Oil fell on Tuesday after surging the most on record following attacks on Saudi's oil industry that disrupted the kingdom's production.Marketsread more
Damage to the top OPEC producer's oil facilities ignited fears of supply disruption around the world and has sent crude prices soaring.Energyread more
The second-largest investor in Kraft Heinz Company discloses that it has again trimmed its stake in the food company.Marketsread more
Elliott Management may not see John Stankey as a future leader at AT&T, but bailing on him before he executes his integration plan has the potential for disaster.Technologyread more
Retailers could be in for a jolly jump in holiday sales despite headwinds like the U.S.-China trade war and threat of another economic slowdown.Retailread more
Walmart likely discriminated against dozens of female workers in its stores, according to a Tuesday report from the Wall Street Journal.Retailread more
Canaccord Genuity's Tony Dwyer says Americans are spending less than ever on their fuel needs.Trading Nationread more
U.S. manufacturing output increased more than expected in August, boosted by a surge in machinery and primary metals production.Economyread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
The service will debut in April with pricing to be announced closer to the launch data, NBCUniversal says.Technologyread more
Apple isn't trying to blow our minds with groundbreaking new features on the iPhone 11, but is making lots of little improvements each year, this year focusing on cameras and...Technologyread more
The Dow Jones industrial average closed at an all-time high on Wednesday as investors bet the U.S. economy's momentum would continue.
The U.S. economy has picked up steam this year, growing at an annualized rate of more than 3 percent each of the past two quarters.
"There's a lot of momentum" in the U.S. economy and that's being reflected in stocks, said Randy Frederick, vice president of trading and derivatives at Charles Schwab. "I can't think of anything other than a black-swan event that would derail it."
The Commerce Department released its second read on third-quarter U.S. GDP, which showed the economy expanded at an annualized rate of 3.3 percent. The number matched estimates and surpassed an initial read of 3.0 percent growth.
UnitedHealth and JPMorgan Chase were the best-performing stocks in the Dow, which jumped 103.97 points to close at 23,940.68.
The hit an intraday record, but finished just below the flatline at 2,626.07 as a decline in tech stocks offset a strong performance from the financials sector. The tech sector fell 2.6 percent, while financials surged 1.8 percent.
"There has been some group rotation happening," said Marc Chaikin, CEO of Chaikin Analytics. "Yesterday you saw financials break out of a four-week downtrend and today they're up again."
Regional banks hit an all-time high, as the SPDR S&P Regional Banking ETF (KRE) surged 3.3 percent.
Retailers rose broadly on Wednesday, following a strong start to the holiday shopping season. The SPDR S&P Retail exchange-traded fund (XRT) rose 2.5 percent as shares of Macy's and Nordstrom rose 8.2 percent and 7.2 percent, respectively.
The Dow, S&P 500 and Nasdaq all hit record highs on Tuesday, boosted by hopes the GOP-led Congress would be able to pass tax-reform legislation and by testimony from Federal Reserve Chair nominee Jerome Powell.
The Senate Budget Committee approved the Senate's tax plan on Tuesday, bringing the upper chamber closer to a floor vote, which is expected to take place Thursday. Regarding Powell, he said current regulations on the financials sector are "tough enough," adding he supports the "tailoring" of some regulations to ease the burden on small banks.
In corporate news, Chipotle Mexican Grill said it has begun searching for a new CEO, with current Chief Executive Steve Ells becoming executive chairman. The fast-casual restaurant's stock jumped 5.6 percent.
Meanwhile, analysts at Morgan Stanley upgraded shares of Allergan to overweight from equal weight, noting that "fears about a 'better Botox' may be overdone." Allergan's stock rose 2.2 percent.