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
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
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
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread 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
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
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Avocados may be harder to come by in the coming months, or they may become more expensive due to bad timing on a series of unfortunate events.
California's drought takes a bulk of the blame as the state produces 95 percent of avocados in the U.S. Farmers are abandoning the fruit because water is too costly and avocados require too much of it to grow, according to news site Mic. Rising temperatures are also expected to lower California avocado production by as much as 40 percent in the next three decades, Mic reports. Outside the U.S., avocado exports from Mexico are being disrupted by gang violence.
On top of supply challenges, avocado popularity is at an all-time high, outpacing production—similar to what happened with demand pressure on quinoa.
Earlier, fast-casual restaurant chain Chipotle sparked jitters when it threatened to nix guacamole from its menu if avocado prices continue to rise. If current trends persist, the company's threat may become reality.