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
Shares closed at $1022.64 after hitting an intraday low of $1012.86.
Google tripled its capital expenditures in the first quarter, highlighting investment in facilities and data centers.
Analysts are generally bullish on the strategy, but keeping a close eye on margins.
"Top-line outperformance coincides with aggressive investment, and that's a good thing," analysts for Baird wrote in a note.
Margins remain under pressure, though, as Alphabet ups spending in research and development, real estate and headcount, Baird said.
"Importantly, we believe these are necessary for innovation and to sustain long-term growth," the analysts said.
The company is building out its investment in cloud computing, placing it in more direct competition with Amazon and outlining a path forward for the company beyond advertising revenue.
"GOOG sounds like AMZN," analysts for Macquarie wrote in a note. "It sees very large opportunities for long-term growth (search, YouTube, Cloud, cars, health, etc…) and it is going to invest in them. This is absolutely the correct thing to do and will over the long term increase shareholder value."
"GOOG is clearly still doing the right thing and investing for the future, but that is a lower margin future," Macquarie said.
Tuesday's drop pushed Alphabet into the red for 2018. The stock is still up more than 15 percent in the 12-month period.