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
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
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread 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
Slack's public market debut on Thursday will generate billions for venture firm Accel and healthy returns for Andreessen Horowitz and Social CapitalTechnologyread more
Oracle found revenue growth from cloud applications in its fiscal fourth quarter, which helped it surpass analysts' expectations.Technologyread more
Federal Reserve Chairman Jerome Powell said on Wednesday that Facebook spoke to the central bank about the digital currency called LibraThe Fedread more
European stocks pared gains to close flat on Wednesday, with auto stocks and miners outperforming after some recovery in oil prices.
The German DAX outperformed to close provisionally 0.5 percent higher, boosted by auto stocks, which make up a comparatively large part of its index.
Stocks in the U.S. traded mixed, with a boost from oil prices pared somewhat by declines in some tech stocks. Shares of Apple fell more than 1 percent.
In Europe, the autos sector was boosted by stock of Volkswagen, which closed nearly 7 percent higher. This came after Volkswagen's new chief executive, Matthias Mueller, gave details in an interview with a German newspaper about his plans to handle the diesel emissions crisis.
Volkswagen-owned Porsche closed around 5.5 percent higher and unrelated European automakers also outperformed. Shares of France's Renault closed up nearly 7 percent, while Germany's BMW ended over 4 percent higher.
Tuesday's rally in oil prices also boosted European basic resources stocks on Wednesday. This was despite a paring in crude gains on Wednesday, after weekly data from the U.S. government showed a rise in oil inventories to 3.073 million barrels.
Among the top performers was offshore driller Seadrill, which gained over 12 percent and Tullow Oil, which closed around 8.5 percent higher. Anglo American gained nearly nearly 10 percent, while Antofagasta and Rio Tinto both ended the day over 7 percent higher.
However, the top performer of all was Lonmin, which continued a week-long rally to close a staggering 33.5 percent higher on the day.
The slight recovery in oil prices proved bad news for shares of airlines, however, for whom rising prices would translate into higher fuel costs. Budget airlines Easyjet and Ryanair closed the day around 5 percent lower.
After the news, AB InBev shares pared earlier gains to close around 0.6 percent higher, while SABMiller ended around 0.3 percent up.
Shares of British supermarket chain Tesco closed 2.5 percent higher, despite the British supermarket chain reporting a 55 percent drop in operating profit for the first half of the year. The company said that it was trading ahead of expectations, outperforming rivals and that it would invest more in the second half of the year in order to regain competitiveness.