still, that growth is not enough to offset traditional cable and satellite revenue, Iger said. Not yet anyway.
"We will eventually be in a direct consumer business for ESPN products, and hope to launch one of our brand technology platforms before the end of
Note: CNBC parent company NBCUniversal is an investor in Hulu.