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
Powell said on Wednesday that the Fed may have to resume regular balance sheet growth to help ease liquidity markets.The Fedread more
Stocks fell on Wednesday after a divided Federal Reserve failed to signal easier monetary policy later this year, disappointing traders.US Marketsread more
Amazon is launching a new feature that allows presidential candidates to receive campaign contributions through the Alexa voice assistant.Technologyread more
The woman says the abuse by Jeffrey Epstein, a former friend of Presidents Donald Trump and Bill Clinton, began when she was just age 14 or younger.Politicsread more
Federal Reserve Chairman Jerome Powell pledged that the central bank would engage in a "sequence" of interest rate cuts if conditions warrant, but he doesn't see that as...The Fedread more
The Federal Reserve cut rates Wednesday by 25 basis points to a range of 1.75% to 2.00%.The Fedread 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
The Air Force's newly minted U.S. Space Command general said that he has recently met with billionaire space race investors Elon Musk, Jeff Bezos and Richard Branson.Investing in Spaceread more
Check out which companies are making headlines before the bell:
Viacom — Former CEO Philippe Dauman sold the remainder of his class B shares, worth $31 million, after selling more than $28 million in shares last week.
Bob Evans Farms — The restaurant chain and food distributor earned an adjusted 48 cents per share for its first quarter, 4 cents a share above estimates. Revenue fell below forecasts, however. Bob Evans also raised its full-year forecast, with its food distribution business performing well, making up for some weakness in its restaurant business.
H&R Block — The tax services provider reported an adjusted loss of 55 cents per share for its latest quarter, 2 cents a share wider than anticipated. Revenue also fell below forecasts as Block had fewer customers and was also impacted by currency fluctuations.
Palo Alto Networks — Palo Alto reported quarterly profit of 50 cents per share, matching estimates, while the cybersecurity company's revenue exceeded forecasts. The company also gave a full-year forecast that rises above consensus forecasts, but the current-quarter outlook is below estimates.
AstraZeneca — AstraZeneca will pay $5.52 million to resolve a Securities and Exchange Commission foreign bribery case. The drugmaker had been accused of improper payments by its sales and marketing personnel to state officials in Russia and China, but did not admit or deny guilt in settling the case.
Express Scripts — Express Scripts will introduce a program in 2017 that caps patient spending costs on diabetes drugs. The pharmacy benefits manager is trying to limit drug spending increases by participants to about half of the nearly 18 percent rise forecast overall for 2017.
Amazon.com — Amazon is debuting its Amazon Dash button in Britain with 48 brands available for instant re-order.
Volkswagen — Volkswagen's could announce a final settlement in October with the U.S. on its large-engine diesel cars that were involved in the automaker's diesel emissions scandal, according to an Audi executive in a Reuters interview.
Dollar General — Dollar General was downgraded to "neutral" from "overweight" at Atlantic Equities, which cited a lack of near-term transparency for the discount retailer's outlook.
Quest Diagnostics — The medical lab services company was downgraded to "neutral" from "buy" at Mizuho, with the move coming on a valuation basis after the stock substantially outperformed its benchmark indexes after a March upgrade.
PNC Financial — The bank was upgraded to "outperform" from "market perform" at Keefe Bruyette & Woods, which thinks the stock is trading at attractive levels considering the company's opportunities to grow earnings.
Mattel — The toy maker announced a partnership involving its American Girl brand with Toys R Us. The retailer will be the only U.S. retailer to have an American Girl "shop-in-shop" in certain stores.
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