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
This is a comparison of Wednesday's FOMC statement with the one issued on May 1 after the Fed's previous policy-making 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
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
Federal Reserve Chairman Jerome Powell said on Wednesday that Facebook spoke to the central bank about the digital currency called LibraThe Fedread more
Federal Reserve Chairman Jerome Powell said the case for a rate cut at central bank's Wednesday meeting is not strong enough.The Fedread more
If you're concerned about what Wednesday's Fed decision means for your bank account, mortgage loan or credit card — as well as student debt, home equity loan and car payment —...Personal Financeread more
The Federal Open Market Committee's quarterly economic forecast includes the so-called dot plot of where members see interest rates heading.The Fedread more
Employees spoke out on issues such as forced arbitration, workplace equity and Project Dragonfly at Alphabet's annual shareholder meeting.Technologyread more
The Federal Reserve lowered its inflation forecast for 2019 while keeping the growth expectations unchanged.The Fedread 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
"Innovator" T-Mobile may put more pressure on telecom industry leaders as it continues to roll out cheap alternatives, CNBC "Fast Money" trader Steve Grasso said.
"The other names are probably going to take a hit because their margins are going to get squeezed," said Grasso, who owns T-Mobile stock.
The telecom company on Wednesday announced new calling and data plans for businesses. Grasso believes the move will help T-Mobile cut into telecom giants AT&T and Verizon, which account for 87 percent of wireless revenue from businesses.
T-Mobile moved about half a percent lower, around $33 per share, in extended trading.
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AT&T and Verizon still look more appealing than T-Mobile, said trader Brian Kelly. AT&T closed 2 percent higher, below $34 per share on Wednesday, while Verizon closed 1 percent higher, above $49 per share.
Trader Pete Najarian looked to a telecom name outside the U.S. He said China Mobile is his favorite stock in the sector, as it has been "crushing it."
The stock closed more than 2 percent higher on Wednesday, above $67 per share.
Pete Najarian is long AMAT, BABA, BAC, BMY, BP, CSX, DISCA, FOXA, GE, KKR, KO, LLY, LOCO, MRK, PEP, PFE and SAP. He is long calls AAL, AAPL, AMD, BABA, BAC, BK, CAM, CDW, CLR, COP, DAL, FB, FEYE, GE, GM, GRPN, GS, GT, HCP, HPQ, IAG, JPM, KO, KNDI, KRFT, LYB, MSFT, NEE, PEP, RAD, RF, RIG, SPY, SYY, TEVA, UAL, UFS, WFC, WMB, XLNX and XOM. He is long puts BHP. Today he bought RAD calls and SAP.
Brian Kelly is long BTC=, U.S. dollar, GLD, CTRL calls, HYG puts, BBRY, BBRY call spreads and TLT. He is short EWA, EWQ, EWZ, EWW, JJC, Canadian dollar, yen and yuan.
Karen Finerman is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, M and KORS. She is short DIA. Her firm is long AAPL, BAC, C, CMLS, DIS, FINL, FBT, FL, GPS, GOOG, GOOGL, GLNG, LPG, IBB, JPM, M, KORS, NAP, OIH, XBI, SUNE and URI. Her firm is long calls URI. Her firm is short MOY, IWM, SPY and USO. Karen Finerman is on the board of GrafTech International.
Steve Grasso is long BA, CLVS, EVGN, FB, GDX, GOOGL, IMMR, KBH, KDUS, MHY, MJNA, PFE, POT, SO, T, TMUS and TWTR. His firm is long AMZN, NE, NEM, OXY, RIG, VALE, AVP, KO, MCD amd USO. His kids are long EFG, EFA, EWJ, IJR and SPY.