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
U.S. burger chain Wendy's reported better-than-expected quarterly profit and sales, helped by higher franchise revenue.
The company, like a few other fast-food restaurant operators, is focused on refranchising its restaurants in order to insulate from wavering commodity and labor costs.
Wendy's said franchisee royalty and franchisee rental revenue, which accounts for about 48 percent of the company's net sales, rose 29 percent to $159.5 million in the second quarter.
The Dublin, Ohio-based also said it expects net franchise rental income of about $100 million to $105 million in the year.
Same-restaurant revenue from North America, the company's biggest market, rose 3.2 percent in the quarter. Analysts on average had expected a 3.10 percent rise, according to research firm Consensus Metrix.
The company's revenue fell 16.3 percent to $320.34 million, but beat the average analyst expectation of $301.7 million, according to Thomson Reuters I/B/E/S.
The company swung to a net loss of $1.85 million or 1 cent per share, in the quarter ended July 2, compared with a profit of $26.48 million, or 10 cents per share, a year earlier.
The latest quarter included a $41.1 million loss related to acquiring and selling some restaurants.
Excluding certain items, the company earned 15 cents per share, beating the average analyst estimate of 13 cents.
The company's shares were up 1.8 percent at $15.50 before the bell on Wednesday.