The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday — breaching a key psychological level.Bondsread more
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
Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread 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
Check out which companies are making headlines before the bell:
Mondelez – CEO Irene Rosenfeld is stepping down from that job in November, to be succeeded by McCain Foods CEO Dirk Van de Put. Rosenfeld will remain as chair until March 31, 2018. Separately, Mondelez reported quarterly profit of 48 cents per share, beating estimates by three cents a share.
Apple – Apple posted quarterly profit of $1.67 per share, ten cents a share above estimates. Revenue also topped consensus forecasts. It also gave a current-quarter revenue outlook above current Street estimates, helping to send shares to an all-time high in after-hours trading.
Wal-Mart – Oppenheimer initiated coverage on the retailer with an "outperform" rating, saying the company is well-positioned for sales growth and profit recovery.
Cardinal Health – The pharmaceutical distributor reported adjusted quarterly profit of $1.31 per share, beating estimates by seven cents a share. Revenue also beat forecasts. The company noted a "dynamic" period in the health-care industry which presented challenges, but said it took important steps to strengthen its market position.
Garmin – The GPS device maker came in seven cents a share above estimates, with adjusted quarterly profit of 88 cents per share. Revenue also exceeded forecasts. Garmin saw strength in its fitness products, which more than offset weakness in automotive navigation offerings.
AutoNation – The car retailer reported earnings of 86 cents per share for its latest quarter, 11 cents a share below estimates. Revenue also missed forecasts amid overall slumping auto sales.
FireEye – FireEye reported an adjusted quarterly loss of four cents per share, smaller than the 12 cents a share predicted by Wall Street analysts. The cybersecurity company saw its revenue beat forecasts, and it also raised its full-year earnings and revenue guidance as its shift to a subscription model gains momentum.
Verizon — Verizon struck a deal to buy a portion of WideOpenWest's Chicago-based fiber network for $225 million. The transaction is the latest in a series of purchases made by Verizon in preparation for building out its next-generation mobile network.
Generac – The maker of power generators for homes and businesses earned an adjusted 69 cents per share for its latest quarter, five cents a share above estimates. Revenue beat forecasts, as well. Generac said shipments of home standby generators were particularly strong during the quarter.
Humana – The health insurer earned an adjusted $3.49 per share for its latest quarter, beating consensus forecasts of $3.08 a share. It also raised its full-year forecast to an adjusted $11.50 per share, compared to the consensus forecast of $11.15, as its Medicare Advantage plans perform well.
Illumina – Illumina came in 13 cents a share above estimates, with adjusted quarterly profit of 82 cents per share. Revenue for the DNA sequencing company also came in above forecasts. Illumina increased its full year forecast, as well, based in part on increased interest in its NovaSeq sequencing technology platform.
Costco – Costco announced the death of its co-founder and chairman Jeff Brotman. Brotman and former CEO Jim Sinegal had started the warehouse retailer in 1983.
AMC Entertainment – AMC forecast a second quarter loss of $1.34 to $1.36 per share, much larger than the consensus forecast of a three cents per share loss. The movie theater chain is expecting revenue of about $1.2 billion compared to estimates of $1.246 billion in what the company is now calling a "very challenging" quarter. It is planning various changes in pricing and staffing to improve results.
Rio Tinto – Rio Tinto reported its first-half profits more than doubled, and the mining company accompanied the announcement with a record dividend and an additional $1 billion stock buyback.
Anthem – Anthem is cutting its Obamacare coverage in 16 of the 19 California regions where it offered plans this year. The health insurer cited uncertainty over whether the Trump administration would continue paying Affordable Care Act subsidies.
Jacobs Engineering — Jacobs struck a deal to buy Colorado-based engineering services firm CH2M for $2.85 billion in cash and stock. The transaction will help Jacobs garner more infrastructure and government-related business.
Herbalife – Herbalife raised its earnings outlook for the year, but lowered the midpoints of its revenue outlook. The nutritional products company reported adjusted second quarter profit of $1.51 per share, beating the $1.12 consensus estimate, though revenue came in below forecasts.