"The Champagne should probably be kept on ice, at least until the two presidents put pen to paper," said state-owned media China Daily.Traderead more
Bloomberg could be in for a showdown with Elizabeth Warren, whether he runs or not.2020 Electionsread more
Bank of America says investors should still look to stocks for value rather than bonds.Investingread more
Wall Street analysts estimate GM has lost more than $1 billion due to the United Auto Workers' strike, which began Sept. 16.Autosread more
Check out the companies making headlines in midday trading:Market Insiderread more
Harley-Davidson has halted production and deliveries of its new LiveWire electric motorcycle after reportedly discovering a problem with its charging mechanism.Transportationread more
Uber has laid off about 350 employees across several teams within the organization.Technologyread more
A passenger has complained to United Airlines after a fellow traveler was allowed to fly with a T-shirt that called for hanging journalists.Airlinesread more
"I fear that's what we're headed into" here in America, warns the former Treasury secretary.Economyread more
"But I expect we'll have a deal," Mnuchin tells CNBC.Politicsread more
Kohl's stores are getting a bit of a refresh, and are being infused with new brands, ahead of this holiday season.Retailread more
The company surpassed Microsoft and Amazon Wednesday with a market capitalization of $821.59 billion. Microsoft ended the trading day with a market value of $813.48 billion and Amazon ended the day with a market value of $805.70 billion. The three companies have been in a tight race for the top spot since late last year, with Microsoft ending 2018 on top and Amazon briefly stealing the crown.
But the recent earnings season has swung the pendulum back in Apple's favor. Apple suffered a steep loss in market value in early January after warning investors to expect weak revenue for its first quarter 2019. In the three months leading up to the warning, investors already anticipated the revenue drop and Apple's market cap bled $452 billion.
Apple's warning tempered expectations so effectively that its actual earnings report was well-received. The stock soared nearly 7 percent the day after Apple's report, where it proved strong services margins even as its iPhone revenue was down 15 percent.
Amazon and Microsoft's earnings reports, on the other hand, under-delivered compared to analysts' expectations. Microsoft fell as much as 4 percent after missing on revenue and providing light guidance. Amazon initially rose on its earnings and revenue beat, but fell sharply once executives revealed on the call with analysts that the company will ramp up investments in hiring and capital expenditure this year and noted concerns around new regulation in India. The stock even fell into bear market territory on Friday, dropping below $800 billion in market value.