A dozen states are considering raising gas taxes. That's after close to twenty other states have instituted hikes in recent years to pay for infrastructure. CBO data shows that even as inflation-adjusted federal spending on infrastructure fell 14% between 2010 and 2014, state and local spending fell even faster. That both sources of funding appear set to rise can only be a positive for economic growth.

Fake data accusations overblown? So says High Frequency Economics' Jim O'Sullivan, who argues in a research note that the uproar over a proposed change by the Trump Administration in how the U.S. Trade Representative compiles trade-deficit data is making a mountain of a molehill. O'Sullivan says that this is about making more data available that will paint a more sophisticated picture of U.S. trade, not asking the Census Bureau to stop reporting official trade deficits.

Earnings to watch: 1) Toll Brothers, which reports before the bell, illustrates headwinds the homebuilding sector still faces. 2) The stock market values Tesla Motors at $45 billion, or $5 billion less than Ford and $12 billion less than GM. That's despite selling just 76,000 vehicles last year to Ford's 2.6 million and GM's 3 million.

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13 mins ago - World

Countries waiting to see if Trump wins before moving on Israel normalization

The delegation lands at Israel's Ben Gurion airport. Photo: Jack Guez/AFP via Getty

The White House is attempting to leverage momentum from Israel's normalization deals with Bahrain and the UAE to get more Arab countries on board before the U.S. election.

Driving the news: President Trump wants Sudan's removal from the U.S. state sponsors of terrorism list to be accompanied by a pre-election announcement on Israel.

Poll: 92% of battleground state voters are "extremely motivated to vote"

Voters stand in line at the Metropolitan Multi-Services Center in Houston, Texas, on Oct. 13. Photo: Mark Felix for The Washington Post via Getty Images

91% of likely voters nationally say they are "extremely motivated to vote," including 92% in battleground states Arizona, Florida, Michigan, North Carolina, Pennsylvania and Wisconsin, according to a Change Research/CNBC Poll.

Why it matters: The 2020 election could see record-breaking levels of voter turnout. Voters last week cast ballots at nearly five times the rate they did at this point in the 2016 election, per the U.S. Elections Project. Over 39 million ballots have been cast in early voting states as of Wednesday.

Caitlin Owens, author of Vitals
1 hour ago - Health

OxyContin maker Purdue Pharma to plead guilty to 3 criminal charges

Members of P.A.I.N. (Prescription Addiction Intervention Now) and Truth Pharm staged a rally and die-in last year outside New Yorks Southern District Federal Court in White Plains, where Purdue Pharmaceuticals' bankruptcy hearing was being held. Photo: Erik McGregor/LightRocket via Getty Images

Purdue Pharma, the maker of OxyContin, will plead guilty to three federal criminal charges Wednesday as part of a more than $8 billion settlement with the Justice Department, AP reports.

Why it matters: "The settlement is the highest-profile display yet of the federal government seeking to hold a major drugmaker responsible for an opioid addiction and overdose crisis linked to more than 470,000 deaths in the country since 2000," AP notes.