The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
The Fed left interest rates unchanged at its monetary policy meeting. The U.S. central bank did, however, drop the word "patient " from its statement and said it would "act as...Asia Marketsread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday — breaching a key psychological level.Bondsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
Meatless alternatives are on the rise, fueled by startups and companies. CNBC's Uptin Saiidi tried out 21 days as a vegetarian and explores whether this is a fad or the future...Food & Beverageread more
Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread more
Sundar Pichai's note reads like a response to growing scrutiny from regulators, press and employees, and echoes a consistent theme of how Google helps people.Technologyread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
JCPenney said it will sell 84 million shares of stock in a secondary offering.
Shares fell 5 percent following the news. (What's the stock doing now? Click here for the latest after-hours quote.)
The retailer said it would use the proceeds for general corporate purposes.
Penney shares fell 15 percent on Wednesday after Goldman Sachs said it expects the retailer's sales to improve more slowly than expected. The stock rebounded slightly Thursday.
The cost for insurance against a J.C. Penney default has shot back to near record-high levels over the last week.
The company, which has a "CCC " credit rating from Standard & Poor's, reflecting a substantial risk in owning its debt, has about $2.6 billion of outstanding bonds.
The company's benchmark 5-year credit default swap contract price surged by more than 13 percent on Wednesday, according to Markit data.
The cost to insure $10 million of J.C. Penney bonds against a default for five years now requires an upfront payment of about $2.2 million plus quarterly payments of about $300,000 for the duration of the contract. The contract's pricing reflects a default probability of nearly 65 percent.