House Democrats contend the $15 per hour minimum wage bill will lift workers who have not seen the benefits of a strong economy.Politicsread more
Microsoft beat on top and bottom lines but Azure growth slowed.Technologyread more
Trump said the USS Boxer destroyed Iran's drone in the Strait of Hormuz on Thursday in a "defensive action."Politicsread more
Stocks rose after comments from a top Fed official led to bets that the central bank will ease monetary policy more aggressively.US Marketsread more
The Philadelphia Fed saw its primary gauge measuring the sector jump from 0.3 in June to 21.8, far better than Wall Street estimates of 5 and the highest in a year.Economyread more
"It's better to take preventative measures than to wait for disaster to unfold," Williams told the annual meeting of the Central Bank Research Association.The Fedread more
The fact that interest rates are relatively low makes the idea of a so-called insurance rate cut later this month an attractive option for the Fed.Market Insiderread more
Video of the event does not show the president disagreeing with his supporters. Instead, it shows that Trump paused as the chant began, allowing his supporters to continue...Politicsread more
President Trump said he's looking at the JEDI Contract that will be awarded to Microsoft or Amazon.Technologyread more
Business advocacy organizations sharply criticized the House of Representatives for passing a bill to raise the minimum wage to $15, saying it would be a costly job killer.Politicsread more
Wealthy clients liquidate some investments every year to cover their tax bill, so presumably this was higher than what Morgan Stanley has seen previously.Financeread more
Check out the companies making headlines midday Friday:
Broadcom — Shares of the chipmaker jumped more than 9 percent after the company reported better-than-expected earnings. Broadcom posted earnings per share of $5.55, while analysts polled by Refnitiv expected a profit of $5.23. The company said its results were impacted by slower demand out of China, but noted much of that was reflected in its quarterly guidance.
AT&T —AT&T shares rose 0.4 percent after Raymond James upgraded the telecom giant to outperform, citing a more attractive valuation relative to rival Verizon. Raymond James also said the stock could outperform the entire telecom sector this year.
Adobe —Adobe shares dipped 5.1 percent as the company's weak earnings guidance overshadowed its strong quarterly numbers. The company said it expects second-quarter earnings around a median of $1.77 per share, below a Refinitiv estimate of $1.88. Adobe's fiscal first-quarter earnings topped analyst expectations, however.
Ulta Beauty — Shares of the beauty retailer climbed nearly 9 percent after beating Wall Street earnings expectations for the fourth quarter. The beauty retailer reported earnings per share of $3.61 on revenue of $2.12 billion. Wall Street estimated earnings per share of $3.56 on revenue of $2.11 billion, according to Refinitiv. Ulta's same-store sales also increased 9.4 percent, compared to an estimated 7.9 percent uptick.
Jabil —Shares of the manufacturing services company rose as much as 2 percent on the back of strong earnings. Jabil reported quarterly earnings of 64 cents per share.
Noodles & Co. — The fast-casual restaurant chain's stock dropped more than 14 percent after the company reported weaker-than-expected quarterly earnings. Noodles & Co. posted a profit of 1 cent per share, while analysts polled by FactSet had forecast earnings of 2 cents.
Tesla — Tesla shares dropped 4 percent after the company unveiled its Model Y crossover. The electric carmaker's SUV launch reignited worries for some Wall Street analysts that Tesla would need to raise long-awaited cash later this year. The launch of the electric carmaker's new SUV comes a few weeks following Tesla's announcement of cut jobs and store closures to make profits.
Boeing — Shares of Boeing erased losses to trade nearly 3 percent higher after Agence France-Presse reported the company will release a software upgrade for its 737 Max aircraft in the coming weeks. The slight reprieve for the company's shares comes after a week of turmoil, following global safety concerns of the company's 737 Max jetliners.
Facebook — Facebook shares fell 3 percent Friday, the day following the resignation of two of its executives — Chris Daniels and Chris Cox — in light of its recent pivot to privacy. The company also received scrutiny related to a terrorist attack in New Zealand in which the shooter live-streamed the attack on the social media site. At least 49 lives have been claimed by the shootings.
—CNBC's Matt Lavietes contributed to this report.