Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
The interest on excess reserves now stands at 1.8%, a 30 basis point cut compared with the 25 basis point reduction for the benchmark funds rate.The Fedread more
The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Chairman Jerome Powell by name as he called for lower interest rates.Politicsread more
Stocks traded lower on Wednesday as traders digested the Federal Reserve's latest decision on U.S. monetary policy.US Marketsread more
This is a comparison of Wednesday's FOMC statement with the one issued on July 31 after the Fed's previous policymaking meeting.The Fedread more
Ahead of the Fed's 2 p.m. announcement, many economists were forecasting one further cut in 2019, but some investors were hoping for two more this year.The Fedread more
The Fed has become increasingly divided, with three officials voting against the Fed's quarter-point cut to the fed funds target rate range.Market Insiderread more
For consumers, lower rates do mean cheaper loans, which can impact your mortgage, home equity loan, credit card, student loan tab and car payment. n the flip side, you'll earn...Personal Financeread more
Gold edged lower on Wednesday but held about the key $1,500 per ounce level after the U.S. Federal Reserve decided to cut interest rates.Futures & Commoditiesread more
As the Federal Reserve lowers rates, some banks are pulling back their offerings on their savings accounts and certificates of deposit. Even so, they are still pretty good by...Personal Financeread more
Traders shouldn't continue to bet on the surging shares of Amazon.com into the company's earnings report about a week from now, as a great quarter is already priced in, according to Deutsche Bank.
They'll get a chance to buy the stock at a cheaper price after the report, the firm said. "We think 2Q should be solid on both the top and bottom-lines, but expect 3Q guidance to reflect incremental investments related to logistics, international and content. After the strong outperformance recently, we think shares may be range-bound on 2Q results, but we remain bullish on the long-term opportunity and recommend adding to position on any weakness," said Deutsche Bank's Ross Sandler in a Wednesday note to clients.
Amazon shares have surged more than 20 percent the last three months as its online marketplace continues to grab market share from brick-and-mortar retailers. The analyst has a 12-month target price of $900, representing 20 percent upside from Tuesday's close. The Seattle-based firm reports second-quarter results on July 21.