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
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
Federal Reserve Chairman Jerome Powell said on Wednesday that Facebook spoke to the central bank about the digital currency called LibraThe 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
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
Resident "Fast Money" crypto expert Brian Kelly breaks down the major differences between bitcoin and Facebook's new cryptocurrency Libra.Fast Moneyread more
Oracle found revenue growth from cloud applications in its fiscal fourth quarter, which helped it surpass analysts' expectations.Technologyread more
For those who want more power, the new Gran Coupe comes with a brutish, 523-horsepower twin-turbo V-8.Autosread more
The vote makes Mexico the first of the three countries to win legislative approval for the trade agreement.Politicsread more
Apple shares will keep rising even after its big gains this year, according to J.P. Morgan.
The firm initiated coverage of Apple shares with an overweight rating, predicting strong growth for the smartphone maker's services business.
Apple is "transforming from a hardware company to a services company faster than investors had expected, which is driving financial and valuation upside," analyst Samik Chatterjee said in a note to clients Thursday entitled "Time for Apple Picking: Initiate OW on Compelling Services Transformation, Ripe Installed Base, Core Capital Deployment." "We expect increasing appreciation of acceleration in growth, along with greater visibility into earnings and cash flow with increasing mix of Services."
Apple shares closed up 2.1 percent Thursday.
The company's services business includes its App Store, Apple Music and Apple Pay offerings.
Chatterjee started his price target at $272 for Apple shares, representing 23 percent upside to Wednesday's close.
The analyst said Apple's services sales rose to 13 percent of its fiscal 2017 revenue versus 8 percent for fiscal 2012. He predicts the segment will rise to 20 percent of the company's sales by its fiscal 2021.
Chatterjee is the new analyst covering Apple for J.P. Morgan. The firm last covered the smartphone maker in October 2017.
Apple shares are significantly outperforming the market this year. The stock is up 30 percent year to date through Wednesday versus the S&P 500's 9 percent gain.
Last month Apple became the first publicly traded U.S. company to reach $1 trillion in market value.
— CNBC's Michael Bloom contributed to this story.