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
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 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
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
Micron beat analyst estimates on earnings and revenue for its fiscal third quarter of 2019.Technologyread more
Omarosa Manigault Newman, who had been a senior advisor to President Donald Trump before her firing, was sued for allegedly failing to file required financial disclosures.Politicsread more
During the first-quarter call in May, Musk cut off Toni Sacconaghi, senior technology analyst at Sanford C. Bernstein, dubbing his question on Model 3 gross margins "boring." He took a first question from Sacconaghi on Wednesday, and promptly apologized for his prior conduct.
That day, the stock plunged in after-hours trading in response to the perceived insult.
On July 16, Tesla stock plunged again after Elon Musk insulted Vernon Unsworth, a British cave diver who helped rescue 12 Thai boys and their soccer coach, on Twitter. Unsworth said he was considering legal action against Musk, because the CEO labeled him "pedo guy."
On Wednesday, Musk said of his impoliteness towards analysts, "I violated my own rule in that regard...There's no excuse." The CEO's contrite tone on Wednesday's call may assuage the concerns of investors who worried about Musk's leadership style under pressure.
CFRA's Efraim Levy wrote in a note to investors on Wednesday, even ahead of the call:
"We like the more muted tone of the company's outlook, with the absence of unnecessary new stretch goals. One example is TSLA's reiterating a Model 3 production rate goal of 6,000 units per week by late August, with a more vague time frame to reach production of 10,000 units per week, despite our expectation for a more accelerated ramp. Perhaps it reflects a more cautious Elon Musk."
Tesla shares were up 10 percent in after hours trading on Wednesday.