Jerome Powell will "underwhelm everyone and not overwhelm anyone," one economist saysMarket Insiderread more
The unspecified action comes after the U.S. accused Iran of carrying out the weekend attacks on critical Saudi oil installations.Politicsread more
Oil prices retreated after President Donald Trump said he ordered the Treasury Department to "substantially increase" sanctions on Iran.Energy Commoditiesread 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
Mortgage applications to purchase a home increased 6% for the week and were a strong 15% higher annually.Real Estateread 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
Here's CNBC review of the Apple Watch Series 5, which makes a step forward with an always-on display and a useful compass that can help you find your way on Apple Maps.Technologyread more
Airline customer service agents overwhelmingly say they have been subjected to verbal harassment, according to a new U.S. government survey.Airlinesread more
The electric car manufacturer is offering auto insurance to its owners in California, with plans to expand to other states later on.Personal Financeread more
Facebook unveils the Portal TV, a streaming device that comes with a camera and microphones for making video calls via television.Technologyread more
Check out the companies making headlines in midday trading:
Caterpillar, Deere — Shares of Caterpillar and Deere fell 1% and 1.1%, respectively, after an analyst at Wells Fargo downgraded them to market perform from outperform. The analyst said Caterpillar's upside from these levels will likely be "limited" while expectations around Deere's ability to reduce costs are "elevated."
SmileDirectClub – Shares of the online dentistry company dropped 27.5% as the company publicly listed on Thursday, opening trading at $20.55 a share. Priced to list at $23 a share, SmileDirectClub is on track to have the worst market debut this year of a "unicorn" company (meaning it is worth over $1 billion). The company priced the IPO above it's expected range of $19 to $22.
Aurora Cannabis – Shares of cannabis company Aurora Cannabis tanked nearly 8.9% after reporting disappointing fourth quarter earnings and weak guidance. The company reported revenue of CA $98.9 million, compared to analysts' expectations of CA$108.3 million, according to Refinitiv. GAAP earnings per share was 0 cents per share, which is unlikely to be comparable to estimates.
Oracle – Shares of computer software company Oracle dropped 4.3% on news that the company's CEO Marc Hurd would be taking a leave of absence for medical reasons. The company also missed on its quarterly revenue. It reported revenue of $9.22 billion, while Wall Street expected $9.29 billion, according to Refinitiv. Earnings per share came in line with estimates at 81 cents.
Activision Blizzard – Nomura raised its rating of the gaming company to buy from neutral, with shares climbing 1% after the upgrade. Nomura cited several drivers from Activision Blizzard for the upgrade, including the better than expected launch of World of Warcraft Classic and new features of hit game Overwatch.
Oxford Industries – The apparel maker's stock dropped 6.7% after Oxford Industries missed expectations on its second quarter earnings. Oxford Industries lowered its expected full year earnings to account for the impact of tariffs, to a range of $4.25 a share to $4.45 a share from its previous range of $4.45 a share to $4.65 a share.
Yelp – Shares of Yelp rose 5.6% after the Wall Street Journal reported that Groupon may be looking to acquire Yelp. The report, citing people familiar with the plans, said Yelp may yield $1 billion in earnings, as well as $200 million in synergies; although some Groupon shareholders are reportedly concerned about Yelp's recent performance.
DXC Technology – The information technology company's stock dropped 11% after it announced the retirement of CEO Mike Lawrie. Several analysts downgraded DXC's shares, according to FactSet, with firms expecting a new CEO will delay and slow the company's growth plan.
AT&T – The telecommunications giant's stock dropped 1% as the company warned that it will see lower revenues from wireless equipment due to persistent low rates of upgrades.
– CNBC's Maggie Fitzgerald and Fred Imbert contributed to this report.