The dollar index rose on Wednesday and stocks tumbled even as the Federal Reserve cut interest rates after Fed Chairman Jerome Powell said the 25-basis-point cut was not the same as the beginning of a lengthy rate cutting cycle.
The U.S. dollar rose as high as $1.063 against the euro on Wednesday, its strongest level since May 2017, after the Federal Reserve cut interest rates by 25 basis points as expected.
The U.S. Federal Reserve’s decision on Wednesday to lower interest rates may do little to cut some of the costs that matter to many consumers.
Wall Street turned negative on Wednesday 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 beginning of a lengthy cutting cycle.
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.
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.
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.
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.
Shares of Nordstrom Inc rose 7% 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 familiar with the matter.
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.
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.
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.
Facebook Inc on Wednesday defeated an appeal by American victims of Hamas attacks in Israel, who sought to hold the company liable for providing the group a social media platform to further its terroristic goals.
General Electric Co’s oilfield services arm, Baker Hughes, beat quarterly profit estimates on Wednesday, driven by higher LNG drilling and demand for its oilfield services in international markets, sending its shares up nearly 6%.
U.S. stocks were little changed on Wednesday as investors awaited a widely anticipated interest rate cut by the Federal Reserve and clues on whether it would inaugurate further monetary easing.
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