Fed lowers interest rates as expected, leaves door open to further cuts
The Federal Reserve cut interest rates on Wednesday for the first time since 2008, citing concerns about the global economy and muted U.S. inflation, and signaled a readiness to lower borrowing costs further if needed.
Dollar at two-year high after Fed cuts rates as expected
The U.S. dollar rose as high as $1.063 against the euro <EUR=> on Wednesday, its strongest level since May 2017, after the Federal Reserve cut interest rates by 25 basis points as expected.
Fed cuts rates for first time since 2008
Wall Street turned negative after Federal Reserve Chairman Jerome Powell in a press conference after the Fed announced its first rate cut since 2008 characterized it as a mid-cycle policy adjustment, adding that the decision was different from the begi…
Wall Street unimpressed by Fed’s expected rate cut
Wall Street had a mixed reaction on Wednesday after the expected interest rate cut by the U.S. Federal Reserve, the first in a decade, failed to impress investors.
U.S. prisons lose Wall Street sell-side coverage
Sell-side analysts have stopped covering U.S. private prison operators as Wall Street has distanced itself from publicly traded GEO Group Inc and CoreCivic Inc .
JPMorgan lowers benchmark interest rate following Fed rate cut
JPMorgan Chase & Co , the largest U.S. bank by assets, lowered its prime rate for the first time in more than a decade on Wednesday, following a rate cut from the Federal Reserve.
Nordstrom family prepares proposal for major stake in retailer – WSJ
Shares of Nordstrom Inc rose 8% on Wednesday after the Wall Street Journal reported that members of the retailer’s founding family are in the early stages of discussing a proposal to boost their roughly one-third stake to over 50%, citing people famil…
U.S., China to keep talking on trade, progress elusive in Shanghai meeting
U.S. and Chinese negotiators wrapped up a round of trade talks on Wednesday without visible signs of progress and put off their next meeting until September, extending an uneasy truce between the world’s two largest economies for at least a month.
GE lifts forecast but warns Boeing grounding may cost $1.4 billion
General Electric Co raised its 2019 forecast on Wednesday, but disclosed more than $1 billion in potential costs from Boeing’s grounded 737 MAX jetliner, puncturing an early share rally.
Wall Street muted, awaits Fed policy statement
U.S. stocks treaded water on Wednesday, as investors awaited an almost certain cut in interest rates by the Federal Reserve and hints on whether it could open the door to further easing in monetary policy.
