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
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
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
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
Resident "Fast Money" crypto expert Brian Kelly breaks down the major differences between bitcoin and Facebook's new cryptocurrency Libra.Fast Moneyread more
Oracle found revenue growth from cloud applications in its fiscal fourth quarter, which helped it surpass analysts' expectations.Technologyread more
For those who want more power, the new Gran Coupe comes with a brutish, 523-horsepower twin-turbo V-8.Autosread more
The vote makes Mexico the first of the three countries to win legislative approval for the trade agreement.Politicsread more
Etsy shares more than doubled in their first day of trading Thursday after the IPO priced at $16 a share.
The stock opened at $31 and touched a high of $34.54 on the Nasdaq.
The New York-based online retailer's initial public offering raised about $266.66 million at that price, the top end of its expected range of $14-$16 per share. Etsy, which had 1.4 million active sellers and 19.8 million active buyers as of December, also earns from its advertising platform, payment processing and shipping labels.
Seller services were responsible for 42 percent of the company's revenue through 2014, Etsy's CEO, Chad Dickerson, told CNBC. There has been increasing demand from sellers for payment processing services so that sellers can focus on making goods they like. As of now, Etsy doesn't plan on building warehouses or handling shipping, added Dickerson.
Dickerson told CNBC that "92 percent of buyers who come to Etsy say they come to find goods they can't find anywhere else." In addition to a unique offering of products, the company creates a community for buyers and sellers and is taking steps to empower entrepreneurs.
The website is focused on growth in specific countries, including Canada and the United Kingdom, but it was still expecting to expand beyond those.
"We are really focused on those countries but it's important to understand that Etsy sellers represent nearly every country in the world so I think over the long term you will see Etsy grow around the world," Dickerson said.
When it comes to expansion, the CEO said Etsy isn't excluding any opportunities. The company, which was created in 2005, will let entrepreneurs have a say in what direction to take. He added that Etsy is about long-term thinking. Like he said to his employees, the IPO is a great start but it's only the beginning.
—Reuters contributed to this report.