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
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread more
Shares of tax software company Avalara nearly doubled in their opening day of trading on Friday.
Shares closed up 87 percent at $44.94 after opening at $35. Shares priced at $24 in the company's $180 million IPO on Thursday.
It's another successful cloud software IPO for the tech sector. Zuora and Ceridian each jumped roughly 40 percent on their opening days in April. Cloud storage provider Dropbox went public in March and has gained more than 70 percent since its debut.
Seattle-based Avalara sells automated tax compliance software for enterprise use and offers integrations with software giants like Oracle, Workday and Stripe, according to SEC filings. Its customers include Pinterest, the New York Times and Fandango.
Revenue in 2017 climbed 27 percent to $213.2 million, driven by rising demand from digital commerce companies that have to navigate numerous state and local tax laws.
CEO Scott McFarlane, who co-founded the company in 2004, told CNBC's "Squawk Alley" on Friday that in the next seven to 12 years, sales tax will have to be entirely automated.
"In a digital world the concept of doing sales tax manually is really absurd," McFarlane said. "And we saw that and we knew that we were swimming with the tide for those 14 years."
Avalara covers 6 billion transactions a year across 208 countries, and McFarlane said the company's ultimate goal is to have a hand in every transaction.
The stock is listed on the New York Stock Exchange under the ticker symbol "AVLR."