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
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
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread more
With the Federal Reserve deciding not to cut interest rates but leaving the door open for future cuts, experts are split on what comes next.Trading Nationread more
Sales and prices at the classic car auctions in Scottsdale, Arizona, have gotten off to a fast start, suggesting the car market remains strong despite the instability in global financial markets.
The Scottsdale sales, part of a multiday car-a-palooza that attracts thousands of fans and wealthy collectors, are expected to top $285 million this year, according to Hagerty, a collectible car insurance company.
Much of the attention is on muscle cars, which have been slow to recover from the recession but have surged in price over the past year. But all makes of American cars and European racers have been selling at strong prices.
At Barrett-Jackson, a 1969 Chevrolet Camaro COPO 427 sold for $330,000, which was above its estimate.
RM Auctions sold a 1966 Shelby Cobra 427 for $990,000—right at its low estimate. A 1970 Chevrolet Chevelle SS 454 LS6 Convertible, which had a starting estimate of $225,000, sold for $225,500 with commission.
Read MoreMuscle car values roar back to life
A group of cars owned by legendary collector Ron Pratte have fetched strong prices. A 1969 Chevrolet Chevelle Yenko 427 that he owned sold for $275,000—right in line with the estimate.
The top sellers by price so far are Ferraris, of course. A 1966 Ferrari 275 GTB Competizione Coupe sold $9.4 million by Bonhams. RM sold a 1966 Ferrari 275 GTB/2 Coupe for $2.75 million and a 1984 Ferrari 288 GTO Coupe sold for $2.75 million.
There were also some more surprising successes, especially in trucks. A 1940 Ford Boyd Coddington Pickup sold for $374,000, while the custom-made truck for the "Beverly Hillbillies" TV show sold for $275,000.