CNBC
The Dow, a day after losing 285 points and breaking a three-session winning streak, was set to advance about 200 points at the Wednesday open on Wall Street. Tuesday concern over new U.S. and China tariffs abated today as Hong Kong conceded to a key demand of pro-democracy protesters. (CNBC)
* Year-end targets for S&P 500 are all over the place from down 5% to up 11% (CNBC)
Hong stocks soared nearly 4% overnight, on word the city's leader planned to formally withdraw a contentious extradition bill that's sparked months of sometimes violent demonstrations. Early Wednesday, the measure was officially abandoned. (CNBC)
* Trump was so angry after China's trade retaliation last month that he wanted to double tariffs (CNBC)
The U.S. government releases July trade imbalance figures at 8:30 a.m. ET. The Fed, at 2 p.m. ET, releases its latest Beige Book region-by-region look at economy. American Eagle (AEO), Michaels (MIK), and Vera Bradley (VRA) issue earnings this morning. Quarterly results from Cloudera (CLDR) and Slack (WORK) are out after the bell. (CNBC)
* Weekly mortgage refinances fall further, despite lower interest rates (CNBC)
* Uber and Lyft close at record lows as investors lose faith in the ride-hailing firms (CNBC)
IN THE NEWS TODAY
Hurricane Dorian was on the move along the U.S. coastline this morning, drenching the east coast of central Florida and taking aim at the Carolinas. The slow-moving storm devastated parts of the Bahamas where it killed at least seven people. (NBC News)
* Satellite photos show much of the Bahamas underwater after Dorian (CNBC)
The NRA slams Walmart (WMT) over plans to end sales of handgun ammunition and discourage openly carrying guns in states where it's allowed. Walmart's moves follow recent deadly mass shootings at two of its Texas locations. (CNBC)
* Kroger joins Walmart in asking shoppers not to openly carry guns in stores (CNBC)
Amazon (AMZN) is testing a biometric payment system that charges users by scanning their hands, according to the New York Post. Amazon would reportedly introduce the technology at some of its Whole Foods stores by the beginning of 2020.
Apple (AAPL) plans to introduce a cheap new iPhone next spring to address declining market share, according to Japan's Nikkei news service. The phone, reportedly a successor to the iPhone SE, comes as the U.S. tech giant saw two straight quarters of shipment declines.
WeWork co-founder and CEO Adam Neumann has returned around $5.9 million worth of stock to the company, which he had originally received in exchange for the "we" trademarks, according to an amended IPO registration. (Axios)
STOCKS TO WATCH
Tyson Foods (TSN) cut its full-year earnings forecast to $5.30 to $5.70 per share, compared to estimates of $5.94. The poultry and beef producer cites the impact of a recent fire at a key factory as well as commodity market volatility.
Hedge fund Starboard Value disclosed a 7.5% stake in Box (BOX), calling shares "undervalued." Starboard, now the second largest shareholder behind Vanguard, said it may talk to the cloud service provider about exploring a potential sale.
Realty Income (O) announced the acquisition of 454 single-tenant properties from CIM Real Estate for about $1.25 billion in cash. The real estate investment trust also raised its outlook.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
