House Democrats contend the $15 per hour minimum wage bill will lift workers who have not seen the benefits of a strong economy.Politicsread more
Microsoft beat on top and bottom lines but Azure growth slowed.Technologyread more
Trump said the USS Boxer destroyed Iran's drone in the Strait of Hormuz on Thursday in a "defensive action."Politicsread more
Stocks erased earlier losses, but the rise was kept in check as Wall Street digested a mixed batch of corporate earnings results.US Marketsread more
The Philadelphia Fed saw its primary gauge measuring the sector jump from 0.3 in June to 21.8, far better than Wall Street estimates of 5 and the highest in a year.Economyread more
"It's better to take preventative measures than to wait for disaster to unfold," Williams told the annual meeting of the Central Bank Research Association.The Fedread more
The fact that interest rates are relatively low makes the idea of a so-called insurance rate cut later this month an attractive option for the Fed.Market Insiderread more
Video of the event does not show the president disagreeing with his supporters. Instead, it shows that Trump paused as the chant began, allowing his supporters to continue...Politicsread more
President Trump said he's looking at the JEDI Contract that will be awarded to Microsoft or Amazon.Technologyread more
Business advocacy organizations sharply criticized the House of Representatives for passing a bill to raise the minimum wage to $15, saying it would be a costly job killer.Politicsread more
Wealthy clients liquidate some investments every year to cover their tax bill, so presumably this was higher than what Morgan Stanley has seen previously.Financeread more
U.S. government debt prices reversed earlier losses to trade little changed on Friday after Fed Chair Janet Yellen said the case has strengthened "in recent months' for a hike in interest rates.
The Federal Open Market Committee "continues to anticipate that gradual increases in the federal funds rate will be appropriate over time to achieve and sustain employment and inflation near our statutory objectives," Yellen said, according to prepared remarks.
Yellen was speaking at the Federal Reserve Bank of Kansas City Economic Symposium.
Two-year notes rose slightly, following remarks made by St. Louis Fed President James Bullard, a voting member this year on the central bank's policy-setting panel. He said the Fed's September meeting might be a good time to raise rates.
On the data front, the second read on second-quarter GDP showed growth of 1.1 percent.
In oil markets, Brent crude traded at $49.65 a barrel, down 0.04 percent, while U.S. crude was around $47.31 a barrel, down 0.04 percent.