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
"The passport contains numerous ingress and egress stamps, including stamps that reflect use of the passport to enter France, Spain, the United Kingdom, and Saudi Arabia in...Politicsread more
Kushner and campaign chief Brad Parscale regularly hold strategy sessions on how to improve messaging about Trump's accomplishments to small-dollar donors, according to people...2020 Electionsread more
Yes, Netflix is losing "The Office" and "Friends" in the next two years. But that may not be a bad thing for the streaming company.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
The Dow Jones Industrial Average rallied more than 500 points Tuesday (and was continuing that rally Wednesday) after Federal Reserve Chairman Jerome Powell opened the door to a rate cut that traders have been crying for because of fears the economy is slowing.
Their love of Powell's pivot is evident in this Dow chart here:
"We will act as appropriate to sustain the expansion," was all Powell said, but that was enough to cause the market to leap.
Now contrast that with what happened on May 1, when Powell disappointed investors by appearing to downplay the odds of a rate cut by saying that he believed a slowdown in inflation was likely "transitory."
What a difference a month makes when there's a vicious sell-off in risk assets.
"Powell's assurance the Fed will 'act as appropriate to sustain the expansion' was confirmation that not only is a rate cut on the table, but it is nearing on the horizon," Ian Lyngen, head of U.S. rate strategy at BMO, wrote in an email. "Risk assets improved in the wake of the dovish undertones; at least that aspect of Tuesday's price action fit with our broader understanding of the world."
"A preemptive cut was priced-in, which suggests if the Fed doesn't follow-through it will be risk off," he added.
— CNBC's Jeff Cox contributed reporting.