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
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
More and more American firms are calling for the Trump administration to resolve its conflict with China.World Economyread more
CNBC's Jim Cramer connects the dots by reasoning that if the president were to act, he would pick a successor to Powell that would do his bidding.Economyread more
Tech trade organizations on Wednesday lashed back at a newly proposed bill by Sen. Josh Hawley, R-Mo., that would fundamentally alter the business models of tech companies...Technologyread more
Judy Shelton said in an interview that, if appointed to the Fed, she would want to lower interest rates all the way down to 0%.The Fedread more
Shoppers are "very nuanced in their expectations," Ron Johnson, the former CEO of J.C. Penney and the former senior vice president of Apple's retail division, said at CNBC's...Evolveread more
The winner will live in a centrally located apartment, receive a "salary" and explore the city to find what makes people there so happy.Liferead more
Hubert Joly announced in April he was ceding the chief executive spot to Corie Barry, a move that went into effect earlier this month. Joly will now be its executive chairman.Evolveread more
Beyond Meat has blown up. The plant-based meat company is now larger than 80 S&P 500 companies, including Macy's, Xerox and Mylan.Trading Nationread more
We've been given plenty of reasons to quit Facebook, including a new report that alleges disgusting working conditions at a company, Cognizant, it uses to employ contractors....Technologyread more
Check out the companies making headlines after the bell:
Nike stock increased by more than 8 percent in extended-hours trading. The popular shoe and athletic wear company posted stronger than expected earnings in its fourth quarter report. Nike earned 69 cents per share compared with analyst expectations of 64 cents per share. The Beaverton, Oregon based company also beat revenue estimates reporting $9.79 billion, as opposed to $9.41 billion expected.
Shares of Wells Fargo popped more than 3 percent in after-hours trading. The move came after the Fed announced what banks had passed or failed their annual stress tests. The company said it would raise its quarterly dividend by 10 percent to 43 cents and announced a stock buyback of $24.5 billion.
J.P. Morgan Chase was up more than 2 percent in after-hours trading. The company said it would hike its dividend by 43 percent to 80 cents and announced a $20.7-billion stock buyback.
Citigroup rose nearly 2 percent in extended-hours trading. The company said it would raise its dividend by 41% to 45 cents and announced a $17.6-billion buyback.
Shares of Bank of America increased by more than 1 percent, before giving up some of those gains. The company said it would increase its dividend by 25 percent to 15 cents and announced a $26-billion buyback.
KB Home stock was up more than 4 percent in after-hours trading. The home building company beat analyst earnings expectations, earning 57 cents per share, versus the 48 cents per share that was expected. KB Home also beat revenue expectations from analysts, reporting $1.10 billion versus $1.04 billion.