Apple acknowledges that it deliberately slows down some older iPhones as their batteries age. The company sayd its software "throttles" apps and processes, such as Snapchat filters, that require more computing power, in order to keep the phones from unexpectedly shutting down.
Another day., another health scare at Chipotle. The Los Angeles health department is investigating reports that customers got sick after eating at one of the chain's restaurants. Concerns sent Chipotle stock down more than 3 percent on Wednesday.
Some major corporations are already making good on President Trump's promise that corporate tax cuts will help middle-class Americans.
AT&T and Comcast say they will give employees a thousand dollar bonus following the passage of tax reform. Meanwhile, banking giants Wells Fargo and Fifth Third bank saying they'll raise the minimum wage they pay employees once the bill is signed into law.
The Food and Drug Administration is asking Congress for new powers, including the ability to mandate drug recalls and require eyedrop makers to undergo inspections before shipping products to the U.S.
The Federal Reserve kept its key interest rate unchanged Wednesday for a third straight time, and its officials signaled that they expect to make three quarter-point cuts to their benchmark rate next year.
Eliott Wellenbach, vice president and institutional ETF strategist with Direxion, joined Cheddar News to discuss what traders are expecting from consumer spending ahead of the holidays and how they're positioning themselves following the latest inflation data and mortgage rates.
