"Whether it's this year or next year, the odds of another economic downturn are high — and growing," Warren says.Politicsread more
A group of gold miners stocks "BAANG" are better plays than mega-cap FAANG names, according to John Roque, technical analyst at Wolfe Research.Marketsread more
Equifax will give consumers a range of options for monitoring their credit or making claims of fraud or data misuse, part of a $425 million restitution fund.Technologyread more
The agreement between the White House and congressional Democrats would raise the debt ceiling for two years and permanently end the sequester.Politicsread more
Microsoft and OpenAI announced a new partnership to build artificial general intelligence to tackle more complex tasks than current AI.Technologyread more
Following a record breaking opening weekend for Disney's "The Lion King," CNBC's Jim Cramer said the company's stock is an "annunity stream" for investors.Investingread more
The Iranian Intelligence Ministry held a briefing on Monday where they announced the alleged spies were Iranian citizens but trained by the CIA.World Newsread more
Two traders say Boeing's on the path to recovery.Trading Nationread more
Documents leaked to The Washington Post revealed that Huawei secretly worked with the North Korean government on its wireless network.Technologyread more
Equifax will pay at least $575 million, and potentially as much as $700 million, to settle allegations over its massive over 2017 data breach, U.S. regulators said in a...Technologyread more
CNBC's Mike Santoli breaks down the aggressive buying of "sure things" and shunning of cyclical and policy risk.Trading Nationread more
Stocks closed at record highs on Wednesday as investors bet on a potential rate cut from the Federal Reserve later this month after the release of weaker-than-expected economic data.
The also rose 0.7% to 2,995.82 as the real estate and consumer sectors powered the broad index to record levels. Tech also boosted the index, rising 0.7% to a record high. The S&P 500 closed just 0.1% below 3,000.
"The first time we get there you'll probably see some profit-taking," said Scott Redler, partner with T3live.com. "If technology continues to be strong and the semiconductors get some kind of bounce, that could probably push the S&P 500 through it 3,000. It's good to see the FANG names show some power."
Shares of Facebook, Amazon, Netflix and Google-parent Alphabet all rose on Wednesday. The session ended at 1 p.m. ET due to the Fourth of July holiday.
Private payrolls in the U.S. increased by 102,000 in June, ADP and Moody's Analytics said. Economists polled by Dow Jones expected growth of 135,000.
The disappointing data strengthens the Fed's case for lowering rates at its monetary policy meeting at the end of July. Last month, the central bank opened the door to easier monetary policy by stating it will "act as appropriate" to maintain the current economic expansion.
"As you look around the globe, general business indicators are showing some slowing and it seems like now we're starting to see a bit of slowing in the United States," said Scott Colyer, chief investment officer at Advisors Asset Management. But "in this recovery we have a very involved central bank, and really global central banks, applying quantitative easing."
"There's virtually 100% chance that the Fed will lower rates at the July meeting. I think the Fed will see the economic indicators in the United States are beginning to slow."
A tweet from President Donald Trump calling for easier monetary policy added to expectations of easier Fed policy. Trump said the U.S. should "match" monetary policies from China and Europe, noting they are "playing big currency manipulation game and pumping money into their system in order to compete with USA."
The U.S. dollar fell after Trump's tweet, but remained little changed on the day. The benchmark 10-year Treasury yield fell to its lowest level since 2016 on Wednesday, falling further below 2%.
Wall Street has been clamoring for lower rates after the Fed hiked four times in 2018. Tim Courtney, chief investment officer at Exencial Wealth Advisors, thinks investors should be careful with what they wish for.
"The market is a little bit optimistic, not only about a cut but what it represents," Courtney said. "I don't think the Fed wants to send a signal that things are weakening unless they really are."
Wall Street got off to a strong start this week following a trade truce between the two world's two largest economies. The S&P 500 is up more than 1% week to date and has posted back-to-back record closes.
The U.S. and China agreed to restart trade talks over the weekend, after President Donald Trump offered concessions — including no new charges and an easing of restrictions on tech company Huawei — to soothe tensions with Beijing.
However, the initial enthusiasm over the latest trade truce between Washington and Beijing has since been overtaken by intensifying concerns over the Trump administration's threat of tariffs on additional European goods.
The U.S. Trade Representative's office released a list of products — including olives, Italian cheese, and Scotch whiskey — that could be hit with new levies in addition to those introduced in April. It comes after the U.S. government threatened to impose tariffs on $4 billion worth of EU goods on Monday, as part of a long-running dispute over aircraft subsidies.
In corporate news, Tesla shares jumped more than 4% after the auto maker reported record delivery and production numbers. Meanwhile, Symantec surged 13.6% on news the company is in talks to be acquired by Broadcom. The two companies are targeting an announcement by mid-July.
—CNBC's Sam Meredith and Patti Domm contributed to this report.