Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
Federal Reserve Chairman Jerome Powell said the he does not see the Fed using negative interest rates in the future.The Fedread more
The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Chairman Jerome Powell by name as he called for lower interest rates.Politicsread more
Steve Dowling, the head of Apple's public relations department, announced he will be leaving this week.Technologyread more
Tracy Britt Cool is leaving the firm after a decade to start a company that replicates Warren Buffett's business model, the Wall Street Journal reported.Marketsread more
Stocks closed little changed after the Federal Reserve failed to signal it will cut rates again in 2019, disappointing traders.US Marketsread more
A New York-based blockchain consulting firm allegedly extorted a Seattle-based crypto start-up with threats to hijack its initial coin offering, in a case announced Wednesday...Technologyread more
According to a report in the Wall Street Journal, WeWork co-founder Adam Neumann has floated the idea of becoming Israel's prime minister or leader of the world.Technologyread more
Powell said on Wednesday that the Fed may have to resume regular balance sheet growth to help ease money markets.The Fedread more
U.S. government debt yields climbed on Monday as a more positive market and economic outlook goaded investors back into riskier assets.
The yield on the benchmark 10-year Treasury note rose 6 basis points to 1.6% while the rate on Treasurys maturing in two years rose 5 basis points to 1.541%. The yield on the 30-year Treasury bond, which hit new all-time lows last week, was also higher at 2.083%.
The spread between the 2-year Treasury yield and that of the 10-year inverted in intraday trading on Wednesday for the first time in over a decade, a sign many consider a reliable recession indicator. That portion of the yield curve steepened on Monday and was last seen positive at 8 basis points.
Market focus is largely attuned to global central banks, as hopes of more stimulus from major economies such as China and Germany soothed investors' concerns about a global economic downturn.
The Commerce Department was preparing to extend the length of a license that has allowed Huawei to continue business with the U.S. companies to service existing customers despite the White House's concerns over national security, according to report from the Wall Street Journal and Reuters.
Huawei's business in the U.S. is one of the most contentious points in the ongoing trade war with China.
On Saturday, China's central bank unveiled a key interest rate reform to help drive borrowing costs lower for companies.
Meanwhile, market participants are likely to closely monitor the Federal Reserve's Jackson Hole symposium this week in order to get greater clarity on the future path of interest rates. U.S. central bank officials cut interest rates in July and indicated at the time that they'd be open to future easing if warranted.
To be sure, investors see about a 74% chance of a quarter-point rate cut next month.
A spell of weaker-than-expected data, agitation in U.S.-China trade relations and elevated recession fears sent Treasury yields tumbling to multiyear lows last week. For his part, however, President Donald Trump said Sunday he doesn't see a recession on the horizon in the U.S. after a volatile week for markets.
"I don't think we're having a recession," Trump told reporters. "We're doing tremendously well. Our consumers are rich. I gave a tremendous tax cut and they're loaded up with money."