Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
The lack of clarity surrounding the U.S.-China trade war is what's really hitting global growth, says ex- Deputy Treasury Secretary Sarah Bloom Raskin.World Economyread more
China's economy has long relied on factors such high levels of investments and an expanding labor force for growth. Those growth drivers are running out of steam.China Economyread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
New crash tests show the Tesla Model 3 and the Audi e-tron, are among the safest models out on the road. The results bolster the theory electric vehicles may be better...Autosread more
U.S. consumers and growth in sectors such as technology have offset declines in other American industries, says Tom Finke, chairman and CEO of investment management firm...US Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
Last weekend's attacks on oil facilities — and the spike in crude prices that followed — should show that the world needs to stop relying on oil, says Helen Clark.Energyread more
The photo depicts Canadian leader Justin Trudeau wearing a turban and robe, with dark makeup on his hands, face and neck. Liberal Party spokesman confirms the photo is of...Electionsread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
Goldman Sachs is reducing its earnings forecast for Apple due to the smartphone maker's new lineup of iPhones.
The firm lowered its fiscal 2019 earnings per share estimate to $13.77 from $14.53 and reiterated its neutral rating for the company's stock.
"Apple rolled out new iPhones as expected but the new LCD 'XR' model was priced lower than we had thought likely. This effectively obsoletes two iPhone 8/8+ SKUs in our opinion and drives us to reduce our ASP [average selling price] and earnings estimates, offset slightly by a higher unit forecast," analyst Rod Hall said in a note to clients Wednesday.
Apple shares closed up 2.4 percent Thursday.
Hall reaffirmed his $240 12-month price target for Apple shares, representing 9 percent upside to Wednesday's close.
Apple on Wednesday announced its new iPhone XR and priced the entry-level version of the phone at $749 versus the $849 Goldman previously estimated. The company also eliminated the iPhone 6S and SE lower-priced models from its lineup.
"We also assume higher ASPs for the small volumes we had previously been expecting for the SE and 6s," he said. "However, the reduction in pricing expectation for the high volume iPhone XR in our model more than offsets these positive mix changes."
Apple shares are significantly outperforming the market this year. Its stock is up 31 percent year to date through Wednesday versus the S&P 500's 8 percent gain.
Last month, Apple became the first publicly traded U.S. company to reach $1 trillion in market value.
— CNBC's Michael Bloom contributed to this story.