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
The Federal Reserve dialed up its growth expectations slightly while keeping its inflation projection unchanged.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
Shares of AMC Entertainment Holdings slipped more than 3 percent Monday after the company posted disappointing quarterly results.
AMC reported adjusted second-quarter earnings of 24 cents a share on $764 million in revenue, below Wall Street expectations of earnings of 26 cents a share on revenues of $774 million, according to a Thomson Reuters consensus estimate.
AMC President and CEO Adam Aron told CNBC's "Closing Bell" that "Hollywood hit a slump in April, May and June." In a Monday statement, Aron said a "lackluster film slate caused [AMC] to share in the industry wide box office revenue decline that was down domestically some 10.7% per screen year-over-year."
Aron said, however, that the quarter was an "anomaly."
"If you look at the movies before the second quarter or after, demand was quite strong," he told "Closing Bell." Aron said that he thinks "the prospects for Hollywood are quite bright, especially as we look into 2017, which is supposed to be a record-setting industry wide film slate."
AMC's food and beverage revenue came in at $243.5 million, compared with $250.5 million during the year-ago quarter. Admission revenue also came in lower at $481.2 million versus $533.4 million in the comparable year-ago period.
The stock is up 18.5 percent this year.