It was the third trigger of the recession indicator in less than two weeks.Bondsread 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
Philadelphia Fed President Patrick Harker said he doesn't see the case for additional stimulus after the Federal Reserve's July rate cut.The Fedread more
Stocks fell as fears of an economic recession built up ahead of a key speech from Federal Reserve Chairman Jerome Powell.US Marketsread more
"My sense was we've added accommodation, and it wasn't required in my view," George tells CNBC's Steve Liesman.Investingread more
Former Prudent Bear Fund manager David Tice is urging investors to brace for a massive downturn.Trading Nationread more
German Chancellor Angela Merkel said a solution to the Irish "backstop" is possible before the October 31 Brexit deadline.Europe Economyread more
Apple plans to unveil three new iPhones in September, including two new "Pro" models and a successor to the iPhone XR, Bloomberg reported Thursday.Technologyread more
A ruling against J&J could mean more big payouts in similar cases across the country.Health and Scienceread more
While Volkswagen may not want to invest in Tesla, the U.S. carmaker has been scouting locations in Europe for a new Gigafactory there.Autosread more
Corporate profits posted modest growth in the second quarter as companies brace for slowing global growth.Retailread more
Abbott Laboratories stock jumped after the Food and Drug Administration approved the company's FreeStyle Libre glucose monitoring system, more than a year earlier than Wall Street anticipated.
While Abbott shares jumped 4 percent Wednesday after the surprise FDA call, competitor DexCom saw its shares crater by more than 36 percent.
Abbott's Libre is the first glucose monitoring system that adult diabetic patients can use to make treatment decisions without using a fingertip blood system. Analysts at J.P. Morgan say Abbott's aggressive distribution strategy has "the five largest pharmacies" ready to begin selling the device in the U.S. as early as December.
J.P. Morgan, which downgrades shares of DexCom to neutral from buy on the news, also said Abbott's pricing for the device is "even more aggressive than our expectations." Abbott will charge an effective rate of around $4 per day for Libre, lower than the $6 analysts at J.P. Morgan anticipated.
DexCom is no longer the sole competitor in manufacturing glucose monitoring systems, J.P. Morgan said. With new, low-priced competition, the firm says DexCom now must innovate under pressure to discount its hardware, which previously made margins of 45 to 50 percent per device. But all is not lost for DexCom, as J.P. Morgan says its "technology is superior to Libre."
"Before long, DexCom should be able to surpass the Libre offering," J.P. Morgan said. "But it will be at a lower price point and likely less attractive economics than we've all been expecting."
The technology still has a distance to go before widespread adoption, according to J.P. Morgan, but continuous glucose monitoring is headed toward becoming the standard for monitoring Type 1 diabetics. The firm warned in closing that DexCom's lead in the market is now smaller.
"In a remarkably short period of time, in Europe and now other markets outside the US, Abbott has seized the lead from Dexcom, winning multiple regulatory and reimbursement approvals and building a $450 million market for Libre seemingly overnight," J.P. Morgan added.