These are the stocks posting the largest moves before the bell.Market Insiderread more
Jerome Powell will "underwhelm everyone and not overwhelm anyone," one economist saysMarket Insiderread more
Corporate executives and money managers have grown increasingly pessimistic about the economy as growth around the world slows.Trader Talk with Bob Pisaniread more
Facebook unveils the Portal TV, a streaming device that comes with a camera and microphones for making video calls via television.Technologyread more
U.S. homebuilding surged to more than a 12-year high in August as both single- and multi-family housing construction increased.Economyread more
Four Wall Street firms downgraded FedEx after the company's poor earnings report.Marketsread more
FedEx says trade around the world is starting to feel the squeeze of increased tariffs.Marketsread more
U.S. stock futures point to a modestly lower Wednesday morning open on Wall Street ahead of what the markets in the afternoon expect to be the Fed's second interest rate cut...Marketsread more
Mortgage applications to purchase a home increased 6% for the week and were a strong 15% higher annually.Real Estateread more
The House subcommittee that oversees consumer product investigations launched its a probe of Juul in June, holding two days of hearings in July. In a letter to Juul sent...Health and Scienceread more
Pelosi said Trump should not have tried to address China's trade practices in a way that opened Americans up to financial pain.Politicsread more
The government needs to ensure that federal worker retirement dollars are not being invested in China, Sen. Marco Rubio told CNBC on Wednesday.
"There really is no such thing as private companies in China," said Rubio, who unsuccessfully sought the 2016 Republican presidential nomination. "They're all, to some extent, instruments of state power. The first question is whether U.S. investment dollars should be propping up these companies that are actively seeking to undermine U.S. economic and national interests."
The Florida Republican and Sen. Jeanne Shaheen, D-N.H., wrote a letter last month to the Federal Retirement Thrift Investment Board, urging the agency to reverse a decision to use the MSCI All Country World ex-U.S. Index as the benchmark for a public pension fund. China stocks represent about 8.5% weighing in that index.
In the change to the Thrift Savings Plan's international stock fund, set for implementation next year, Rubio argued on "Squawk Box" that $50 billion in federal employee retirement assets would be invested in the Chinese Communist Party.
"The FRTIB's decision to track this MSCI index constitutes a decision to invest in China-based companies, including many firms that are involved in the Chinese Government's military, espionage, human rights abuses, and 'Made in China 2025' industrial policy, and therefore poses fundamental questions about the board's statutory and fiduciary responsibilities to American public servants who invest in federal retirement plans," Rubio and Shaheen's letter said.
The two senators are not alone in calling for the Thrift Savings Plan change.
The "Committee on the Present Danger: China," backed by China hawks including former Trump advisor Steve Bannon and hedge fund manager Kyle Bass, is getting behind the effort, scheduling an event for Thursday to express opposition to the TSP pegging. The advocacy group launched earlier this year.
China's stock market, which has been growing in recent years, is often underrepresented in global indexes. That's led to the index providers slowly increasing Chinese assets in their weightings.
The Rubio-Shaheen letter comes as economic tensions are already high between Washington and Beijing. The world's two largest economies have been entrenched in an escalating trade war for the past year, with each country imposing import tariffs on billions of dollars' worth of each other's goods.
Ahead of high-level trade talks next month, a slight reprieve came Wednesday when China's Ministry of Finance announced plans to exempt 16 types of U.S. products from additional tariffs as of Sept. 17.
The FRTIB had no comment but said it was reviewing the letter.