The company blamed its Q2 content slate and price increases for the subscriber miss.Technologyread more
Corporate earnings forecasts for the second quarter were lowered so much that companies are easily beating them.Market Insiderread more
The central bank is not normally in the business of easing into an economy that is showing few signs of a recession, generally holding fire until more pronounced signs of a...The Fedread more
IBM's year-over-year revenue has now declined for four quarters in a row. Impact from Red Hat is not yet factored into the company's guidance.Technologyread more
Netflix can sustain its lofty valuation only if global subscriber growth can support increasing content spending and debt. And growth is entirely dependent on Netflix's...Technologyread more
Prosecutors in Masschusetts have dropped a criminal case against actor Kevin Spacey, who had been accused of groping an 18-year-old man.Entertainmentread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
Trade negotiations between the world's two largest economies are stuck at a standstill, the Wall Street Journal reported Wednesday.Marketsread more
House Speaker Nancy Pelosi says she wants her chamber to vote on a debt ceiling and budget deal by July 26.Politicsread more
Philips has acquired a start-up that texts you about your poop. That's Medumo, a Boston-based company, which works with hospitals to guide their patients through common...Technologyread more
The "'Cadillac tax," set to go into effect in 2022, is unpopular with both Republicans and Democrats, who say it punishes the middle class.Health and Scienceread more
U.S. government debt yields held steady Thursday as fixed-income investors awaited comments from Federal Reserve Chairman Jerome Powell.
The yield on the benchmark 10-year Treasury note, which moves inversely to price, was slightly lower at 2.71 percent, while the yield on the 30-year Treasury bond was also slightly lower at 3.01 percent. The 2-year yield held steady at 2.55 percent.
Fed Chairman Jerome Powell is set to address the Economic Club of Washington in a panel talk Thursday afternoon. The central bank chief is likely to discuss the path of monetary policy as well as the state of the economy and will participate in a Q&A session.
The Fed raised its benchmark overnight lending rate four times in 2018 as a part of its goals of maximizing employment and keeping prices in check. Powell and his colleagues have cited months of strong labor statistics and healthy GDP numbers while hiking rates.
However, tepid inflation and concerns surrounding the longevity of the current economic expansion have prompted backlash from some market participants. Fears that policymakers may be elevating borrowing costs at too quick a pace contributed to a broad stock sell-off in the fourth quarter of 2018, with both the and the posting their worst Decembers since the Great Depression.
The Treasury Department auctioned $16 billion in 30-year bonds at a high yield of 3.035 percent. The bid-to-cover ratio, an indicator of demand, was 2.19. Indirect bidders, which include major central banks, were awarded 57.3 percent. Direct bidders, which includes domestic money managers, bought 15.9 percent.
China's commerce ministry said Thursday the negotiations were extensive and had helped set up a foundation for further talks. This week's face-to-face meetings were the first to take place since U.S. President Donald Trump and Chinese President Xi Jinping agreed to a 90-day truce last month.
If both sides are unable to secure a comprehensive trade agreement by March 2, Trump has said he plans to raise tariffs to 25 percent from 10 percent on $200 billion worth of Chinese imports.