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
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread 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
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
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
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread more
With the Federal Reserve deciding not to cut interest rates but leaving the door open for future cuts, experts are split on what comes next.Trading Nationread more
The closed below its 50-day moving average on Wednesday, its first time under that widely watched indicator since Election Day, which has some chart analysts worried the bullish trend put in place since President Donald Trump's win is reversing.
The historical data shows there is reason for concern.
S&P 500, 6 months with 50-day moving average:
Using hedge fund analystics tool Kensho, CNBC analyzed 245 occasions when the S&P 500 closed below its 50-day moving average since 1990. A week later, the stock benchmark was lower by 1 percent, on average, while bonds and gold were in the green.
A month later, the results were much of the same, according to Kensho, with the S&P 500 lower and gold and bonds higher.
Looking a little further out, things start to recover. The S&P 500 is up by 1.14 percent, on average, six months after a 50-day negative breach.
Bottom line: History shows Wednesday's weak close is cause for short-term concern.
Disclosure: NBCUniversal, parent of CNBC, is a minority investor in Kensho.