- Markets: Stocks end the day in the red.
- Oil: US oil prices dropped nearly 3%.
- Target surged 8% after revealing a healthy sales increase.
- Qualcomm tumbled 11% after a judge ruled the company’s pricing strategy violates antitrust law.
L Brands also owns Bath & Body Works. Sales at that chain's stores open at least a year rose 7% last quarter compared with a year earlier.
US stocks retreated today, although the trade war didn't appear to be the catalyst for a change. Instead, blame a plunge in oil prices, a federal court ruling and more wreckage in the retail world.
At least a few officials at the Federal Reserve are likely breathing a sigh of relief about the recent tumble on Wall Street.
In other words, euphoria was getting ahead of reality. The fear is that greed gets out of hand, creating an unsustainable bubble like the dotcom mania.
Given the trade war uncertainty and minimal inflation, the Fed is content keeping rates where they are for now.
"Participants generally agreed that a patient approach....remained appropriate," the Fed minutes said.
An investment fund is determined to give female founders an opportunity to succeed.
Anu Duggal, founding partner of Female Founders Fund said on CNN Business' "Markets Now" live show that she believes women's health, and consumerization of health care are areas that are important to women but have received little funding so far
"Women control $2 trillion of spend," she noted. "Whether it's fertility or menopause, that's an industry we want to invest in."
She also said women tend to be more environmentally conscious, so her fund is investing in companies that want to leave less of a footprint for consumers.
Duggal said she was ecstatic that three companies with female founders have crossed the billion-dollar valuation threshold this year: Rent the Runway, Glossier and Away.
An ETF with a ticker "YOLO" believes it's the best way to invest in the cannabis industry.
Unlike other broad industry ETFs, YOLO is actively managed
"There are some companies I want to avoid. But as an active portfolio manager, I decide which companies I want to overweight or underweight," said Dan Ahrens, portfolio manager of AdvisorShares' Pure Cannabis ETF, on CNN Business' "Markets Now" live show Wednesday.
He said he tries to make the fund low-turnover, but it tries to act very quickly when it sees action on the horizon. For example, it got out of a company called Insys Theraputics, which afterward said it may go bankrupt.
So why "YOLO?"
The Fed has said it will hold on rates this year, but investors are starting to think there's a chance it will cut them.
"[Federal Reserve Chairman Jerome Powell] said maybe there's a chance for a rate cut, so we'll have to wait and see," said Alan Valdes, partner at Wall Street Capital Partners, on CNN Business' Markets Now live show Wednesday.
"I don't think he's going to cut rates. I think we're in a good spot now. But with the trade war, anything is possible."
Is that trade war going to hurt the economy?
The fall comes as Britain once again faces the prospect of a messy exit from the European Union.
Markets are still reacting negatively to the US-China trade war.