After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
The sexy image that once boosted Victoria's Secret has been haunting L Brands more recently, as women are steering clear of the brand's hot pink, lacy and bejeweled lingerie.Retailread more
See which stocks are posting big moves after the bell.Market Insiderread more
"I'd love to say that the optimistic universe is most likely to prevail, but the talking heads talk endlessly about how a recession is inevitable," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Read the fine print in your Apple Card contract — one clause means you give up your right to be heard in court.Technologyread more
Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battleThe Fedread more
President Donald Trump signed a memorandum on Wednesday to automatically cancel the student loan debt of disabled veterans. More than 25,000 service members will have their...Personal Financeread more
Jim Nussle, a former director of the Office of Management and Budget, told CNBC on Wednesday that a strong U.S. consumer is the only thing keeping the country from recession.Marketsread more
Shares of Qualcomm spiked more than 12.3% Wednesday on the heels of two big wins. The rally added about $10 billion to its market cap following a massive jump on Tuesday, bringing it to $95.7 billion.
On Tuesday, Qualcomm and Apple announced they had settled their royalty dispute just as trial proceedings had begun in San Diego. The deal, which included a payment from Apple and a chipset supply agreement, sent the stock soaring 23% on Tuesday, adding about $16 billion to its market cap.
The dispute had centered around Apple's use of Qualcomm's modem chips. Apple argued that Qualcomm's prices and mandate that companies using its chips also pay licensing fees for its patents was an abuse of its position as a dominant supplier. Qualcomm argued that Apple had withheld payments that were part of its royalty agreement.
The settlement likely saved both companies from an extensive legal battle where each side sought billions in damages. After news of the deal broke, Qualcomm said it expects incremental earnings per share of $2 as product shipments ramp.
Just hours later, Intel said it would be dropping out of the 5G smartphone market, effectively knocking out a competitor for Qualcomm in the race to build technology for the next generation network. Intel CEO Robert Swan said the company would continue to invest in the 5G network infrastructure business but had found that in the smartphone market, "there is no clear path to profitability and positive returns."
Tuesday marked Qualcomm's best day since May 2002, when the stock spiked more than 18%. In early trading Wednesday, Apple's stock was up more than 1% and Intel was up more than 3%.